On This Day 15 Years Ago…

Exactly 15 years ago today, who said it?

You want winners? [This] is what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now. OK. Here goes. Write them down…”

Fifteen months later, Money magazine reported that [his] list had cratered 82%… Accountability ruins the game.


John Oliver on Infrastructure

America’s crumbling infrastructure: It’s not a sexy problem, but it is a scary one.

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Retirement At The End Of A Rope

Submitted by Doug French via Mises Canada blog,

“They were people with great dignity,” Ivo Costamagna said of his neighbors who committed suicide in 2013. Romeo Dionisi, 62, and Anna Maria Sopranzi, 68, hanged themselves after Ms. Sopranzi’s pension evaporated.

UK climbs women-in-work rankings

Improvement in proportion of working women boosts UK’s ranking in PwC index, but Nordic countries still lead

The UK has moved up a “women in work” league table after the economic recovery helped cut female unemployment, but it still lags well behind Nordic countries when it comes to overall empowerment of women in the workplace.

The UK is at its highest position since 2000 on the Women in Work Index from consultants PwC. It ranks 14th out of 27 developed economies, up four places on a year ago.

The reality for many flexible workers is that they have to work harder for promotion and don’t progress as quickly. The decision to go part-time is often made for short-term reasons, but unfortunately for women it often seems to have a wider, long-term negative impact.

The Shared Parental Leave policy, which comes into force in April, is a step in the right direction but the UK’s cultural perception of gender equality needs to catch up with such changes in policy. Some of the reasons the Nordic countries top the index is down to the recognition that all individuals should be able to balance their career and family life, and to support themselves.

Southern European countries such as Greece and Italy at the bottom of the index are still struggling to improve their performance since the fallout from the economic crisis.

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Japan Approaches Limit To Bond Buying Former BOJ Official Okina Warns

A day after we highlighted the veritable collapse in U.S. shadow banking liquidity (down by nearly half since 2008) occasioned by a potent one-two punch from Fed bond purchases and regulatory measures designed to stem prop trading (but which have apparently impaired market making), we get rumblings out of Japan that the BOJ might have hit the limit on how many JGBs it can purchase without breaking the market. Specifically, Yuri Okina, vice chairman at Japan Research Institute, is concerned about the exact same issue raised by the Center for Financial Stability in their report on the “steep slide” in market finance: namely, that the absence of liquidity created by QE will create distortions and volatility.