Monday, November 14, 2011

Financials Bill Gross, Illegal Drug Economy, If Romney President, Health Supreme Court, Banks

Tags: Financials Bill Gross, Illegal Drug Economy, If Romney President, Healthcare Supreme Court, Europe Crisis

You can now watch Bloomberg TV Live on the Internet or on iphone and ipad. On Surveillance with Tom Keene, a more sophisticated analysis of the market with more in-depth discussion visited PIMCO to find out what they think of the current market and why they have been so successful in the complex world of bond trading.

One comment that I made in the past a number of times is that high IQ does not mean success necessarily. Sure Harvard has many Nobel Prize winners, but most came from other universities and once they were successful, Harvard got them by paying more including their perceived reputation of being the best.

I was shocked when Bill Gross made a similar comment! He said we found that we over rate high intelligence. What we are looking for is good common sense. What he did not mention is how people have good common sense.

Unfortunately many of the wrong decisions in government and in corporations were based on hiring people who had the best grades which is closely tied to higher intelligence. Of course there are exceptions such as Sheryl Sandberg of Facebook. She has a combination of being a very hard worker and also a good people person unlike Mark Zuckerberg.

Most decisions are made by so-called common sense without the broad knowledge needed to make it effective and appropriate. Dan Ariely in Predictably Irrational: The Hidden Forces That Shape Our Decision

PIMCO has found a team consisting of an economist, a mathematician, a gut thinker, and experienced bond trader, but I really forgot the latter so it is just a guess. Check out YouTube tomorrow to see if it is recorded.
Education went downhill when we switched away from early rote learning to get lots of information in our head. Fast thinking and google does not make one a successful person. One elementary school principle in Compton, one of the worst school districts in California, had used a teaching method that great success and made the school of the best in California. She emphasized the basics by rote learning and did not adopt the new way of learning to read. The way to learn is to read is to read.

The Asian way to learn by rote has made the Chinese students also more creative than Americans. We think we need to think logically, but the question I ask is can logic come up with the best ideas. I don't think so. The idea comes and then we use logic to determine whether it is worth implementing even if all the questions cannot be answered.

Reread Gladwell's Blink.

Jim Kawakami, Nov 14, 2011,


Health Law Puts Focus on Limits of Federal Power

If, as expected, the Supreme Court agrees to be the final arbiter on President Obama’s health care law, it will face the question of what the government can force people to do.

Banks Quietly Ramping Up Costs to Consumers

Facing a reaction from an angry public and heightened scrutiny from regulators, banks are turning to all sorts of fees that fly under the radar.

Hispanics Reviving Faded Towns on the Plains

Hispanics are arriving in numbers large enough to offset the decline in the white population in many of the smallest communities in the heartland.

Italy Remains in Trouble, Pimco’s Gross Says: Tom Keene
Pacific Investment Management Co.'s Bill Gross ... a radiointerview ... Recession could be deep in Europe, Pimco Chief Executive Officer Mohamed El-Erian said during the interview ... during today's interview ...

A glimpse of the impact of illegal drug $$$ in the legitimate ecomomy in this TX Tribune story. #muckreads

In Laredo, was a criminal enterprise bathed in sweet perfume?

The drug war spillover from Mexico is much broader than shootouts and kidnappings — it is cloaked in the seemingly routine business transactions of the border economy.
  • Date: November 14, 2011
  • By: Julian Aguilar
  • Source: Texas Tribune
Tags: drugs
Tweeted by 20 others
Heeding @ProPublica's suggestion, story on #Romney & Bain Capital deserves #MuckReads hashtag. Big time.

After a Romney Deal, Profits and Then Layoffs

An examination of the Dade deal, which Mr. Romney approved and presided over, shows the unintended human costs and messy financial consequences behind the brand of capitalism that he practiced for 15 years.
  • Date: November 14, 2011
  • By: Michael Barbaro
  • Source: New York Times

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