Tuesday, June 21, 2016


Malcolm Gladwell on The Tim Ferriss Show (podcast) (LINK)

The heroes of 'Flash Boys' just scored a landmark victory, but the battle isn't over [H/T Linc] (LINK)

George Soros warns on Brexit (LINK)
To start off, sterling is almost certain to fall steeply and quickly if there is a vote to leave– even more so after yesterday’s rebound as markets reacted to the shift in opinion polls towards remain. I would expect this devaluation to be bigger and more disruptive than the 15% devaluation that occurred in September 1992, when I was fortunate enough to make a substantial profit for my hedge fund investors, at the expense of the Bank of England and the British government. 
It is reasonable to assume, given the expectations implied by the market pricing at present, that after a Brexit vote the pound would fall by at least 15% and possibly more than 20%, from its present level of $1.46 to below $1.15 (which would be between 25% and 30% below its pre-referendum trading range of $1.50 to $1.60). If sterling fell to this level, then ironically one pound would be worth about one euro – a method of “joining the euro” that nobody in Britain would want.
US Railroad Carloads Below 2009/2010 Lows (LINK)

Rigonomics: Is $50 a barrel enough to revive global oil production? (LINK)

Raoul Pal - The Need to Study Real World Economics - Warwick Economics Summit 2015 [video from a little over a year ago] (LINK)

TV Advertising's Surprising Strength — And Inevitable Fall - by Ben Thompson (LINK)

"So busy doing my job, I can't get any work done" - by Seth Godin (LINK)

Quote of the day: "Intuition is pattern recognition. Use with caution: if future doesn't resemble past, lessons of experience can lead us astray." -Adam Grant (source)