Capitalogix

Some Good Reading Links for the Weekend

It was a hot week.

Here are some of the posts that caught my eye. Hope you find something interesting.

 

Trading Links:

• Hedge Funds Cutting Risk: Soros Leads Way. (EconomicTimes)
• CEO Confidence Falls to Grim Ten-Month Low. (CEONet)
• If You Can Calculate Risk, You Can Make Better Judgments. Video (Do)
• What the U.S. Debt Deal Means for the Global Economy. (Curiouscapitalist)
• Did Obama Capitulate - Or Was It a Cagey Move? Was 'losing' part of a winning strategy? (WPost)

Lighter Links:

• Why Steve Jobs Couldn’t Find a Job Today. (Forbes)
• Obama Turns 50 Despite Republican Opposition. (Theonion)
• 13 Infographics For Entrepreneurs. (WG)
• Great Decision Tree: Do You Have a Problem in Your Life? (LH)
• How to Protect Your Home While Traveling. (Stratfor)

Did Geithner Really Say There Was ‘No Risk’ of a Downgrade? Let’s Go to the Video ...

After a tough week for the markets, the "Cherry-On-Top" is that the S&P downgraded the United States' credit rating.

Happy Birthday Mr. President, you now own the only credit downgrade in modern U.S. history.

It is going to be a tough week for Tim Geithner too.  Did he really say there was ‘No Risk’ of a Downgrade?  Unfortunately for him, there is a video showing that he did.

Here is an excerpt (from April 2011):

    Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”
 
    Geithner’s response: “No risk of that.”

    “No risk?” Barnes asked.

    “No risk,” Geithner said.

Here is the clip:

 

via ZeroHedge

I'm curious, how much do you think this will matter in the long-run?

Related articles

• Standard & Poor's Downgrades U.S. Credit Rating (npr.org)
• Washington Reacts To The Downgrade (businessinsider.com)

Tough Week For the Markets

Wow! That was a tough week for the markets. 

There was a fair amount of selling into a pretty consistent stream of bad news.  But it ended without panic selling ... and the Bulls can take some comfort in that.

How bad was the week?  Here's an overview.

 

  via The Daily

With a market sell-off of this magnitude, watch for an increase in volume and volatility. 

Will sellers finally press their bets?  If so, summer may get a little hotter. 

If, however, the Bears stay on the sidelines ... once again, look for traders to buy into the next rally.

Related articles

• Market Wobble is a Warning Shot Across the Bow (ritholtz.com)
• Waving the White Flag Before the Fight Even Starts (pragcap.com)
• What Just Happened? (upsidetrader.com)
• Mark Hulbert: Bottoms rarely look like Thursday's rout (marketwatch.com)