Power Pose; Distressed Bond Investing; Hedge Funds on Housing Market Strategy;

July 13, 2012

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"We’re in unchartered territories. Let’s face it." ~ Christine Lagarde

This statement is ridiculous; as if this is the first times governments have over-spent while having a currency peg.

Research:

Two minutes in a "power pose" (take up space) spikes Testosterone and lowers Cortisol, primes people for better presentations, according to a study by Amy Cuddy ~ Harvard Business School

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Home field advantage helps in business negotiations ~ farnamstreet

Single Company Performance by Country and Sector, from GS ~  twitter; Global Equity Index Performers ~ twitter

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In 2009, Rasmala bought debt of sovereign backed companies in the UAE at 15 cents on the dollar, on the premise:

  • “The bondholders would be paid in full because the local population owns some of those bonds,” Swats says. “The rulers would not default on their own.” ~ Institutional Investor

In the 1800s Asia accounted for about 60% of global GDP, according to Breakout Nations

Zell, Ackman, Sternlicht: great discussion on the hosuing market, including metrics, strategies ~ Institutional Investor

Greece has spent almost half of the past 210 years in default or rescheduling debt ~ twitter

The Panic of 1857, Subprime, Railroads, and Financial Failure ~ historysquared

China:

Expensive Toys – China’s Rail and Train Expansion. ~ twitter

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China’s third largest insurer China Pacific sees earnings sliding 55%, an iron and steel company sees earnings down 90%.

China GDP proxies show deeper slump ~ WSJ

China wants to slow down capital inflows and a slow down in inflows is supportive for the dollar against most currencies’ BofA’s David Woo

Poised For More Growth, Or a Spectacular Crash? ~ Forbes

China once accounted for 2% of the world’s privately owned automobiles, but 17% percent traffic accidents.

China to build steel plants, despite massive idle capacity, and production that’s lept from 100mm to 800m last decade

  • Incredible, even now they won’t throw their people a bone. This Chinese government is unlikely to last in current form. ~ Bloomberg

World:

Stockpiles of copper held in Korean warehouses are up eight fold

Bill Gross betting on Mexican bonds ~ abnormalreturns

Monti Says Italy Faces Economic ‘War’ ~ WSJ

Brazil Slowdown hits Telefonica, earnings growth drops from 12% to 2.7% ~ Bloomberg

Investors demand Global miners rein in capital spending plans ~ FT $VALE $BHP $RIO

Powerful, interactive guide to Iran nominated for an Emmy ~ Foreign Affairs

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