Rorschach Tests, Gold Troubles and Terrorists

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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My Tuesday morning train reads:

  • When Bank Capital Standards Aren’t Actually That Standard (Bloomberg)
  • Dumb Alpha: Trailing or Forward Earnings? (CFA Institute); see also Separating Decisions (Irrelevant Investor)
  • The Herbalife Rorschach Test (Bronte Capital)
  • Top Bond Funds Win by Harnessing Most Dangerous Part of Market (Bloomberg); see also Ten percent of respondents throw the word "never" around quite casually… (Financial Times)
  • Gold’s Run Could Hit Roadblocks: Lack of inflation, Fed action, calmer markets and speculative investors all pose a problem for gold (Wall Street Journal)
  • In the Age of ISIS, Who’s a Terrorist, and Who’s Simply Deranged? (New York Times); see also What are the biggest defense budgets in the world? (Telegraph)
  • Why are Investors so Tribal? (A Teachable Moment)
  • "No, Mr. Trump, that’s a lie": What Lesley Stahl should have said Sunday night (Washington Post); see also 141 Things Donald Trump Has Said and Done That Make Him Unfit to Be President (Slate)
  • Calls for Social Security Expansion Grow Louder in Washington (NYT)
  • Bizarre giant galaxy found in quiet corner of the universe (Cosmos); see also Milky Way’s bulge may have been formed by the galaxy buckling (New Scientist)

What are you reading?

Incoming data shows clear signs of more inflation

Source: Torsten Sløk, Deutsche Bank Securities

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Barry Ritholtz at

To contact the editor responsible for this story:
Brooke Sample at