Felix Salmon


Nick Rizzo
Jan 11, 2012 05:08 UTC

The Mafia is now the number one bank in Italy, by one estimate — Reuters

A common misconception about what Reinhart and Rogoff mean for the US economy — BI

The “Iowa effect” and the county at the center of America’s farm boom — Reuters

The unsustainable history of US healthcare costs in 7 charts — Washington Post Wonkblog (duh)

The 36-year-old head of the best-performing hedge fund is posher than you — Bloomberg

And former MF Global employees had a Jon Corzine pinata party. Good for them — FINS


Isaac: Your faith is touching, but actual history shows that the one who raises the most money wins 94% of the time. This is why serious candidates spend so much of their time at fundraisers, and why only candidates polling under 5% waste time with realistic policy proposals.

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Nick Rizzo
Jan 10, 2012 00:30 UTC

The Greek economy is so bad that thousands of Greeks are taking up farming — NYT

Shocker: doubts grow about the Greek debt restructuring — Spiegel

While Romney was in charge of Bain, 22% of investments failed within 8 years — WSJ

Government jobs have declined further under Obama than any other President — NYT Economix

About 400 Goldman partners could see their pay cut this year — WSJ

The mathematics of Lego — Wired

And nearly 10% of the companies at CES have “Shenzhen” in their names — NYT Gadgetwise


Not sure what the WSJ article is trying to say or what you are trying to infer. That only 80% of the companies Bain invested in didn’t fail? That it would have made more money if it hadn’t invested in investments that lost money? That some companies that Bain invested in eventually failed, sometimes long after Bain was involved?

The phraseology suggests some sort of scandal. Care to expand on what that might be?

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Nick Rizzo
Jan 7, 2012 01:08 UTC

There’s very little good news forecast for the European economy — WSJ (paywall)

Just 3% of the 1.4 million net jobs added in the recovery went to women — NWLC

You know who the job recovery is bad news for? Mittens Romney — New Yorker

Why does the government consistently underestimate job creation? — Reuters

US manufacturing workers earn less than half as much as Canadians — WSJ (paywall)

The untold story of GE’s subprime debacle — I Watch News

Goolsbee: Washington isn’t spending too much now, but it will be later — WSJ (paywall)

And the political economy of wolf migration — Lawyers, Guns and Money


CDN, I’ve been able to get full access to paywalled articles occasionally. Perhaps a limit of one per day? Worth exploring.

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Nick Rizzo
Jan 6, 2012 01:25 UTC

Hot Wall Street analysts are once again bringing in IPO clients for banks — WSJ (paywall)

A great 2010 profile of Richard Cordray, the new consumer watchdog — NYT

One-third of first-time home buyers get help from their parents — Reuters

Apartment vacancies are at their lowest rate since 2001 — WSJ (paywall)

And here is a list of many terrible things Rick Santorum has said — TNR


Felix, I notice that you’re no longer a slice of lime in my soda, and your page template has gone corporate.

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Nick Rizzo
Jan 5, 2012 00:31 UTC

Bill Gross thinks we’re beyond the new normal and into the “paranormal” — Pimco

“Exactly how does one forecast improved trading results?” — Ritholtz

Hallo! Quantitative easing does not create inflation — Business Insider

Yield-hungry investors are gobbling up “bond exotica” — Bloomberg

Americans make up (after taxes) half the global 1% — CNN Money

Obama will probably make recess appointments to the NLRB as well — Washington Post

Here’s a cool little story of American entrepreneurial ingenuity — NPR Planet Money

I’m a fan, but is Google Chrome worth over $1 billion? — The Street

And how Twitter accidentally verified the fake Wendi Deng account — AllThingsD

Find more links on our website and at our foreign friends’.


“The takeaway is you better have your own approach for investing and trading, rather than relying on 3rd party guesses . . .”

Either that or trade opposite whatever they recommend, figuring they know nothing yet their hot air powers blips in the market.

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Nick Rizzo
Jan 4, 2012 08:28 UTC

Hi guys, it’s great to be back! I missed you. Apologies for the extremely late post: I’ve been blogging the Iowa Caucus, which was just like Florida in 2000 but ultimately meaningless. Onto the links!

Greece is threatening to leave the euro zone if the latest bailout isn’t approved — BBC

World’s largest hedge fund predicts a decade of “zombie” growth — WSJ

Minutes of the FOMC — Federal Reserve

We’re living in the age of the financial pawnbroker — FT Alphaville

Possibly small sample-size American migration data, visualized — Atlas Van Lines

The ethanol tax credit has ended, perhaps angering the Iowa corn gods — NYT

Inside the budding Youtube viral video studio system — Wired

2% of Americans think Mitt Romney’s first name is Mittens, 2% think it’s Gromit — VF

And some further reading from our salmon-tinged counterparties — FT Alphaville


Happy New Year to you, Mr. Rizzo. And that Mitt Romney name link really is quite stupendously wonderful.

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Nick Rizzo
Dec 23, 2011 23:32 UTC

S&P on Europe: still pretty much hopeless — Reformed Broker

Bernanke sees his shadow, may keep cheap money around for two more years — WSJ (paywall)

Meanwhile, Bloomberg releases all his 2007-2009 emergency lending data — Bloomberg

Low holiday prices should terrify retailers about the future — NYT

AIG’s CEO would like to hang around a while longer — WSJ (paywall)

FT Alphaville’s New York team present their awards video — FT Alphaville

What it was like to run a bar in Baghdad during the Iraq war — The Atlantic

Buzzfeed’s 50 funniest headlines from 2011 (two strange ones to follow) — Buzzfeed

Handsome accordian maker is North Korea’s kingmaker — Reuters

‘Gay Robot’ Heckles Bachmann At Iowa Event (VIDEO) — TPM

More links at Counterparties.com and across the pond. I’ll be off next week, so your Counterparties posts will be by OG Felix Salmon himself. Thanks so much for reading, enjoy your holidays, and I’ll see you in the New Year!



> Somehow the phrase “everybody comes to Rick’s” is running through my mind.

My first thought was ‘Club Scud’.

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Nick Rizzo
Dec 23, 2011 02:39 UTC

Europe hasn’t learned the lessons of Argentina’s financial crisis, say Argentinians — Spiegel

“China hedge fund bears look good in shorts” — Reuters

Ron Paul’s investments are a “half-step away from a cellar-full of canned goods” and ammo — WSJ Total Return

Actually, 18 years ago, Ron Paul wrote a letter warning of a “coming race war” — Reuters

Katya Wachtel learns Paulson’s Advantage Plus fund’s off more than 50% on the year — Reuters

Fred Wilson: The market for web company IPOs is healthy and rational — A VC

Brookings’s favorite economic stories of the year — Brookings

Many more great links at Counterparties.com, as well as further reading at our salmon-colored friend’s.


Wonder if Abacus case would have been quite as compelling if ACA and ABN had known a hedge fund manager that lost 52% of its capital in one year was the other side of the bet vs one that – after the trade was made – got immortalised in a book.

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Nick Rizzo
Dec 22, 2011 03:50 UTC

El-Erian: There’s more than a 1 in 3 chance the EU will implode — Bloomberg

Europeans are basically fleeing the continent in droves — Guardian

The world suddenly has a shortage of “risk-free” assets — WSJ (paywall)

Economists and politicians explain 2011 with (their favorite!) charts — Washington Post

BofA settles the Countrywide discrimination case for $335 million — Reuters

Dear Jamie Dimon… “we don’t hate the rich. What we hate are the predators.” — Reformed Broker

In addition to our site Counterparties.com, you can find even more links at our counterparties across the pond.


European might flee the continent in droves, but the Guardian has trouble reading data: the World Bank tables are a tally of the stock of migrants at the end of 2010, not the flow during the year 2010. So 11% of the Greek population lives abroad, they didn’t all move there in one year.

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