Is Chinese Centrally Planned FX Policy “Just A Silly Game”?

Is Chinese Centrally Planned FX Policy “Just A Silly Game”?

Tyler Durden on 03/02/2014 15:52 -0500

Submitted by Jake van der Camp via The South China Morning Post,

The mainland’s foreign-exchange regulator said recent volatility in the yuan’s exchange rate is normal, while playing down the possibility of large capital outflows, in a statement apparently aimed at easing market concern over a sharp currency depreciation. Read more of this post

China annual legislature session to face familiar problems

China annual legislature session to face familiar problems

Sunday, March 2, 2014 – 14:42

AFP

BEIJING – China’s annual show of political theatre, the National People’s Congress, opens this week – the first under a new Communist Party leadership facing intractable problems including endemic corruption, slowing economic growth and tensions with neighbouring countries. Read more of this post

Property giant City Developments might consider turning some of its upcoming high-end condo projects into serviced residences; drastic move contemplated as thinner profits from property development weighed down earnings

CDL may turn condos into serviced homes

Sunday, Mar 02, 2014

Melissa Tan

The Straits Times

SINGAPORE – Property giant City Developments (CDL) says it might consider turning some of its upcoming high-end condominium projects into serviced residences. Read more of this post

Tip for media firms: Go digital big-time or go bust

Tip for media firms: Go digital big-time or go bust

Sunday, Mar 02, 2014

Janice Heng

The Straits Times

SINGAPORE – For media firms to survive, they must go digital in a big way – from becoming “big data” experts to even becoming online retailers. Read more of this post

Buffett loses $900m by not consulting partner Munger; Billionaire investor admits he made a “big mistake” in spending $2bn to buy EHF debt without asking for the opinion of his long-serving collaborator Charlie Munger

Buffett loses £537m by not consulting partner

Billionaire investor admits he made a “big mistake” in spending $2bn to buy EHF debt without asking for the opinion of his long-serving collaborator Charlie Munger

In his annual letter to Berkshire Hathaway shareholders published at the weekend, Mr Buffett said he wished he had “never heard” of Energy Future Holdings (EHF) Photo: REUTERS Read more of this post

Teddy Roosevelt’s 10 Rules For Reading

Teddy Roosevelt’s 10 Rules For Reading

February 28, 2014 by Shane Parrish

“A book must be interesting to the particular reader at that particular time.”

Theodore Roosevelt was perhaps the most well-read president. On a normal day he’d read a book before breakfast with another two later in the day. This puts my reading habits to shame. Over his life, he read thousands of books. Read more of this post

Being Wrong: Adventures in the Margin of Error

Being Wrong: Adventures in the Margin of Error

February 27, 2014 by Shane Parrish

“It infuriates me to be wrong when I know I’m right.” — Molière

“Why is it so fun to be right?”

That’s the opening line from Kathryn Schulz’ excellent book Being Wrong: Adventures in the Margin of Error.

As pleasures go, it is, after all, a second-order one at best. Unlike many of life’s other delights—chocolate, surfing, kissing—it does not enjoy any mainline access to our biochemistry: to our appetites, our adrenal glands, our limbic systems, our swoony hearts. And yet, the thrill of being right is undeniable, universal, and (perhaps most oddly) almost entirely undiscriminating. Read more of this post

“The human mind is a lot like the human egg, and the human egg has a shut-off device. When one sperm gets in, it shuts down so the next one can’t get in.” – Charlie Munger

Falsification

February 24, 2014 by Shane Parrish

“The human mind is a lot like the human egg, and the human egg has a shut-off device. When one sperm gets in, it shuts down so the next one can’t get in.” — Charlie Munger

Sir Karl Popper wrote that the nature of scientific thought is that we could never be sure of anything. The only way to test the validity of any theory was to prove it wrong, a process he labelled falsification. And it turns out we’re quite bad at falsification. When it comes to testing a theory we don’t instinctively try to find evidence we’re wrong. It’s much easier and more mentally satisfying to find information that proves our intuition. This is known as the confirmation bias. Read more of this post

Anne Lamott: Some Instructions on Writing and Life; good writing is about telling the truth

Anne Lamott: Some Instructions on Writing and Life

February 26, 2014 by Shane Parrish

image001-2

That tweet from Kathryn Schulz set off my quest to find Anne Lamott’s Bird by Bird: Some Instructions on Writing and Life. If you’ve ever wondered how I find things, this is a perfect example. Read more of this post

Facebook-WhatsApp Deal Haunted by Past Web Merger Flops

Facebook-WhatsApp Deal Haunted by Past Web Merger Flops

By Sarah Frier on 10:01 am March 2, 2014.

San Francisco. Facebook investors who pushed the company’s shares to a record after it unveiled the $19 billion deal for WhatsApp would be well served to remember — every Internet takeover of more than $10 billion has flopped. Read more of this post

The SEC Should Really Start a Hedge Fund

The SEC Should Really Start a Hedge Fund

27 FEB 27, 2014 1:10 PM ET

By Matt Levine

It’s hard to pick stocks that will go up, so most people can’t do it consistently. It’s about equally hard — probably a bit harder — to pick stocks that will go down, so most people can’t do that consistently either. But if somehow you knew in advance what banks were going to be investigated for bank-y malfeasance, or which biotech companies were cooking their books, then you could sell their stocks and avoid losses, with consistent repeatable outperformance. Who might know that sort of thing in advance? Read more of this post

Bridging the Cultural Gulf In China

Bridging the Cultural Gulf In China

by Kunal Sinha | Feb 28, 2014

As the volume of Sino-Indian trade rises steadily, more and more business travellers struggle to bridge the cultural gulf. We tell you how to get around it Read more of this post

Embracing Intelligent Failure

Embracing Intelligent Failure

by Theodore Forbath | Feb 26, 2014

Leaders can reinforce acceptance of failure by publically celebrating projects that didn’t quite meet expected results, but that were successful in providing new learning Read more of this post

Berkshire Hathaway’s annual letter to shareholders has included pages on the stock market and where it’s headed in previous years. This year? Silence. Buffett lost nearly $900 million exiting biggest buyout ever

Buffett keeps mum on stocks and successor

By Stephen Gandel, senior editor March 1, 2014: 8:00 AM ET

Berkshire Hathaway’s annual letter to shareholders has included pages on the stock market and where it’s headed in previous years. This year? Silence.

FORTUNE — The Oracle of Omaha’s crystal ball must be cloudy these days. Read more of this post

China is expected to become the world’s largest 3D printing market and the adoption of the technology in the automobile sector will help reduce costs

3D printing technology in China’s auto sector to reduce costs

Staff Reporter

2014-03-02

China is expected to become the world’s largest 3D printing market and the adoption of the technology in the automobile sector will help reduce costs, according to the website of the Chinese-language China Securities Journal. Read more of this post

Yu’ebao heralds China’s ‘baby boom’ in new financial services; CCTV commentator calls Yu’ebao a “financial parasite” draining “blood” from banks, and the new financial “babies” are now in the sights of many wily old predators

Yu’ebao heralds China’s ‘baby boom’ in new financial services

Xinhua

2014-03-02

China’s new “baby boom” is not of the demographic variety. New financial systems and products are being born everywhere, bringing trouble to some and great expectations for many. Read more of this post

International electric car makers to face challenges in China

International electric car makers to face challenges in China

Staff Reporter

2014-03-02

With the worsening environmental situation in China, the government has stepped up support for the electric car sector, with international producers also trying to tap into the the world’s largest potential market for electric vehicles. Read more of this post

E = MC2 (Eating = More Choices Squared) ; GrubHub and Seamless take a 13.5% cut of their average delivery order

GrubHub and Seamless take a 13.5% cut of their average delivery order

By Zachary M. Seward @zseward 11 hours ago

image001

GrubHub and Seamless charge an average commission of 13.5% for restaurant orders placed through their websites and apps. And restaurants pay more to appear higher in search results, which isn’t apparent to diners. Read more of this post

What Faces Can’t Tell Us: To figure out what someone is feeling, you need more than just his expression

What Faces Can’t Tell Us

FEB. 28, 2014

By LISA FELDMAN BARRETT

CAN you detect someone’s emotional state just by looking at his face?

It sure seems like it. In everyday life, you can often “read” what someone is feeling with the quickest of glances. Hundreds of scientific studies support the idea that the face is a kind of emotional beacon, clearly and universally signaling the full array of human sentiments, from fear and anger to joy and surprise. Read more of this post

The End of the ‘Developing World’; The old labels no longer apply. Rich countries need to learn from poor ones.

The End of the ‘Developing World’

By DAYO OLOPADEFEB. 28, 2014

image001

BILL GATES, in his foundation’s annual letter, declared that “the terms ‘developing countries’ and ‘developed countries’ have outlived their usefulness.” He’s right. If we want to understand the modern global economy, we need a better vocabulary. Read more of this post

The Downside of Inciting Envy: Fomenting bitterness over income differences may be powerful politics, but it injures our nation

The Downside of Inciting Envy

MARCH 1, 2014

Arthur C. Brooks

THE Irish singer Bono once described a difference between America and his native land. “In the United States,” he explained, “you look at the guy that lives in the mansion on the hill, and you think, you know, one day, if I work really hard, I could live in that mansion. In Ireland, people look up at the guy in the mansion on the hill and go, one day, I’m going to get that bastard.” Read more of this post

Breaking out of its rut, 3D printing shows its medical side

Breaking out of its rut, 3D printing shows its medical side

BY JAMES ROBINSON 
ON FEBRUARY 28, 2014

The 3D printing market is in a holding pattern. The technology has great potential, but only a few trained people are able to unlock it. There’s a lot of excitement about what the technology could do 20 years from now, but a similar level of grumbling that the hype has created a bubble. Insiders liken it to the PC industry in the 1980s, but people are impatient for it to change the world now. Maybe –as predicted – in 2030 there will be a $30 billion industry printing our clothes, shoes, and those little doohickeys that hold up your pictures on the wall. But there will be many years in the interim, which will be filled with speculation among warring camps of skeptics and evangelists about just how transformative it will become. Read more of this post

NYU announces new entrepreneurship “eLab” to bring the university together

NYU announces new entrepreneurship “eLab” to bring the university together

BY CALE GUTHRIE WEISSMAN 
ON MARCH 1, 2014

This weekend NYU students and alumni are trekking to Greenwich Village from near and far to attend the third annual NYU Entrepreneurs Festival. This two-day event brings together hopeful entrepreneurial minds with older, more-vetted business people, all of whom are at least tangentially affiliated with the Manhattan empire that is known as New York University. Read more of this post

On the importance of keeping investors out of the newsroom, and not treating your readers like fools

On the importance of keeping investors out of the newsroom, and not treating your readers like fools

BY PAUL CARR 
ON MARCH 1, 2014

Mr. Greenwald is a very popular guy on Twitter, with about 320,000 followers. And he has earned a reputation for bullying people who don’t share his views, frequently using his megaphone to launch unfair and frequently dishonest personal attacks. It will be interesting to see if he keeps this up at the $50 million news venture he’s starting that’s being bankrolled by eBay billionaire Pierre Omidyar. – Christian Science Monitor Read more of this post

With Mt.Gox In Flames, A Lesson: When Building A Company, First Do No Harm

With Mt.Gox In Flames, A Lesson: When Building A Company, First Do No Harm

Posted yesterday by Danny Crichton (@DannyCrichton)

The collapse of Mt.Gox this week has sent shockwaves through the early-adopting tech community. Hundreds of millions of dollars worth of bitcoins have been lost, and account holders are justifiably angry about their missing balances. It is easy to heap blame on Mt.Gox’s founders and call this a once-in-a-lifetime calamity, but the context behind the company’s demise is far more pernicious and occurs far more frequently than it should in the tech community. Read more of this post

As India User Base Nears 100M, Facebook Hopes To Earn Big Revenue From SMBs

As India User Base Nears 100M, Facebook Hopes To Earn Big Revenue From SMBs

Posted 6 hours ago by Pankaj Mishra (@pankajontech)

India is set to become Facebook’s biggest market in terms of number of users later this year, but don’t expect that to translate into ad dollars for the Palo Alto company anytime soon. India’s online advertising market maxes out at around $360 million, making it difficult for the company to translate this horde of users into a billion-dollar business. Read more of this post

Abenomics struggles to deliver Japan public works boom

Abenomics struggles to deliver Japan public works boom

8:04pm EST

By Antoni Slodkowski and Junko Fujita

TOKYO (Reuters) – When Tokyo asked for bidders to build what is expected to be the world’s largest fish market on the city’s vacant eastern edge there were no takers. Read more of this post

Yum! Brands has stumbled in China over safety issues, but is moving to restore its growth

SATURDAY, MARCH 1, 2014

Yum! Brand’s Global Cuisine and Tasty Stock

By RESHMA KAPADIA | MORE ARTICLES BY AUTHOR

Yum! Brands has stumbled in China over safety issues, but is moving to restore its growth.

With 40,000 restaurants in 125 countries, Yum! Brands (ticker: YUM) has long been a poster child for multinational success. More recently, though, it’s also been known for its trouble in China—including food safety issues and local rivals encroaching. Now, though, investors can look to a promising next course. Read more of this post

Buffett Hints at More Heinz-Like Deals in Annual Letter

MARCH 1, 2014, 10:35 AM  Comment

Buffett Hints at More Heinz-Like Deals in Annual Letter

By PETER EAVIS and RACHEL ABRAMS

Updated, 2:49 p.m. | The challenge looming over Warren E. Buffett is whether Berkshire Hathaway, the vast business empire he has built over five decades, can continue to make the sort of large acquisitions that will help it grow at a pace that will sustain his reputation as the nation’s shrewdest investor. Read more of this post

Telepresence machines may soon become inexpensive enough for more everyday use, as a conduit for virtual visits among family and friends

The Rolling Robot Will Connect You Now

By ANNE EISENBERGMARCH 1, 2014

A few years ago, the introduction of remote-controlled robots on wheels brought a new dimension to Internet video chats, keeping the conversation going as people moved from room to room. But their costliness has made them a rarity in real life. Now that is changing, and the robots are becoming inexpensive enough that they may soon have many practical uses. Read more of this post