NEW YORK (
) -- Good Sunday afternoon and welcome to another edition of Weekend Reading. First a look back at the week that just finished, then a look forward at the week ahead, and then a summary of articles and research papers worth reading.
It was a decent week for the major U.S. markets, but gains were more muted than they have been in previous weeks. The
gained 0.5%, the
was up 0.7% and the
ended the week up 0.3%.
Blame bank troubles, worries about trade and currencies (China's and the U.S.'s in particular), as well as indifferent earnings. On the other hand, it was a solid week for U.S. IPOs, with six averaging gains of 31%.
Looking ahead to next week, it will be all earnings, all the time, albeit with a continuing backdrop of trade and currencies. Third-quarter earnings season will be solid, with few surprises, so most of the attention will be on guidance. There will be continuing fallout from
this weekend's G20 meeting
, which seems to have produced a group hug but not much else in terms of incentives for countries to play nicely given current trade tensions.
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Turning to economic indicators, we will see reports in the coming week on existing-home sales, durable goods orders and U.S. third-quarter GDP.
As for earnings, the week will bring reports from
CB Richard Ellis
, among a host of others.
Lastly, here are some articles and papers worth reading:
- Amazon's (AMZN) - Get Reportamazing stock bubble (Fortune)
- G-7 share of world GDP below 50% by 2010 (Bloomberg)
- G-20 does group hug over trade/currencies (Bloomberg)
- East Africa has bumper crop, and yet crisis still looms (The East African)
- Positive week for U.S. IPO market, with six gainers (Renaissance Capital)
- From China, The Future of Fish (Businessweek)
- Mortgage Mess: Shredding the Dream (Businessweek)
- U.S. Debt Is Child Abuse: Laurence Kotlikoff (Bloomberg)
- Ad talent can't keep up with boom China ad industry (AdAge)
- Plunging Mortgage Refinancing Rates Aid the Thrifty (The New York Times)
- IMF Survey: Growth Rebounds in Middle East, North Africa (International Monetary Fund)
- America's Best Small Companies In 2010 (Forbes)
- America's property market: Home truths (The Economist)
- China's succession: The next emperor (The Economist)
- Canadian Federal deficit widens in August (Globe and Mail)
- The long shadow over Canada's housing market (Globe and Mail)
- Average College Debt Rose to $24,000 in 2009 (The New York Times)
- Debt and Disputes Cloud the Crystal Cathedral (The New York Times)
- Predators Gone, Small Fish Get Bolder (The New York Times)
- Preventing a National Debt Explosion (National Bureau of Economic Research)
- Soros: The Real Danger to the Economy (New York Review of Books)
- Asset Allocation After the Crisis: Is This Time Different? (Institutional Investor)
- Appreciating the delicious mess that is poutine (sfgate.com)
- Cholera Confirmed in Haiti's Capital (The Wall Street Journal)
- The Role of Media in the Credit Crunch: The Case of the Banking Sector (Social Science Research Network)
- Scale-Invariant Properties of Public-Debt Growth (SSRN)
- The Slate Jobs Map, Updated (Slate)
At the time of publication, Kedrosky had no positions in stocks mentioned, although holdings can change at any time.
--Written by Paul Kedrosky in La Jolla, Calif.
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Dr. Paul Kedrosky is a former highly ranked sell-side technology equity analyst, and he currently runs a technology finance institute at the University of California, San Diego. He is also a venture partner with Ventures West, an institutional venture capital firm with more than $400 million under management. He maintains a widely read blog called
Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While Kedrosky cannot provide investment advice or recommendations, he appreciates your feedback;
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