Comments »When ticking off the benefits of physical activity, few of us would include intracellular housecleaning. But a new study suggests that the ability of exercise to speed the removal of garbage from inside our body’s cells may be one of its most valuable, if least visible, effects. Full Story
Monthly Archives: February 2012
Sport Science: Blake Griffin
If you have yet to see Blake Griffin’s dunk, check out this sports science clip.
Comments »Signs of Split among Volcker Rule’s Foes
By Alexandra Alper
WASHINGTON (Reuters) – As pro-business groups clamor to convince regulators to overhaul their draft of the controversial Volcker rule, fault lines are emerging within the opposition over just what a revamped draft should look like.
The Volcker rule — named for former Federal Reserve Chairman Paul Volcker — was mandated by the 2010 Dodd-Frank financial oversight law to prevent banks that receive government backstops like deposit insurance from making risky trades with their own funds.
Heralded by the left as a means to rein in the risk-taking that nearly toppled the financial system in 2007-2009, the Volcker rule has been excoriated by the right, who warn it could take liquidity out of the market and make it hard for firms to raise capital.
The rule — whose first draft was proposed by regulators in October — would have the biggest impact on large banks such as Goldman Sachs and Morgan Stanley .
But as business groups, banks and others rush to complete comment letters before the February 13 deadline, a split has emerged Aabout the best approach to make sure the ban on proprietary trades doesn’t also capture trades that banks make for their customers’ benefit, known as “market making”, or firms’ own portfolio hedging.
Read the rest here.
Comments »Roseanne Barr Files Documents to Become President of the United States of America
Roseanne Barr — who famously butchered the National Anthem — has filed official documents to become the Green Party’s nominee for President of the United States ofAmerica.
Barr — who has been waging a Twitter and Facebook grassroots, digital campaign — has just made it official. She wants to carry the Green Party banner in the November election.
Barr says she’s sick of Democrats and Republicans, whom she believes are not working in the best interests of the American people.
So what, you ask, is Roseanne pushing? The answer is simple … pot. She wants marijuana legalized and sold strictly domestically.
As for the whole Iraq thing … she’ll get back to us.
via TMZ.com
Comments »Infographic: How Napping Can Help Your Business
BOMBSHELL: Why Obama Should Be Worried
By JIM VANDEHEI
To hear Democrats (and much of the media) tell it, President Barack Obama is a man on the rebound. The president turned in a strong State of the Union speech, picked a smart political fight over taxing the rich and authorized another heroic Navy SEAL mission in terrorist territory. Sounds like a recipe for reelection, they say.
There is a big problem with this Pollyanna punditry: There are a bunch of real-time numbers coming in that tell a much different tale.
In short, there’s a new Congressional Budget Office report that shows unemployment likely to climb to nearly 9 percent by the election, there’s polling data showing Obama tied or trailing Mitt Romney in the most important swing states (and doing only marginally better against Ron Paul), and there is mounting evidence that the assumption of a decisive Obama fundraising advantage for the fall might be flat wrong. All of this is happening while Republicans are at their worst, with Mitt Romney and Newt Gingrich spending millions of dollars and using all of their air time explaining why the other is untrustworthy, deeply flawed and eminently beatable by Obama.
Let’s look at each:
Read the rest here.
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Israel ‘Could Strike This Spring’
By David Ignatius
Defense Secretary Leon Panetta has a lot on his mind these days, from cutting the defense budget to managing the drawdown of U.S. forces in Afghanistan. But his biggest worry is the growing possibility that Israel will attack Iran over the next few months.
Panetta believes there is a strong likelihood that Israel will strike Iran in April, May or June — before Iran enters what Israelis described as a “zone of immunity” to commence building a nuclear bomb. Very soon, the Israelis fear, the Iranians will have stored enough enriched uranium in deep underground facilities to make a weapon — and only the United States could then stop them militarily.
Read the rest here.
Comments »Why Is Facebook’s Growth Slowing So Much?
Eric Jackson, Contributor
The hyper-ventilating over Facebook’s (FB) IPO filing yesterday is remarkable. Now I know what Google‘s IPO would have been like if Twitter had existed.
I think Facebook is a great business. It’s just not a great investment at $100 billion.
If it’s true that it achieves a $100 billion valuation, you will be buying a company that trades at 27x last year’s revenues. If it goes up to $130 billion in the first 3 days after the IPO (which I think it will), it will be trading at 35x last year’s earnings.
By way of comparison, when Google (GOOG) IPO’ed in 2004, its $85/share price was 15x its prior year’s revenues.
So, the Facebook bulls come back is that this is a “platform company,” with 845 million users, a big “moat,” and can come up with a whole bunch of ways to monetize that base in the future.
OK. I grant you that there are many ways Facebook can make money in the future. They could charge the New York Times (NYT) and other media companies desperate for traffic through the nose to have a “Facebook Connect” feature on their pages.
However, for Facebook to deserve (loaded word, I know) a $100 billion valuation, I would expect rocket ship growth. The trouble is that we don’t see that in the actual numbers.
Read the rest here.
Comments »Brian Williams’ Coffee Has Poop in It: A Guide to Manhattan’s Filthiest Starbuckses
The New York City Health Department recently inspected 30 Rock’s Starbucks and discovered it to be teeming with “live mice.” Consequently, the Starbucks serving the stars of NBC received a ‘C.’ Which other Manhattan Starbucks stores are among the impressively filthy elite?
Answer: The Starbucks stores serving Zucotti Park, Park Avenue, and Penn Station. All four currently have either a “C” or “Grade Pending,” the latter of which is code for “crappy grade, but they’re trying to shape up and/or are contesting it at a Health Tribunal.” The only rating worse than “C” and “Grade Pending” is “Closed.”
Here are the filthiest Starbuckses’ report cards, with notes:
Read the rest here.
Comments »Invisibly Waterproof Your iPhone
Comments »Last week, while covering an unrelated event in Park City, Utah, we stumbled upon a demonstration by a couple of guys from the company Liquipel, who we’d been hearing about for a few days and had been attempting to book for “This Could Be Big” since first seeing their video of an apparently waterproofed iPhone.
The video, and the subsequent coverage of it on the Internet, had boosted Liquipel’s visibility through the roof, but skeptic we remained… until the guys started dunking their specially treated iPhone into a tank of water, in front of our very eyes. Incredulous, we poked, we prodded, and examined the surface of the phone, and everything remained in working order despite repeated exposure to water. Their explanations were somewhat vague, but the results seemed to be there. Of course, the kicker was when they brought out a specially treated piece of tissue paper that demonstrated the same resistance to water as their Liquipel-treated iPhone.
Bond ETFs for Every Objective
Via ETFdb, by Michael Johnston
As the lineup of exchange-traded products has expanded dramatically in recent years, financial advisors have found themselves with more tools at their disposal than ever before. The extreme granularity of many of the equity products out there allows for cheap, low maintenance targeting of specific corners of the investable universe, while the development of some increasingly complex products has opened up strategies that were previously inaccessible.
But perhaps the most impressive innovation in recent years has come on the bond side of the market, where the arsenal has expanded considerably over the past two years. Whatever your objective for the fixed income side of client portfolios, odds are there is an ETF that can be used to help you out. Below, we highlight ten common objectives when it comes to managing a bond portfolio–as well as the ETFs that can be used to achieve those goals [for more ETF insights, sign up for the free ETFdb newsletter]:
Read the rest here.
Comments »A Bunch Of Charts For You
Here are today’s high volume/high hybrid movers, click here for charts.
Comments »Tom Brady ticks off an entire NFL city
Comments »A throwaway remark aimed at thanking his parents for supporting his career has made Tom Brady “the most-hated man in Buffalo.”
During a media session on Wednesday, the New England Patriots quarterback was asked to describe the commitment made by his father, Tom, Sr., in the early days of his career. Brady had no idea he was about to stumble into a storm of controversy — at least in the proud New York city by the Canadian border.
“My dad was always there to support me,” Brady said. “He’s been there every step of the way. Then I went to school a long ways from home (University of Michigan) and he and my mom were there at every home football game that they could possibly be at and a lot of road games, too.
“And even when I started my pro career, he traveled to Buffalo. I don’t know if you guys have ever been to the hotels in Buffalo — they’re not the nicest places in the world — but he would still travel to those. It was just great to grow up in a house like that and feel so supported by your mom and dad.”
Combining Trend Following and Option Selling Strategies
From the guys over at Condor Options:
Thu, Feb 2, 2012 | Jared Woodard
Historically, two of the most successful approaches to trading have been trend following and option selling. Trend following and momentum investing are strategies known to just about everybody, and option selling (i.e. collecting the volatility risk premium), while not quite as famous, is hardly a closely-held secret.
Usually, these two approaches are treated as strangers. Momentum/trend traders are conceptually long volatility in that they are willing to accept small, frequent losses from choppy markets in order to reap gains from large price swings in one direction; a stock or futures position with a trend-based rule set in place will have a similar return profile over time to a portfolio that buys straddles. Traders who are net sellers of options, in contrast, are usually looking for mean reversion to dominate, especially if they are doing so from a market-neutral standpoint. Both our iron condor and calendar spread strategies have fit this profile in the past.
In 2010, I developed a strategy designed to exhibit the best features of both approaches.
Read the rest here.
Comments »The Problem with the Profit Motive in Finance
Justin Fox is editorial director of the Harvard Business Review Group
The Financial Services Roundtable, the lobbying group for the biggest financial companies in the U.S., has a new “white paper” out with the rah rah title, “Financial Services: Safer & Stronger in 2012.” A few of the bullet points:
•Banks insured by the Federal Deposit Insurance Corporation have $1.5 trillion in capital — the highest capital levels in the history of American banking.• The largest U.S. banks have increased Tier 1 capital — the core measure of a bank’s financial strength from a regulator’s point of view — by nearly 50 percent over the last four years.
• Executive compensation has been reformed significantly to align with long-term performance.
• Banks have developed fortress balance sheets, improving credit quality by 54 percent, increasing net income and, restoring aggregate lending to pre-crisis levels of nearly $7 trillion.
Why you’re very welcome, Financial Services Roundtable! You see, almost all of the positive indicators above were enabled by or forced on banks by people working for us the taxpayers (by which I mean Congress, the Federal Reserve, and financial regulators). Most of them — increased capital, executive compensation changes, higher credit quality, fortress balance sheets — would have been fought tooth and nail by the Financial Services Roundtable before the financial crisis. (Because Jamie Dimon always gets bent out of shape when people tar all bankers with the same brush, it should be noted that JP Morgan Chase and a few other institutions were improving credit quality and building up capital before 2007. But the industry as a whole was not. If it had been, there wouldn’t have been a financial crisis.)
There’s a lesson here. If you let the financial services industry do exactly what it wants, the financial services industry will eventually get itself — and by extension the economy — into staggering amounts of trouble. If you force it to behave, it might just thrive.
Read the rest here.
Comments »Cash-Strapped College Students Turning To Food Stamps
Tuition hikes, combined with the increased cost of general living, have left many college students more strapped for cash than ever before.
As such, more and more are turning to tax-funded food stamp programs to help them afford the essentials.
The program – the Supplemental Nutrition Assistance Program, or SNAP for short – is offered by the United States Department of Agriculture for qualifying people in need.
According to its website, eligibility requirements for the program include gross and net income tests and employment requirements. It is designed primarily to assist families, however students can apply, given the age and work stipulations in place for qualification.
A sum of $200 is awarded to program participants each month, which is to be used toward grocery bills.
The stigma of the cash-strapped college student is nothing new. The use of government aid in amending the situation, however, is a more recent phenomenon.
The educational institutions are reportedly not at all involved in the process on any level, but use of SNAP for help with food bills has become something of a widely accepted practice on campuses.
Ravae Graham, the deputy director of legislative affairs and communications for the state’s Department of Human Services, said that a student’s eligibility depends largely on the amount of time they work outside of the classroom.
“If (an applicant) is working at least 20 hours per week and meets income limits, they can qualify … and college students are eligible,” she told CBS Atlanta. “And there has been a significant increase of use in the program over recent years.”
She added that students who participate in school-funded work study programs may also make the cut.
Food stamp statistics for the state of Georgia provided to CBS Atlanta show that the average size of a household receiving food stamps in 2011 averaged out to 2.40 persons.
The totals for both households and individuals have increased over the past six years, but the latter has seen an especially large spike, rising from just under 950,000 individual users in 2006 to almost 1,740,000 in 2011.
According to The Signal, a student-run newspaper at Georgia State University, a basic meal plan at the school can cost approximately $1,700, which is more than many students can reportedly afford.
“With me being a senior and living on campus for the past four years, I honestly got tired of paying that amount of money per semester just to eat,” student Taylor Smith told the paper. “I did not even know that I was applicable for food stamps until someone told me about the site and to apply to see if I would get it.”
Added Smith, “Since then, I have saved a ton of money.”
The Super Bowl Prop Bettor’s Guide
via Cousin Sal’s Gambling Blog on Grantland.com
I can’t believe it’s already here. Super Bowl XXCLVICXIILCMCMC. (I did the Roman math — it works out). Either way — I’m prepared. I’ve read up on every degenerate gambler’s wagering option connected to this game. If Congress spent half as much time reading President Obama’s health care plan as I did peering over the Super Bowl proposition menu the country would be a better place.
I know betting on the big game can be a terrifying prospect. Eight months is a long time until your next pigskin wager so you absolutely must get it right. But we’ve been betting on NFL props all year long. We’re good at this — remember? How good? I’m only down 287,000 jermajesties* on the season. You don’t get more expert than that.
Here are a few can’t-lose Super Bowl props and a bunch that aren’t but should be.
The Patriots will convert a 4th down attempt (+120)
Is this a proptical illusion? Seems too easy. Two weeks ago, Belichick employed an inexplicably ridiculous, conservative offensive game plan against the Ravens and the Patriots still managed a 4th down conversion. And if you think I have a problem wagering on old men in striped outfits measuring chain lengths wait until you see the next bet …100,000 jermajesties
Henry Hynoski over 4.5 receiving/rushing yards (EVEN)
Here it is — my Gary Russell Memorial Super Bowl prop bet of the year. (have a listen to my appearance on this week’s BS Report to get the full Gary Russell history).
I know what you’re thinking — EVERYONE’s going to take this one. It’s too obvious. Oh — that’s not what you’re thinking? Rest easy. I’ve researched this one a ton. Hynoski totaled a whopping 20 yards vs. the 49ers in the NFC title game. He’s surpassed five yards in seven games this year. Expect lots of points and lots of weird plays this Sunday. Sorry Gronkowski/Gostkowski — there’s a new Polish proposition sheriff in town — and his name is Henry Hynoski. Take the over. 150,000 jermajesties
Welker over 78.5 yards receiving (-115) and over 6.5 receptions (-115)
The Giants fantastic front four gives them the luxury of never having to blitz. That means they’ll be able to keep a few linebackers back in coverage to disrupt the Pats mutant beasts lining up at tight end. I think the confusion over the middle will force Brady to throw to his sure-handed go to route in Welker. Not to mention Welker racked up 136 yards against the Giants earlier in the year and that was before he grew the aerodynamically-enhancing mustache. 40,000 jermajesties each
First TD scored: Welker (8/1) and Manningham (12/1)
See Welker reasons above. These Manningham odds are high especially considering the man who will be responsible for covering him strongly resembles a guy who plays wide receiver for the Patriots. 10,000 jermajesties each
Total points 61-65 (7/1), 66-70 (9/1), 71-75 (12/1), 76-80 (15/1), 81+ (6/1)
All of a sudden, I’ve turned into the worst roulette player. Hear me out. Five out of the last 20 Super Bowls fell in this range. In that time half the games played in domes ended up at least in the mid 50s. That means these odds are too high. Worth a shot. 3,000 jermajesties each
Giants total points (+1/2) over Knicks 1st quarter points vs. Nets (-115)
Simple logic — the Knicks don’t get credit for points when an inbounded pass sticks to a forward’s head — the Giants do. 15,000 jermajesties
Don’t look for these. You won’t find them anywhere …
NE defensive tackle Vince Wilfork’s halftime bowel movement over/under 16.5 pounds?
That’s disgusting. I’m going over. And I don’t want to hear how I’m better than this. I’m not.
137,000/1 odds any valet would be excited to take Matthew Broderick’s Honda CRV for a joyride as they are in this Super Bowl commercial
Anyone else glad the Super Bowl ads are leaked online a week before the game so that we can go to the bathroom during commercial breaks? Anyone? Anyone?
12/1 odds Kelly Clarkson and Madonna will make out at halftime
Not likely.
38/1 Odds Al Michaels and Cris Collinsworth will make out at halftime
Even less likely.
2/1 odds Betty White will make out with and Seal at halftime.
This is a slam dunk. But not with the recently separated singer — an actual seal. That chick loves animals.
What shade of red will Tom Coughlin’s Rosacea-cursed face be at the end of the game?
Scarlet and crimson are sucker bets. I’m going with vermillion at 11/1.
65/1 odds Kelly Clarkson gets a last minute Chili’s endorsement deal and during the national anthem replaces the phrase “home of the brave” with “home of the awesome blossom”?
I know. That was a long way to go for a blooming onion joke. Bear with me — this is almost over.
Who will NBC show first in the owner’s box: The Girl with The Dragon Tattoo (Rooney Mara, daughter of Giants VP Chris Mara) or an actual girl with an actual dragon tattoo — Rob Gronkowski’s porn star girlfriend?
If the peacock network has any kind of sense of humor they’ll shoot for the latter.
Even odds that for the ninth year in a row Danica Patrick will get cut-off unzipping a leather jumpsuit in a godaddy.com ad.
I joke but the truth is to this day she’s still one of the sexiest female dwarf drivers NASCAR has to offer.
Over 35.5 players from both teams are forced to share the same two prostitutes in Indianapolis.
This is cruel and not at all fair to the players. Like the Brady children having to share the same bathroom as Alice the maid. Barbaric!
1/3 odds that Madonna gets replaced by Kellie Pickler after failing the HGH test.
Hold on. I have a few of these.
Number of game balls made from Madonna’s skin — over/under 8
Almost there.
Which will be higher: Victor Cruz receiving yards or number of visible veins in Madonna’s arms?
Okay — that’s enough. Wait — one more.
Over/under 2.5 friends of yours that will out themselves at your Super Bowl party by knowing all the lyrics to Madonna’s La Isla Bonita
If by any chance you dreamt of San Pedro last night — please keep it to yourself. Or at least save it for a Glee re-run.
5/2 odds Eli Manning’s wife Abby leaps from her luxury box seat to her death after NBC shows a side by side photo of her and Gisele Bundchen.
Hold on — I’m looking at a picture of Abby now. She’s actually pretty cute. Let’s make it 7/2 odds.
Even odds that NBC shoe horns in Whitney Cummings’ irreverent female take on football.
Hey NBC — you already spared us Fear Factor‘s donkey semen stunt. Please do us all a favor and give us a pass on this one as well.
Which will be higher: television shots of Peyton Manning or television shots of Peyton Manning doing shots?
I know — it’s a thinker.
3/1 odds that at next year’s Media Day I will be asking white players who their favorite black person is much like I did last night on Jimmy Kimmel Live
Sorry, black folks — white people are dumb.
That’s that. Enjoy the game. And regardless of how much real money I’ve cost you this year with my fake advice — let’s really try to stay friends this year.
— Cousin Sal
*(Obligatory weekly explanation: A “jermajesty” represents the fake name given for a dollar amount. It is also the unfortunate name of one of Jermaine Jackson’s sons.)
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