A few midweek tidbits as the roller coaster rolls on...
- Bloomberg's Jane Bryant Quinn summarizes Jason Zweig's "Your Money and Your Brain," an excellent, accessible addition to the behavioral finance library.
- Yves Smith passes along a Financial Times story on delays--and the risk of deeper problems still--in the launch of The Entity (i.e., "Master Liquidity Enhancement Conduit").
- At Calculated Risk, Tanta notes Freddie Mac's latest report on cash-out refinancing activity (number of refis up, cash taken down). Given the importance of mortgage equity withdrawal to consumer spending, these are important and revealing numbers.
- In The Economist, "Buttonwood" riffs on the present buoyancy and future prospects of emerging markets.
- At the WSJ's Deal Journal, Dennis Berman shares an insightful Q&A with Jim Keegan of American Century Investments. A highlight: "'You can package together a whole slew of risky products and somehow create a Triple A-rated product and get paid more for it,' that just defies common sense. In this cycle as in other cycles, common sense is not that common."