The Big Picture

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• Volkswagen Public Service Announcement:
• 10 Monday PM Reads
• I Love the 80′s: 1982 Low vs 2009 Low
• These Maps Show How Many Brutally Hot Days You Will Suffer When You’re Old
• 10 AM Monday Reads
• Correction? Yes. When? Nobody Knows.
• The Last Mamis Letter: “Stock Market Survival & the Meaning of Life”
• Charting the Labor Market: Current Population Survey (CPS)

Volkswagen Public Service Announcement: Posted: 07 Jul 2014 05:00 PM PDT VW demonstrates why you shouldn’t text and drive.     Volkswagen – Eyes on the road 25 million views and counting

10 Monday PM Reads Posted: 07 Jul 2014 02:30 PM PDT My afternoon train reads: • Percentages vs. dollar figures: which tell investors more? (WSJ) • Is this the jobs recovery we’ve been looking for? (WonkBlog) • How to Rebalance Your Portfolio (WSJ) see also Bond Investors Ignore Cries of “Wolf’ and Pile Back In  (BW) • Wealth: Please Don’t Feed the Bears (HNW) • Bernanke – What the Fed did and why: supporting the recovery and sustaining price stability (Washington Post) • Wild and Crazy Times at the Low End of the Housing Market (CEPR) • Values, Innovation, Strengths, and Trading Success (TraderFeed) • 5 reasons why cars in the US are more fuel-efficient than ever (Vox) • The Most Powerful Person in Finance at Every Age (Business Insider) • ‘Seinfeld,’ No. 14 in Its Debut Season, Would Beat Every Show But One Today (The Wrap) What are you reading?   Why interest rates may stay very low for a lot longer Source: LA Times

I Love the 80′s: 1982 Low vs 2009 Low Posted: 07 Jul 2014 10:30 AM PDT click for ginormnous chart Source: The Chart Store   "I Love the ’80s" was a BBC television miniseries that examined the world through the lens of 1980s pop culture. (VH1's riff on the show can be found here). I bring up the ’80s because of a wonderful chart from Ron Griess who runs The Chart Store. Continues here

These Maps Show How Many Brutally Hot Days You Will Suffer When You’re Old Posted: 07 Jul 2014 09:30 AM PDT Source: Climate Desk

10 AM Monday Reads Posted: 07 Jul 2014 07:00 AM PDT Welcome back to the workweek. My morning  train reads (continues here): • Why interest rates may stay very low for a lot longer (LA Times) but see Investors are seriously underestimating where interest rates ought to be in two years’ time (MoneyBeat) • Gold might be up this year, but it's worth only $800 (MarketWatch) • What Investors Are Worried About Today (Morningstar) see also It’s time for U.S. firms to earn stock investors’ faith (WSJ) • What rock and roll taught the world about money (MarketWatch) continues here

Correction? Yes. When? Nobody Knows. Posted: 07 Jul 2014 05:30 AM PDT Welcome back from the long holiday weekend. Before we left for our nation's birthday celebration, markets had a little party of their own: The Dow had broken 17,000, the Standard & Poor’s 500 Index had touched a record high and was spitting distance from crossing 2,000. Even the small-cap indexes such as the Russell 2000 and the S&P 600 have notched new highs. And the Nasdaq, up 255 percent since the March 2009 low, is less than 15 percent away from the record set in the dot-com-era market of 2000. Despite evidence that new highs are bullish — we don't get them during bear markets — the commentariat and much of the news media sees this as a matter of great concern. Consider a perusal of this morning headlines: • “Why the 17,000 Dow is bound to crash” • “With Stocks So High, Should Investors Move to Cash?” • “5 reasons not to watch for a stock market correction ” • “What Investors Are Worried About Today ” Some of these articles make for interesting reading, but they don't make for especially good investing advice. Why? I can think of three reasons:  Continues here

The Last Mamis Letter: “Stock Market Survival & the Meaning of Life” Posted: 07 Jul 2014 03:30 AM PDT Justin Mamis is a famed technician and legendary strategist. His book When to Sell was one of the first to address that obviously important but oft overlooked aspect of trading & investing. He is now 85, and after a long career observing markets, is finally retiring. He has graciously made his final commentary available for the public as he sails off into the sunset. Enjoy.     See also The More Enthusiasm, the Closer to a Top

Charting the Labor Market: Current Population Survey (CPS) Posted: 07 Jul 2014 02:30 AM PDT

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