Carpe Diem

Tuesday night links

1. Women-Owned Investment Firms and Hedge Funds Are Blowing Away The Competition.

2. “Saudi Australia”: Major $20 trillion shale oil find in South Australia - Coober Pedy has between 3.5 and 233 billion barrels of oil.

3. Walmart is Paying $17 per Hour Starting Wages in Williston ND, Due to the Bakken Oil Boom.

4. Adjusting for the cost of living, workers in right-to-work states have 4.1% higher incomes than forced unionism states.

5.  GALLUP: U.S. Economic Confidence Index Surges to a Five-Year Weekly High.

6. Why Americans Still Don’t Drive Electric Cars - They’re Only 0.1% of the 15-million-car-per-year US car market.

7. University of Minnesota offers a seminar on “The Female Orgasm.”

8. Case-Shiller: US home prices increased 5.52% in November from a year ago, highest annual increase in more than six years, since August 2006.

9 thoughts on “Tuesday night links

  1. “…There have been a number of studies that show women investors to be more risk adverse, and therefore potentially better able to escape market downturns and volatility.”

    This has to be one of the dumbest sentences I’ve ever read. First of all, it’s “risk averse” and nobody who runs money can “escape” volatility and downturns. Handling both is part of your job.

    Rothstein asked 366 senior-level women in the alternative investment industry for their points of view, and nearly half admitted their gender made it “more difficult to succeed” in the business.

    That’s curious. I thought it would be a problem for me, but it wasn’t. Not a single investor cared about my gender. Nobody did. My track record was all that mattered to anybody. My husband had two female bosses when he was an up and coming trader at one and he never thought twice about it.

    More specifically, in an industry where reputation and track record weigh so heavily on moving up, there aren’t enough open positions for women to get their feet in the door.

    There are plenty. If you can’t find one you like, make your own. Salomon Brothers was born of Jews who would not be hired by existing WASPy investment banks.

    And it doesn’t help that not many women grow up dreaming about working in finance.

    Ah. And here it is: the real reason there are few women in finance and trading and investment management in particular. Fewer of us want to be.

    Why does every article about women have to be so annoying?

    Read more:

  2. I was watching a PBS news program in Chicago last night. A Democrat Congressman from Illinois insisted that right to work states pay poverty level wages. And the host did not challenge this statement. Just another reason not to watch PBS.

  3. Aussie shale oil?

    Seems like the long-term ceiling on oil prices is south of $100. Sheesh, we may see 20 years like the two decades after 1979—-years and years of sideways drift in oil prices, and softening.

    But hey, if oil doesn’t work, we can always go to cellulosic ethanol—GOP pinko moonshine.

    US President George W. Bush, in his State of the Union address delivered January 31, 2006, proposed to expand the use of cellulosic ethanol. In his State of the Union Address on January 23, 2007, President Bush announced a proposed mandate for 35 billion US gallons (130,000,000 m3) of ethanol by 2017. It is widely recognized that the maximum production of ethanol from corn starch is 15 billion US gallons (57,000,000 m3) per year, implying a proposed mandate for production of some 20 billion US gallons (76,000,000 m3) per year of cellulosic ethanol by 2017. Bush’s proposed plan includes $2 billion funding (from 2007-2017?) for cellulosic ethanol plants, with an additional $1.6 billion (from 2007-2017?) announced by the USDA on January 27, 2007.
    In March 2007, the US government awarded $385 million in grants aimed at jump-starting ethanol production from nontraditional sources like wood chips, switchgrass and citrus peels. Half of the six projects chosen will use thermochemical methods and half will use cellulosic ethanol methods.[10]
    The American company Range Fuels announced in July 2007 that it was awarded a construction permit from the state of Georgia to build the first commercial-scale 100-million-US-gallon (380,000 m3)-per-year cellulosic ethanol plant in the US.[11] Construction began in November, 2007.[12] The Range Fuels plant was built in Soperton, GA, but was shut down in January 2011 without ever having produced any ethanol. It had received a $76 million grant from the US Dept of Energy, plus $6 million from the State of Georgia, plus an $80 million loan guaranteed by the U.S. Biorefinery Assistance Program.

    But, ethanol use is mandated by federal diktat, so the corn industry ethanol still survives…in pinko-land.

  4. regarding the gallup economic confidence index, it seems to be running counter to consumer confidence, which absolutely plummeted 58.6 vs 66.7 month ago.

    ism and pmi continue to hover around stall speed as well.

    i’m a bit puzzled by that gallup number. i’m at a bit of a loss to see where the confidence is coming from. (perhaps housing?)

    that gdp number is unlikely to help though it seemed to be predominantly influenced by the huge drop in federal govt spending (ofsetting the huge jump in fed spend in q3 which i’m sure had nothing to do with gaming the election…)

  5. 2. “Saudi Australia”: Major $20 trillion shale oil find in South Australia – Coober Pedy has between 3.5 and 233 billion barrels of oil.

    Here we go again with the hype. If you read the story you find that there isn’t any clue about what the reserve number will be and at what cost the oil would be economic. As such anyone who claims to be an economist would understand that the headline, “Major $20 trillion shale oil find in South Australia” is speculative at best and most likely little more than BS. Get back to us when Linc Energy actually produces some oil that it can sell from commercially viable wells.

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