24th Jan

Heavy reading on shadow banking, another definition..
The Shadow Banking System is an Unstable Funding System for Banks, Not Assets
{http://syntheticassets.wordpress.com/2014/01/23/the-shadow-banking-system-is-an-unstable-funding-system-for-banks-not-assets/}
'The New York Fed monograph is often used to demonstrate how complicated and virtually incomprehensible the shadow banking system is.'

{http://www.newyorkfed.org/research/staff_reports/sr458_July_2010_version.pdf}
Oh, this is how it works, yo'll need to print a 48" poster to read it.

Don’t believe the hype about behavioral economics ,  - behavioral economics is over-rated because of her cognitive biases
{http://qz.com/169605/dont-believe-the-hype-about-behavorial-economics/}

An interesting piece trying to establish momentum in stocks. Highlight the flaws in historical trending and how arbitrary it can be by picking particular dates.
"With a 1-in-4 chance of getting a 20%+ return when investing money on any random day it puts in perspective that while 2013 was great it is not as unusual as many think."
{http://www.thereformedbroker.com/2014/01/23/the-truth-about-momentum-and-calendar-year-returns/}

Most Germans don’t buy their homes, they rent. Here’s why
{http://qz.com/167887/germany-has-one-of-the-worlds-lowest-homeownership-rates/}