Pseudo Random Links

If you need a reminder that markets can stay irrational far longer than you can stay solvent here’s a great one. http://www.macrobusiness.com.au/2012/02/touring-chinas-ghost-coast/

A sobering look at real returns. I question the  exclusion of the German numbers since currencies that effectively go to zero are not that rare and I’m not a big fan of risk management via getting lucky as to when and where you were born. http://www.mebanefaber.com/2012/02/03/real-returns/
[Similarly, buy and hold is market timing based on when your parents got horny]

As an antisocial old fart I’ve always considered Facebook just another fad. It’s not that I think facilitating interaction on a global scale is a flash in the pan, quite the opposite, but the desire to do it on a site where they paw through your panties and sell their findings to the highest bidder seems the perfect fleeting fad to me. The profits they showed in their IPO filings should frighten anyone who uses them. Here’s a good method of valuing monetized monitored interaction mining (i.e. social) businesses: http://www.coriseco.com/sites/default/files/Valuation%20of%20Social%20Nets.pdf
And a kindred spirit regarding Facebook here.

Another year, another batch of rules. Anyone want to convert their 401(k) into an AIG backed annuity? http://online.wsj.com/article/SB10001424052970204662204577199053517433474.html

Steven Colbert is making a wonderful mockery of election regulations. Unfortunately I think he and his supporters are drawing the wrong conclusion and completely ignoring the unintended consequences of regulated speech. Slate

Early photos of Nick Crumpton’s latest UL frame. 648g

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