Monday Links
Interesting Edward Altman paper, THE RE-EMERGENCE OF DISTRESSED EXCHANGES IN CORPORATE RESTRUCTURINGS [pdf]. I've gotten interested recently and I've been reading distressed debt books.
Here's a fascinating writeup about "menu engineers," who help businesses "maximize revenue by hacking common flaws in human decision-making."
What's the opposite of a green shoot? Here's a withering vine: hot-rolled steel has dropped about 8% in price since August. Looks like mills overreacted in halting production, then overreacted in starting back up. Overcontrolling.
Put call ratio still shows extreme positive sentiment.
Great Minsky quote: “There is nothing wrong with macroeconomics that another depression [won’t] cure."
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