Saturday

College majors: "Job or no job?"

This is not bear market behavior. The market is trying to speak to you ever so softly through price action. This is exactly what sentiment felt like in late 2009 and mid 2010. There were a million ways to spin the decline of modern civilization, but the market kept going up. Well, this is the same market that no one believes in.

Paper: No need for conspiracy: Self-organized cartel formation in a modified trust game: "It is often discussed if the observed fluctuations are a result of collusion among the gas companies, who attempt to increase the gas prices in unison [12]. Although this is certainly a possibility, our model shows that an explicit coordinated behavior among sellers is not an indispensable requirement for a cartel behavior."

NYT: "How U.S. Lost Out on iPhone Work"