Schaeffer's Trading Floor Blog

Required Reading: James Bullard Is Dismayed With All of Us Today

Please stop trying to make 'Octaper' happen

by 9/20/2013 1:51 PM
Stocks quoted in this article:

Stocks are set to end the week on a negative note, because St. Louis Fed President James Bullard said the central bank might, possibly, maybe think about tapering in October ... even though everyone was apparently expecting them to make a taper announcement two days ago, anyway. (It's an emotional roller coaster this week.) Here are a handful of notable reads to round out your Friday afternoon.

  • I give a lot of credit to Steve Matthews and Caroline Salas Gage at Bloomberg, because their write-up on today's Bullard remarks refrains from using the abomination word "Octaper." Yeah, get used to hearing that over the next month. Key Bullard quote: "I'm a little dismayed at those in markets that are saying they're surprised" by the decision to hold off on tapering, since central bankers said they would wait to see improving economic data in the second half of the year before pulling the trigger. (Bloomberg)

  • Warren Buffett, who is old enough and wealthy enough to say whatever he wants, believes it would be "pretty damn dumb" for legislators not to raise the debt ceiling. He also thinks "Health-care costs in this country are a tapeworm of American business," and may or may not be working on his Andy Rooney impression. (CNBC)

  • Best Buy (NYSE:BBY) "is awful and deserves to die," according to this article -- but the investors who have watched the shares gain about 230% so far this year probably feel differently. (Slate)

  • Dow Jones and All Things D are splitting up at the end of the year. Except, actually, Dow Jones and All Things D are sticking together, and they're both splitting up with a tech blog that will need a new name at the end of the year. (USA Today)

  • "Pinterest is laying the foundation to become a real business," says this article, as though hosting untold millions of cupcake pictures were not a real business. (The Wall Street Journal)

  • If you want to own a piece of AMC's (NASDAQ:AMCX) Breaking Bad, check out Screen Bid starting Sept. 29. They're auctioning off 171 props from the show, including Gustavo Fring's Pollos Hermanos air freshener and (of course) Walter White's briefs. Seriously, though -- nobody bid on Skyler's Wagoneer. IT'S MINE. (CNNMoney)

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