Monday, March 18, 2013

Watch the Cyprus Bombast | The Big Picture

Barry Ritholtz on the flurry of piss-poor analysis/reporting/commentary already swirling around about the Cyprus situation:
This is not about punishing savers. It is about a 1 million person island that has become a tax haven for Russian oligarchs. It is not another MF Global. No one is confiscating.
I expect to see a run of very serious articles about "Confiscation" and "Moral Hazard" and other such empty headed filler. I plan on ignoring much of the blather, choosing to focus my limited time and attention on smart analysis and commentary. Like this and this.
An important skill to develop is the ability to read critically and think analytically. After years of practice — I taught the GMAT & LSAT while in grad school — it becomes second nature. I can tell in a sentence or three if something is worth reading further. Perhaps this accounts for the popularity of the AM and PM my reads.
Like Barry, I taught the GMAT and LSAT in grad school, and I credit that experience (along with the 1L law school curriculum) for my ability to spot bullshit quickly. 

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