Links and debates and discussions and deep thoughts…

Here’s what I’m reading and thinking about this morning.

13 cents away from a problem – Bruce is one of the best financial bloggers on the planet, frankly, and I read him every day. He’s more bearish about China in the near-term than I am, but this post is more about Bank of America and the financials anyway. As he puts it, “Jim Cramer is dead wrong. Another Lehman type event is staring us in the face. It will probably come first in Europe, but it will boomerang around and hit BAC hard.”  A seriously must-read article for anybody long or short anything in the banking sector.

Redacted Version of the September 2011 FOMC Statement – The Fed is redistributing trillions of dollars via their various “programs” and that makes them more important than they’ve ever been before. And they mattered before too. The point is that you need to read these painfully convoluted Fed statements.  The good news is that David Merkel’s easy-to-understand break down and commentary about each Fed announcement clears it up for you. He’s got some dry humor laced throughout this latest version.

Yahoo! blocked e-mails about Wall Street protests – Read the comments at the bottom of the article. Nobody, but nobody believes that this was a simply “mistake” as Yahoo! claims it is.  Conspiracy anybody?  Whatever, Yahoo is still a sell.

IT Slowdown? Come On, Man! – I’ve linked to my favorite tech trader, Jay Somaney, several times lately partly because he’s simply been on fire with his picks lately. In this one, he’s bulling on Infosys INFY, Cognizant CTSH and Tata TCS.  Meanwhile, here’s something I wrote on this sector recently…

Revolution Investment ratings for Akamai, F5, Netflix and six others – Q: Can you analyse INFY for me? It’s the biggest IT stock in India. A: INFY – If you believe that corporate America will continue to get huge tax benefits by laying off Americans and hiring supposed replacements in India for the next ten years, then INFY might be for you. If, on the other hand, you’ve ever dealt with outsourced services to India as a supplier (I’ve hired Indian programmers over the years to help me build websites…never have had a good experience or a product that they’ve built even come to market) or as a consumer (I get paid randomly late if at all by some of the biggest companies I write for and every time I ask “what the hell?” they say, “Payroll and accounts receivable is outsourced to India” and that’s the entire explanation) then you probably should think twice about betting on such outsourcing trends being sustainable. Revolution Investment rating: 2/10

Look at yourself, H-P – Yahoo! YHOO, HP HPQ and maybe someday Microsoft MSFT — companies that would benefit immediately from new management. Why’s Softee’s board the only one still asleep? Ballmer’s got to go.

And be sure to check out my Revolution Investing Newsletter published here on Marketwatch.

Cody Willard writes Revolution Investing for MarketWatch and posts the trades from his personal account at At time of publication, Cody was net long Microsoft.