Things going on in the world

1. New Zealand is leading the way in IP law by banning software patents. If they were a larger country this would have more of an impact, but if this were a larger country the lawmakers probably would have been bribed to preserve the rent-seeking status quo for patent trolls.

2. Kim Jong Un's ex lover was executed for producing sex tapes. I'd say his wife Ri Sol Ju caught him watching the tapes. But a more likely version of the story is that she decided to flex her power to get rid of many of her former rivals. If the wife is that bloodthirsty then it suggests that the chances for long term North Korea liberalization are lower than they would be if the situation were different.

3. I can't believe that Soros dicussing his HLF purchases is insider trading, it sounds like outsider trading to me. It also sounds like Ackman is desperate to try to get revenge on an investor who bet against him and withdrew his money from Ackman's fund.  On the other hand, it looks like these Canadian directors got away with things they shouldn't have when they issued themselves options before announcing "spectacular" drill results.

4. The Justice department clarified its stance on how it is going to turn a blind eye towards recreational marijuana use in Washington and Colorado and that recreational use by adults (assuming they aren't driving or giving it to minors) isn't a priority in other states either. It's unclear why these changes didn't come four years earlier or why shutting down medical marijuana dispensaries in California was such a large priority, but it is a welcome change.