In this week’s Common Sense entry, James Stewart lets us in on how an entity that loses so much money (Snap) could be worth so much [it gained 44 percent on its offering price in the first day of trading]. The answer is being okay with some “very lofty assumptions” and banking seriously on growth – NYTimes

Federal agents raided 3 Caterpillar buildings near its Peoria, IL headquarters today in what’s being called an “escalation of an inquiry” into CAT’s offshore tax practices – NYTimes and WSJ and Bloomberg and Law360

The running post-crisis fine total for the world’s biggest banks now tops $321 billion – Bloomberg

Amazon Web Services went down this week and took an impressive chunk of the internet with it. The culprit, as it turns out? Human error, in the form of a typo – WSJ and Bloomberg

Pimco’s Income Fund has more than emerged from the long shadow of former Bond King Bill Gross, and it has Dan Ivascyn to thank – Bloomberg

Moody’s has convinced a NY Federal Judge to dismiss a False Claims Act suit by a former managing director over the company’s ratings during the lead-up to the financial crisis – Law360

The bitcoin roller coaster is back at the top of the hill, with prices surging yesterday to a new all-time high and, for a day, at least, eclipsing the price of gold – WSJ

Bloomberg suggests that the reports of Dodd-Frank’s imminent demise may have been a bit exaggerated – Bloomberg

He may not be with the Vikes that much longer, but just your average man on the street?  Hardly – StarTribune

Have a good weekend.