05/27/17 – Saturday’s Interest-ing Reads

  • ‘Top Gun 2’ is an awful idea. (bloomberg)
  • Pizza down on the farm? Yes, please. (atlasobscura)
  • It’s mainly big companies that buy green power. (wsj)
  • Human beings are a future looking species. (nytimes)
  • Apple ($AAPL) is not a tech company. (aboveavalon)
  • OPEC and Russia Fave Failed to Fix the Epic Oil Glut (cnn)
  • Can the Statue of Liberty be saved from rising sea levels? (bloomberg)
  • In Germany offshore wind is price competitive with nuclear power. (thinkprogress)
  • An up-close look at Antarctica’s rapidly changing environment. (nytimes)
  • What happens to sea levels if the West Antarctic Ice Sheet collapses? (discovermagazine)
  • China’s Xi Has Bitten Off More Than He Can Chew (project-syndicate)
  • Your data is far more exposed than you think. (wsj)
  • Fox News’s Dominance of Cable News
Read the rest
  • ‘Top Gun 2’ is an awful idea. (bloomberg)
  • Pizza down on the farm? Yes, please. (atlasobscura)
  • It’s mainly big companies that buy green power. (wsj)
  • Human beings are a future looking species. (nytimes)
  • Apple ($AAPL) is not a tech company. (aboveavalon)
  • OPEC and Russia Fave Failed to Fix the Epic Oil Glut (cnn)
  • Can the Statue of Liberty be saved from rising sea levels? (bloomberg)
  • In Germany offshore wind is price competitive with nuclear power. (thinkprogress)
  • An up-close look at Antarctica’s rapidly changing environment. (nytimes)
  • What happens to sea levels if the West Antarctic Ice Sheet collapses? (discovermagazine)
  • China’s Xi Has Bitten Off More Than He Can Chew (project-syndicate)
  • Your data is far more exposed than you think. (wsj)
  • Fox News’s Dominance of Cable News Looks Increasingly Tenuous (economist)
  • "Few parts of the U.S. are as exposed to the threats from climate change as Ocean County, New Jersey." (bloomberg)
  • On the Mac which is better: Safari or Chrome? (daringfireball)
  • How life, as we know it, came to be on Earth: successive energy expansions. (theatlantic)
  • Forecasts of solar installations have been horribly wrong. (visualcapitalist)
  • An illuminating look at some ways to store renewable energy for later. (wsj)
  • A Budget With Math Errors & Fraction of a Wall (fivethirtyeight)
  • We’re all self-delusional this only question is how much. (theverge)
  • In praise of nutrient-dense foods. (heleo)
  • Labels Matter: What to Call the Stock Rally (bloomberg)
  • Switzerland has voted to phase out nuclear power. (qz)
  • Bitcoin’s Price Surge: Are Governments Behind It? (fortune)
  • Placebos work even when patients know they are placebos. (theguardian)
  • Do doctors get worse as they get older? (hbr)
  • What it will take to ‘mainstream’ behavioral economics? (voxeu)
  • On the safety profile of magic mushrooms: pretty safe. (businessinsider)
  • Why we often jump to worst-case scenarios. (qz)
  • Beware of Central Bankers Bearing Gifts (hedgeye)
  • Where Do You Get Better Deals — Costco or Amazon? (marketwatch)
  • How to protect your smartphone from accidental damage. (nytimes)
  • Want to Make Money? Buy the Things Investors Hate (forbes)
  • The Disappointing U.S. Economy Keeps Coming Up Short (cnbc)
  • The Secret Purposes Behind New Amazon Bookstores (yahoo)
  • You should feel good about eating American fish. (bloomberg)
  • The great London property squeeze. (theguardian)
  • In California, nut theft is a big problem. (outsideonline)
  • Amazon ($AMZN) is now publishing bestseller and most-read book lists. (techcrunch)
  • Sex killed the love song. (theguardian)
  • Battery production is helping gird the sale of solar panels (ft)
  • Mountain biking has become an engine for economic revitalization. (outsideonline)
  • Does the US Stock Market Have a Case of Bad Breadth? (valuewalk)
  • The US is once again awash in milk. (wsj)
  • Is optimism a skill that can be learned? (bigthink)
  • There aren’t enough slaughterhouses to support the farm-to-table movement. (bloomberg)
  • Humans have unwittingly created a protective shield around the Earth. (theatlantic)
  • Yoplait once owned the yogurt category. What happened next? (fortune)
  • The Chicago Cubs’ new clubhouse has a unique shape to encourage interaction. (wsj)
  • How charger company Anker is taking on Apple ($AAPL) and Samsung. (theverge)
  • Wall St. Laughed at Bitcoin. After 400% Surge, Laughter Fades (marketwatch)
  • Electric cars are set for their ‘Model T moment.’ (visualcapitalist)
  • Prepare to pay more for olive oil. (ft)
  • J. Crew missed the retail revolution. (wsj)
  • How to not raise a spoiled child. (townandcountrymag)
  • Major World Economies to Come up $400 Trillion Short on Retirement (bloomberg)
  • The rise and fall of khaki. (racked)
  • The upside of worrying: vigilance. (qz)
  • College freshmen are less religious than ever. (blogs.scientificamerican)
  • Home batteries are not economic yet. (wsj)
  • 5 secrets of consistent exercisers. (wsj)
  • Finally the FDA is planning to eliminate the use of trans fats in food. (thedailybeast)
  • Students in elite colleges need to learn to take care of themselves. (qz)
  • Now Subaru is thinking about going electric. (bloomberg)
  • A dozen lessons learned about money and investing from Kendrick Lamar. (25iq)
  • Expecting a Big Economic Bump? It’s Looking Less Likely (nytimes)
  • 8 open questions about baseball including the continued interest in the shift. (fivethirtyeight)

05/26/17 – Friday’s Interest-ing Reads

Read the rest
  • The case against all things metal. (allstarcharts)
  • Barry Quinn, "Hire slowly, fire quickly. To give your company the best chance and a team of A players, be rigorous in your reference checking." (nothingventured.rocks)
  • How sovereign wealth funds are approaching venture capital. (institutionalinvestor)
  • The Forgotten Basketball Pioneer Who Made Stephen Curry Possible (wsj)
  • If you have not yet heard Charley Ellis before check out this talk with Ted Seides. (tedseides.libsyn)
  • Why is wage growth as high as it is? (nytimes)
  • In defense of Vanguard. (pragcap)
  • If the year ended today, Poland’s stock market would be the best performing. (pensionpartners)
  • The stock market is not in a bubble. (brooklyninvestor.blogspot)
  • It’s hard to imagine the Fed not raising rates in June. (economistsview.typepad)
  • A Rosé Drive-Through and Four Other Ways to Achieve Instant Summer (bloomberg)
  • The median time to exit keeps getting stretched out. (venturebeat)
  •  Mushrooms Are the Safest Drug You Can Take (tonic.vice)
  • Ivy League jocks are finding Wall Street increasingly inhospitable. (wsj)
  • Technology isn’t about features any more. It is about fundamental business processes. (wsj)
  • What The Yield Curve Is Telling Us (capitalspectator)
  • The Little Guy’s Financial Watchdog May Soon Be Defanged (thefiscaltimes)
  • Deception and False Comparisons: The "Renewable Jobs" Lie (forbes)
  • Budget Deficits Never Bring Countries Down, but Socialism Does (realclearmarkets)
  • The Blind Taste Test That Changed the Wine World (npr)
  • How Vanguard became the King of Mutual Funds. (bloomberg)
  • How 40 Years Of Star Wars Has Saved My Life (jamesaltucher)
  • Brett McKay talks with David Kwong author of "Spellbound: Seven Principles of Illusion to Captivate Audiences and Unlock the Secrets of Success. (artofmanliness)
  • Hedge Funds Are Getting Priced Out in the World’s Costliest City (bloomberg)
  • Stocks Are Rallying Again. Why That May Not Last (thefiscaltimes)
  • Any of These 3 Manias Could Be About to Run Aground (fee)
  • Is the worst over for the golf industry? (bloomberg)
  • Walt Mossberg’s last column: The Disappearing Computer. Tech was once always in your way. Soon, it will be almost invisible.&#xA0 (recode)
  • Rethinking the Next China: Risks and Opportunities (project-syndicate)
  • Existing Home Sales: Spring Selling Starts With a Whimper (realclear)
  • ExxonMobil ($XOM) is in the crosshairs of ESG funds. (blog.esharesinc)
  • The Expected Future Of S&P 500 Dividends (blogspot)
  • Facebook ($FB) is pushing hard into TV-like shows. (businessinsider)
  • Larry Summers’ Scandalous Error (alhambrapartners)
  • B-school students have more psychopathic tendencies than other students. (dealbreaker)
  • Fed Is Losing Its Influence Over the Bond Market (bloomberg)
  • Jail Break: America’s Prisons Are Failing. How to Make Them Work (economist)
  • How quants hope to transform ESG investing. (institutionalinvestor)
  • Weekly initial unemployment claims are trending at low levels. (calculatedriskblog)
  • Going to Absurd Lengths to Avoid News, Fox Is Losing Viewers (slate)
  • Is Apple ($AAPL) going to build an Alexa-killer? (fastcompany)
  • Excel is getting unbundled. (tomtunguz)
  • Did This Signal A Top For Bitcoin? (marketwatch)
  • Why the Big Next Financial Crisis Could Come In Forex (reuters)
  • 4x, 3x…what matters is volatility. (blog.tfscapital)
  • How to get an e-mail replied to by a VC. (businessinsider)
  • What the 150-year old Indian rail system can teach us about trade. (bloomberg)
  • The NYSE wants to be the destination for direct listings like Spotify. (wsj)
  • Hedge funds and startups are fighting over quant talent. (wsj)
  • Mark Zuckerberg Has a Harvard Degree, & a Big Mission (usatoday)
  • Barry Ritholtz talk with venture capitalist Marc Andreessen of Andreessen Horowitz. (ritholtz)
  • Why It’s So Hard to Admit You’re Wrong (nytimes)
  • No One Loves Anything as Much as Al Franken Loves Dunking on Ted Cruz (fusion.kinja)
  • Meb Faber talks with Elizabeth Dunn co-author of "Happy Money: The Science of Happier Spending" on how to spend our money better. (mebfaber)
  • Why’s Kansas So Eager to Oversee Biggest Tax Increase Ever? (weeklystandard)
  • For companies there is a big difference between ‘must do’ and ‘can do.’ (avc)
  • When the big boys take notice of what you are doing you have already won. (bothsidesofthetable)
  • Is Uber ultimately doomed? (fortune)
  • Equity crowdfunding has yet to take off. (bloomberg)
  • Not all emerging markets are created equal. (visualcapitalist)
  • The End of a Bull Market Can Be a Nightmare for Bears (yahoo)
  • Stephen Colbert Wins Season Ratings Battle, Thanks to DVRs (nytimes)
  • Founders (and VCs) keep getting younger. (mercurynews)
  • Mainstream hedge funds are pushing into quant strategies. (wsj)
  • Puerto Rico’s Political & Economic Crisis Continues to Deepen (thenation)
  • German MBA students are staying close to home. (ft)
  • Lament of ‘Trade Deficit’ Is Admission of Misunderstanding (forbes)
  • Why the myth of the PPT lives on. (thereformedbroker)
  • DJI’s tiny new Spark drone is $499 and kind of a big deal (social.techcrunch)
  • Ag commodities vs. ag stocks: you make the call. (bloomberg)
  • Jessica Lessin of The Information talks about why consumer should play for news. (recode)
  • Some Questions for Those Who Bemoan ‘Income Inequality’ (triblive)
  • The Real Reason for Overbooked Planes & Cramped Cabins (thenation)
  • There is no season for balanced portfolios. (longboardfunds)
  • Tyler Cowen talks with Raj Chetty one of the most influential economists in the world. (medium)
  • 3 Percent Growth Should No Longer Be Something From the Past (realclearmarkets)
  • Retirement Savers Really Do Need the Government’s Help (bloomberg)
  • Business lessons from the Knicks and Nets (crainsnewyork)
  • Hey insider traders, don’t gloat about your trades in an e-mail. (bloomberg)
  • Globalization, Gold and the Return of History (wsj)
  • It’s Not Too Late to Jump on the Tech Bandwagon (barrons)
  • Grocery Stores: An American Miracle (theatlantic)
  • Could Quants Transform ESG? (institutionalinvestor)
  • World Bank’s Star Economist Is Sidelined in War Over Words (bloomberg)
  • The Opaqueness of U.S. Economic Policy (realclearmarkets)
  • Kushners, Saudis and Blackstone: Behind the Deals (bloomberg)
  • The pros and cons of frontier markets. (beta.morningstar)
  • Amazon ($AMZN) just made its Prime Fresh membership more useful with easy grocery pick-up. (geekwire)
  • Fidelity is launching sustainable investing funds. (beta.morningstar)
  • The case for gold. (marketanthropology)
  • "Anumeric" people: What happens when a language has no words for numbers? (theconversation)
  • A ‘This American Life’ segment on what its like to be neurotic. (nymag)
  • How at-risk are hedge funds to machine learning counterparts? (ft)
  • The World Is Running Out of Sand (newyorker)
  • Our personal experiences deeply affect our risk-taking abilities. (collaborativefund)
  • Stock Ownership Down Among All but Older, Higher-Income (gallup)
  • China Has a Huge Debt Problem. Just How Bad Is It? (cnn)
  • The Bears Have Made Some Progress on Vulnerability Fronts (ciovaccocapital)
  • The Many Lessons within Mallaby’s ‘The Man Who Knew’ (realclear)
  • Facebook: Mark Zuckerberg’s Great American Roadtrip (nytimes)
  • Why VCs should look for ‘naive optimism’ in founders. (bothsidesofthetable)
  • Patrick O’Shaughnessy talks with David Salem CIO of the Windhorse Group. (investorfieldguide)
  • Why the ‘blind squirrel’ theory of VC portfolio construction doesn’t work. (acrowdedspace)
  • There’s no shame in a $100M startup. (techcrunch)
  • Michael Covel talks with trading coach Denise Shull. (trendfollowingradio)
  • The price-to-sales ratio for the median stock in the S&P 500 is higher than ever before… (thefelderreport)
  • Are Shrooms the New Weed? (esquire)
  • Brett McKay talks with Winstom Groom author of "The Aviators." (artofmanliness)
  • What Not to Buy in Today’s Stock Market (contrarianedge)
  • All you’ve ever wanted to know about the “halo” Ferrari supercars (classicdriver)
  • Buy? Sell? Politics May Move Market, But Rarely for Long (nytimes)
  • Michael Covel talks with R.P. Eddy, CEO of Ergo, a strategy and geopolitical intelligence firm and co-author of “Warnings: Finding Cassandras to Stop Catastrophes.” (trendfollowingradio)
  • Stanford MBA grads are the highest paid. (qz)
  • Opendoor wants to buy your house. Competitors are lining up behind them. (nytimes)
  • How effective benchmarks are important for individual investors. (marketfox)
  • Valuation Measures For Bulls (yardeni)
  • The ‘Hard’ Economic Data Should Worry Investors (marketwatch)
  • How a Small Retirement Savings Increase Can Transform Income (investors)
  • "Before you model it, plot it." (mrzepczynski.blogspot)
  • Cycles, Sectors, and the Perils of Aggregated Data (fortunefinancialadvisors)
  • Greece:George Soros’ Trojan Horse Against Europe (spectator)
  • The Devastating Effects of Dental Inequality in America (newrepublic)
  • Eliminating Dodd-Frank’s Overrated Escape Hatch (realclearmarkets)
  • Focus on your goals, not the timing. (finuke)

05/24/17 – Wednesday’s Interest-ing Reads

  • What Are We Telling Investors? Focus on Fundamentals (realclear)
  • ESG is coming to the bond market. (bloomberg)
  • 2,000 Wall Streeters just had a meeting in Las Vegas and they all kept making the same awkward noise (businessinsider)
  • "Exclusionary Zoning": Opportunity Hoarding by Upper Middle (realclearmarkets)
  • The robo-advisors are pushing up-market. (bloomberg)
  • There are still a few barriers to entry in the investment business. (awealthofcommonsense)
  • Facts are not the antidote of doubt. (sethgodin.typepad)
  • “Buy the Dip” Is Becoming a Pavlovian Reflex (Becoming?) (blogs.wsj)
  • Ultimate Stock-Pickers: Top 10 High-Conviction Buys (morningstar)
  • The case for overweighting European stocks. (thereformedbroker)
  • What new graduates need to know before entering wealth management. (forbes)
  • Driverless cars inspire a new gold rush in California (ft)
  • A closer look at the evolution of the
Read the rest
  • What Are We Telling Investors? Focus on Fundamentals (realclear)
  • ESG is coming to the bond market. (bloomberg)
  • 2,000 Wall Streeters just had a meeting in Las Vegas and they all kept making the same awkward noise (businessinsider)
  • "Exclusionary Zoning": Opportunity Hoarding by Upper Middle (realclearmarkets)
  • The robo-advisors are pushing up-market. (bloomberg)
  • There are still a few barriers to entry in the investment business. (awealthofcommonsense)
  • Facts are not the antidote of doubt. (sethgodin.typepad)
  • “Buy the Dip” Is Becoming a Pavlovian Reflex (Becoming?) (blogs.wsj)
  • Ultimate Stock-Pickers: Top 10 High-Conviction Buys (morningstar)
  • The case for overweighting European stocks. (thereformedbroker)
  • What new graduates need to know before entering wealth management. (forbes)
  • Driverless cars inspire a new gold rush in California (ft)
  • A closer look at the evolution of the Apple ($AAPL) iPhone. (aboveavalon)
  • Tax Cuts Help the Economy, & the Policy Is Simple (realclear)
  • This story about Roger Moore meeting a fan is what you need right now to lift your spirits (b3ta)
  • Lower your fees. (danielsolin)
  • How can you go about simplifying your finances? (wallstreetphysician)
  • Platinum credit cards are about prestige as much as perks. (luskin.ucla.edu)
  • What’s the difference between a 401(k) and 403(b) plan? (thebillfold)
  •  The Pigs Who Keep Vegas Buffets Running (not what you think) (eater)
  • The Big Green Bang: how renewable energy became unstoppable (ft)
  • It’s not surprising Millennials are thrifty. (bloomberg)
  •  Why China Must Figure Out How to Feed the Whole World (bloomberg)
  • Social Security Fallacies (economist)
  • The advisory industry is having a hard time recruiting new employees. (investmentnews)
  • How your funded status should affect your asset allocation in retirement. (retirementresearcher)
  • Amazon’s First NYC Bookstore Sucks Joy Out of Books (qz)
  • There’s only two things to spend your money on. (forbes)
  • Current market breadth is not all that unusual historically. (bloomberg)
  •  Roger Moore’s James Bond movies had the toughest women (qz)
  • Man cannot live on passive alone. (seeitmarket)
  • How to combat confirmation bias. (farnamstreetblog)
  • The Return Of Recessionary Conditions (blogspot)
  • There are bots. Look around. (ribbonfarm)
  • 3 Ways to Lose All of Your Money in the Stock Market (fool)
  • Older Americans Are More Pessimistic About Retirement (usatoday)
  • The Saudi-led OPEC Oil Blunder That Will Keep Costing (bloomberg)
  • Detroit & Puerto Rico: Which Is the Worse Insolvency? (realclearmarkets)
  • New Home Sales: Reality Falls Between March, April Headlines (realclear)
  • The Chemical Activity Barometer increased in May. (calculatedriskblog)
  • Job Security? It Is Disappearing — Here’s What It Means For You (forbes)
  • 5 Cities Where You Can Make a Living and Save Money (marketwatch)
  • With China v. the United States, Spot the Capitalist (realclearmarkets)
  • Obstruction of Justice, and What This Could Mean for the Markets (cumber)
  • It Is Smart Business Sense for NFL Teams to Avoid Kaepernick (arcdigital)
  • China and Russia Are Coming for Boeing and Airbus (cnn)
  • 5 reasons to NOT retire early. (whitecoatinvestor)
  • Dodd-Frank Left a Lot to Regulators’ Discretion: Why It Matters (americanbanker)
  • Why many Millennials aren’t worked up about working full-time. (financialsamurai)
  • Why Stanford MBAs Generally Earn the Most Money (bloomberg)
  • Monish Pabrai on the mistake of selling Ferrari ($RACE) too soon. (valuewalk)
  • The active-passive debate is really all about fees. (mebfaber)
  • Only a handful of standalone robo-advisors will survive. (businessinsider)
  • High Tax Causes Population Drop in Parts of Europe (washingtontimes)
  • Vanguard’s Irritating Perch on the Moral High Ground (bloomberg)
  • How Michael Kitces built his empire by giving away content. (kitces)
  • Hey, CA, Ready to Spend $400B for Your Single-Payer Disaster? (investors)
  • In praise of simplifying your portfolio, especially fee-wise, in retirement. (danielsolin)
  • Sound Priorities, Unsound Budget: Congress Should Keep the Good (nationalreview)
  • Why do employers kick people out of their [401(k)] plans in this way? (nytimes)
  • “I knew they were sugar pills, but I felt fantastic”: the rise of open-label placebos (theguardian)
  • Some key ESG (growth) trends. (blog.williamblairfunds)
  • Government Has Done Nothing Good for Bitcoin (fee)

05/23/17 – Tuesday’s Interest-ing Reads

  • On the comparative advantage "giant" funds have over their competition. (institutionalinvestor)
  • Google Is Building the Future, and New York Times Is Depressed (realclearmarkets)
  • Netflix ($NFLX) has been public for 15 years. Congrats if you held the entire time. (theirrelevantinvestor)
  • An Optimistic View of the Relative Calm In the Markets (bloomberg)
  • Can Meadows Rescue the Planet from CO2? (Scientific American)
  • Ten high conviction stock purchases from the ultimate stock pickers. (beta.morningstar)
  • The Homeric Odyssey of the Web’s Strangest “Simpsons” Site (wired)
  • Why you don’t want your company’s CEO to be too good a golfer. (cnbc)
  • Uber Starts Charging What It Thinks You’re Willing to Pay (bloomberg)
  • Watergate And The Stock Market: A Brief Review for Investors (forbes)
  • Being Wrong About Markets In An Interesting Way (hussmanfunds)
Read the rest
  • On the comparative advantage "giant" funds have over their competition. (institutionalinvestor)
  • Google Is Building the Future, and New York Times Is Depressed (realclearmarkets)
  • Netflix ($NFLX) has been public for 15 years. Congrats if you held the entire time. (theirrelevantinvestor)
  • An Optimistic View of the Relative Calm In the Markets (bloomberg)
  • Can Meadows Rescue the Planet from CO2? (Scientific American)
  • Ten high conviction stock purchases from the ultimate stock pickers. (beta.morningstar)
  • The Homeric Odyssey of the Web’s Strangest “Simpsons” Site (wired)
  • Why you don’t want your company’s CEO to be too good a golfer. (cnbc)
  • Uber Starts Charging What It Thinks You’re Willing to Pay (bloomberg)
  • Watergate And The Stock Market: A Brief Review for Investors (forbes)
  • Being Wrong About Markets In An Interesting Way (hussmanfunds)
  • Be careful when following a big name into a trade. (martinkronicle)
  • Can we improve sector rotation? (blog.thinknewfound)
  • WorldQuant University is offering students a tuition-free two-year education in financial engineering. (businessinsider)
  • Hitting the Brakes In America: The U.S. Car Market Has Stalled (economist)
  • Why Won’t More Corporations Support Single-Payer Health Care? (thenation)
  • Emerging Markets Still Look Strong (barrons)
  • Understanding Today’s Secular Stagnation (project-syndicate)
  • How Companies Fib About Earnings to Meet Estimates (nypost)
  •  OK, it's still not aliens, but we’re finally catching Tabby’s Star in the act (blastr)
  •  How Roger Ailes Polarized TV News (fivethirtyeight)
  • America Is Great. Home Country Bias Ain’t. (gmo)
  • http://www.ussif.org/esg (ussif)
  • The CME Group ($CME) is cleaning up on interest rate speculation. (wsj)
  • Climate Shareholder Proposal Passes At Occidental Petroleum (FA-MAG)
  • Marc Andreessen Answers the Tech Valuation Question (Bloomberg View)
  • Five great personal finance blogs. (humbledollar)
  • The flaw with the Fundamental Law of Active Management. (investresolve)
  • 21 Questions & Answers with Influential Trendspotter Pippa Malmgren (hedgeye)
  • Tips for individual investors who want to examine the academic finance literature. (aaii)
  • Has Real Socialism Ever Been Tried? (fee)
  • Information intensity doesn’t correlate with better performance. (citywireusa)
  • How active share works. (cfapubs)
  • Why culture matters more than regulations (thereformedbroker)
  • Fox News has gone completely off the deep end (CNN)
  • Blackstone ($BLK) has become a huge player in the non-traded REIT space. (wsj)
  • Which Countries Destroy the Environment the Most (and Least)? (Price Economics)
  • Five Market Charts That Matter (ft)
  • What an ideal active investment management firm looks like. (blogs.cfainstitute)
  • Fidelity is experimenting with Bitcoin. (wsj)
  • United’s Re-Accommodation Could Have Been Easily Avoided (realclearmarkets)
  • How to apply return factors to the corporate bond market. (cfapubs)
  • More evidence that companies cater to investors who favor dividends. (blog.alphaarchitect)
  • Why An MBA Designation Is Not All That It Should Be (bloomberg)
  • Which factors pass the test? (etf)
  • Virtue is its Own Reward: Or, One Man’s Ceiling is Another Man’s Floor (Cliff Asness / AQR)
  • Haven’t Saved Enough for Retirement? You’re Not Alone (cnbc)
  • What a real world trading algorithm looks like. (wsj)
  • Immigration Is at the Heart of U.S. Competitiveness (hbr)
  • Seattle Climbs, Austin Sprawls: Myth About the Return to Cities (nytimes)
  • Americans’ Financial Anxieties Ease in 2017 (gallup)
  • What to do in light of lower future stock returns. (ofdollarsanddata)
  • Capitalism is synonymous with optimism. (pragcap)
  • Who’s in Charge of Outer Space? (wsj)
  • ‘The Worse, the Better’ Could Be Connecticut’s Motto (nysun)
  • How to go from liberal arts major to investment professional. (cleareyesinvesting)
  • "The nation’s largest pension fund had no idea how much it was paying in certain private-equity fees." (wsj)
  •  Swedroe: Forecasters Not Held Accountable (etf)
  • Political Turmoil Won’t Affect May Employment Numbers (economics21)
  • Why TAA strategies sell. (sellwoodconsulting)
  • Reducing the Equity Allocation, Raising It for REITs (alhambrapartners)
  • Fees Add Up Quickly (baselinescenario)
  • The Bitcoin ETF isn’t dead. (etf)
  • Non-Financial Wants and the Rise of ESG Investing (Abnormal Returns)
  • The top ten books you should read to learn about investing. (mebfaber)
  • The New Retirement Goal: Love You Job and Keep Working (usatoday)
  • Shale Is a Scapegoat for Weaker Oil Prices. Real Culprit? China (bloomberg)
  • Unemployment in the U.S. Is Falling, So Why Isn’t Pay Rising? (bloomberg)
  • ‘Fiduciary’ Rule to Take Effect June 9 With No Further Delay, Labor Secretary Says (Wall Street Journal)
  • Bitcoin Flying As ETF Gets Second Shot (ETF.com)
  • Europe was the birthplace of mankind, not Africa, scientists find (Telegraph)

05/22/17 – Monday’s Interest-ing Reads

  • Quants have doubled their share of stock trading since 2013. (wsj)
  • The problem with productivity: it’s tough to measure. (bloomberg)
  • America’s Cities Are Rapidly Running Out of Room (bloomberg)
  • SoftBank’s Son Chases Boyhood Dreams With $100 Billion Fund (Bloomberg Technology)
  • Why it is important to understand your ESG fund’s investment policies and tactics. (advisorperspectives)
  • Predictions – A Fool’s Errand (investingcaffeine)
  • This Is How Your Finances Should Look In Your 40s (marketwatch)
  • Beware Shorting Impeachments (macromon.wordpress)
  • Speculative Frenzy: Tech Stocks Haven’t Done This Since Dot-Com Bubble (cnbc)
  • The Chicago Fed National Activity Index rose in April. (calculatedriskblog)
  • Validea.com: Factor-based models using the strategies of Lynch, Buffett, Graham and other Legendary Investors. Exclusive discount offer for Abnormal Returns readers. (validea)
  • Goldman: Driverless cars will mean 300k job
Read the rest
  • Quants have doubled their share of stock trading since 2013. (wsj)
  • The problem with productivity: it’s tough to measure. (bloomberg)
  • America’s Cities Are Rapidly Running Out of Room (bloomberg)
  • SoftBank’s Son Chases Boyhood Dreams With $100 Billion Fund (Bloomberg Technology)
  • Why it is important to understand your ESG fund’s investment policies and tactics. (advisorperspectives)
  • Predictions – A Fool’s Errand (investingcaffeine)
  • This Is How Your Finances Should Look In Your 40s (marketwatch)
  • Beware Shorting Impeachments (macromon.wordpress)
  • Speculative Frenzy: Tech Stocks Haven’t Done This Since Dot-Com Bubble (cnbc)
  • The Chicago Fed National Activity Index rose in April. (calculatedriskblog)
  • Validea.com: Factor-based models using the strategies of Lynch, Buffett, Graham and other Legendary Investors. Exclusive discount offer for Abnormal Returns readers. (validea)
  • Goldman: Driverless cars will mean 300k job losses a year, but… (ValueWalk)
  • This Church Has Better Money Managers Than Harvard (cnn)
  • Pittsburgh is not happy with Uber’s driverless car efforts in town (New York Times)
  • The Slow Death of Summer Fridays and Stressed Out Workers (marketwatch)
  • Commodity Traders Have a Really Big Problem (Bloomberg Markets)
  • The Price of Gold Doesn’t Change, Things Change In Terms of Gold (realclear)
  • Calculate your fund fees in dollars not percentages. You may be surprised how much you are paying. (brooklyninvestor.blogspot)
  • US shale oil output is near a record. (sl-advisors)
  • Serial Killers Should Fear This Algorithm: Thomas Hargrove is building software to identify trends in unsolved murders using data nobody’s bothered with before.&#xA0 (bloomberg)
  • Apple ($AAPL) Airpods are the perfect meditation app accessory. (theverge)
  • What CEOs had to say about the economy last week. (avondaleam)
  • Here Are the Five Books On My 2017 Summer Reading List (gatesnotes)
  • On the rise of the "superstar firm." (papers.ssrn)
  • For Stocks It’s a Battle of Bearish Politics Versus Bullish Liquidity (marketwatch)
  • Utah has a worker shortage (!) holding its economy back (New York Times)
  • A Good Sign the Stock Market Rally Has a Long Way to Go (businessinsider)
  • Your team is brainstorming all wrong. (hbr)
  • "The Internet Is Broken": @ev Is Trying to Salvage It (nytimes)
  • Millennials are shunning diamonds. (ft)
  • Individual investor knowledge of ETFs is quickly ramping up. (etf)
  • If you want people to listen: say one thing at a time. (sethgodin.typepad)
  • Revealed: Facebook’s internal rulebook on sex, terrorism and violence (Guardian)
  • 15 Forecasts for Future of Work for People Over 50 (forbes)
  • Venezuela’s An Impoverished Human Rights Disaster (washingtontimes)
  • Not EVERY retailer is getting crushed by Amazon ($AMZN). (barrons)
  • Why Are CEOs Being Paid Tons of Money for Nothing? (nypost)
  • Billionaires don’t use quadruple leveraged ETFs. (tonyisola)
  • The overwhelming majority of Apple ($AAPL) iPhone buyers plan to buy another iPhone. (loopinsight)
  • Lost In All the D.C. Noise Is an Economy That’s Looking Better (realclear)
  • US Business Cycle Risk Report (capitalspectator)
  • Goldilocks Is in the House: Synchronized global growth is driving the markets, but big problems still loom. (barrons)
  • Handful of Stocks Boosting Hedge Fund Returns, It’s Not Enough (yahoo)
  • Fired: CEO Ejection Hardly Gets Embattled Ford Back In the Race (reuters)
  • A succinct summary of the week’s economic events. (ritholtz)
  • If Every Day Is a Rainy Day, What Am I Saving For? (nytimes)
  • Compassion Is Good, But Never, Ever, Pity The American Male (forbes)
  • Sell in May..or Settle In? (schwab)
  • Ford fires its CEO, promotes innovation guy (New York Times)
  • "113 companies in the Standard & Poor’s 500-stock index make at least 50 percent of their sales outside the United States." (nytimes)
  • Old Ways of Measuring Output Are No Longer Sufficient (the-american-interest)
  • Thanks to Genetic Testing, Everyone Could Soon Have a Pre-Existing Condition (slate)
  • Oil & Climate Alarmism Don’t Mix For Shareholders (investors)
  • The universe just threw a monkey wrench into Ben’s plans (A Wealth Of Common Sense)
  • Paul Tudor Jones has invested in two quantitative hedge funds. (ft)
  • Commodity ETFs are going K-1 free. (etf)
  • In the Stock Market, ‘America First’ Companies Underperform (nytimes)
  • Shiller: How Tales of "Flippers" Led to a Housing Bubble (nytimes)
  • This bull market might not be hated, but it still isn’t trusted (cnbc)
  • How the media affects demand for stocks. (theirrelevantinvestor)
  • The news isn’t that the Fed will hike rates, but the second and third-order effects. (dashofinsight)
  • Managers are filling up their target date funds with smart beta ETFs. (etf)
  • The economic schedule for the coming week. (calculatedriskblog)
  • Etsy ($ETSY) needs to get bigger but the question is how? (bloomberg)
  • Why don’t we hold pundits accountable for their incorrect forecasts? (etf)
  • San Francisco real estate is wicked rich. (chenmarkcapital)
  • High Ground Is Becoming Hot Property as Sea Level Rises (scientificamerican)
  • The largest one-day ETF declines in history. (pensionpartners)
  • This is some great advice for graduates. (l2inc)
  • Foreign bonds had a good week on the back of a falling US dollar. (capitalspectator)
  • Mark Mobius has a theory about low market volatility: Fake news is causing it (ValueWalk)
  • Waiting for the market to crash is a terrible strategy. (svrn.co)
  • A Q&A with the managers of the newly launched Alpha Architect Value Trend Momentum ETF ($VMOT). (awealthofcommonsense)
  • Why you shouldn’t limit your portfolio to index funds. (stockcharts)
  • The case for using a rules-based system is strong. (nasdaq)
  • Toward a New Bretton Woods Agreement (americanaffairsjournal)
  • How a trade is like a first date. (traderfeed.blogspot)
  • Investors are once again snapping up ABS backed by peer-to-peer loans. (wsj)
  • Japan, Housing Starts & Productivity (ft)
  • Allan Roth has a couple of beefs with Warren Buffett’s advice. (etf)
  • Ten insights from the Berkshire Hathaway ($BRKA) weekend. (behavioralvalueinvestor)
  • New media jobs are geographically concentrated in a few states. (bloomberg)
  • Why Sears’ CEO Eddie Lampert Needs A Big Reality Check (forbes)

05/19/17 – Friday’s Interest-ing Reads

  • Why value investors are struggling: mean reversion is lacking reversion. (beta.morningstar)
  • Big Trouble In Little China (blogspot)
  • Dear Walmart, Here’s Why You Will Never Beat Amazon (forbes)
  • Monetary Policy That Is Strangely Devoid of Money (realclearmarkets)
  • Embrace the Suck, Without Which There’s No Effect on the World (aqr)
  • The results of a one-week social media fast. (kottke)
  • Aswath Damodran authof of "Narratives and Numbers" gets the Talks at Google treatment. (valuewalk)
  • How Roger Ailes Built the Fox News Empire, and Changed TV News Forever (thedailybeast)
  • Seeing Yet Another Debt Crisis That Isn’t Actually There (bloomberg)
  • "Sgt. Pepper" Turns 50 (wsj)
  • If you want a better web you are going to have to pay for it. (wired)
  • The Giddy Messages Citi Traders Sent While Lehman Died
Read the rest
  • Why value investors are struggling: mean reversion is lacking reversion. (beta.morningstar)
  • Big Trouble In Little China (blogspot)
  • Dear Walmart, Here’s Why You Will Never Beat Amazon (forbes)
  • Monetary Policy That Is Strangely Devoid of Money (realclearmarkets)
  • Embrace the Suck, Without Which There’s No Effect on the World (aqr)
  • The results of a one-week social media fast. (kottke)
  • Aswath Damodran authof of "Narratives and Numbers" gets the Talks at Google treatment. (valuewalk)
  • How Roger Ailes Built the Fox News Empire, and Changed TV News Forever (thedailybeast)
  • Seeing Yet Another Debt Crisis That Isn’t Actually There (bloomberg)
  • "Sgt. Pepper" Turns 50 (wsj)
  • If you want a better web you are going to have to pay for it. (wired)
  • The Giddy Messages Citi Traders Sent While Lehman Died (bloomberg)
  • The Washington Post has made great headway on the digital advertising front. (nytimes)
  • Brett McKay talks with Emrys Westacott, philosophy professor and author of "The Wisdom of Frugality." (artofmanliness)
  • When On His Game, Roger Ailes Had Few – If Any – Peers (nysun)
  • Congrats America! You’re the Fattest Country In the World (marketwatch)
  • The case against share buybacks. (dealbreaker)
  • Home owner equity is nearing all-time highs. (marginalrevolution)
  • The 10 best podcasts of 2017 (so far). (esquire)
  • Don’t Fear Robots: Technophobia Is Path to Stagnation (nationalreview)
  • Meb Faber talks with Jason Hsu about China, value and factor investing. (mebfaber)
  • How Tales Of Flippers Led To A Housing Bubble (nytimes)
  • Active managers are having to try out new compensation models including fulcrum fees. (thereformedbroker)
  • Inside Russia’s Social Media War on America (time)
  • The Housing Moment Investors Dread Has Arrived (bloomberg)
  • 5 Facts Prove Americans Know Nothing on Managing Money (moneyish)
  • Has Apple lost its simplicity? (kensegall)
  • Wealthy Connecticut Tapped Out on Taxing the Rich? (marketwatch)
  • One in Four U.S. Workers Say Technology Will Eliminate Job (gallup)
  • Jordan Harbinger talks with Neil DeGrasse Tyson author of "Astrophysics for People in a Hurry." (theartofcharm)
  • Michael Covel talks with Andy Molinksy author of "Reach: A New Strategy to Help You Step Outside Your Comfort Zone." (trendfollowingradio)
  • Ted Seides talks with Jenny Heller CIO of Brandywine Trust Group. (capitalallocatorspodcast)
  • The Retirement Moves You Should Make in Your 40s (usatoday)
  • There’s No Model For This (capitalspectator)
  • A talk with Ben Carlson about his book "A Wealth of Common Sense." (planetmicrocap.podbean)
  • Patrick O’Shaughnessy talks with Michael Mauboussin about active vs. passive, base rates and more. (investorfieldguide)
  • Do investors really understand the return profile of leveraged ETFs? (blogs.wsj)
  • Tax Reform: It’s Business Versus the Middle Class (cnn)
  • Death by Amazon (yardeni)
  • It’s Time to Contemplate Mike Pence-Onomics (reuters)
  • Why Predictions of a ‘Retail Apocalypse’ Are Overblown (cnbc)
  • Stephen Dubner talks with Steve Ballmer about the NBA and USA Inc. (freakonomics)
  • Record Household Debt Not Cause for Celebration or Concern (realclear)
  • Jon Stein CEO of Betterment talks about the role of robo-advisors as an innovative technology. (knowledge.wharton.upenn.edu)
  • Emerging market stocks are still cheap relative to US stocks. (advisorperspectives)
  • Moving Beyond Economy-Sapping 1970s Environmentalism (realclearmarkets)
  • The Eurozone Economies Lead Global Momentum Trends (cumber)
  • The Critical Role of Failure in Success (corporatewiseman)
  • Where We See Opportunities in Munis (pimco)
  • Taibbi: Roger Ailes Was One of the Worst Americans Ever (rollingstone)
  • Riding Shotgun With Uber CEO Travis Kalanick (fortune)
  • The Next Mobile Phone Revolution Is Coming (bloomberg)
  • Why We Lie: The Science Behind Our Deceptive Ways (nationalgeographic)
  • A Brave New World for Sovereign Wealth Funds (institutionalinvestor)
  • The Market Is Quiet. Too Quiet? (economist)
  • Ailes Endured Hatred and Truth, and It Ultimately Killed Him (usatoday)
  • Jon Corzine is starting a hedge fund. (ftalphaville.ft)
  • The LeBron James School Of Driving (fivethirtyeight)
  • A Century Later, Mises Is Still Being Validated (fee)
  • Don’t think you are too savvy to get phished. (gimletmedia)
  • American Shale Roars Back at the OPEC Cartel (bloomberg)

05/18/17 – Thursday’s Interest-ing Reads

  • The Handmaid’s Tale Is a Collectivist Dystopia (fee)
  • Big companies that make minority investments in startups are going to have to account for their investments on a more frequent basis. (nytimes)
  • Jerry Brown Plays the ‘Frugal Adult’ While Secretly Spending (realclearmarkets)
  • Life Expectancy: Another Way the Rich Get Richer (latimes)
  • Companies Steal $15 Billion From Their Employees Every Year (fastcompany)
  • China’s Demographic Time Bomb Continues to Tick (bloomberg)
  • IBM ($IBM) is re-officing remote workers. (wsj)
  • As Immigrants Flow Into Germany, Better Job Opportunities for All (movinga)
  • How the Apple ($AAPL) iPhone conquered business. (ft)
  • Japan’s economy seems to be gaining some momentum. (ft)
  • Americans have swapped mortgage debt for student and auto debt. (ritholtz)
  • DeVos Wants to Kill a Major Loan Forgiveness Program (slate)
  • Facing
Read the rest
  • The Handmaid’s Tale Is a Collectivist Dystopia (fee)
  • Big companies that make minority investments in startups are going to have to account for their investments on a more frequent basis. (nytimes)
  • Jerry Brown Plays the ‘Frugal Adult’ While Secretly Spending (realclearmarkets)
  • Life Expectancy: Another Way the Rich Get Richer (latimes)
  • Companies Steal $15 Billion From Their Employees Every Year (fastcompany)
  • China’s Demographic Time Bomb Continues to Tick (bloomberg)
  • IBM ($IBM) is re-officing remote workers. (wsj)
  • As Immigrants Flow Into Germany, Better Job Opportunities for All (movinga)
  • How the Apple ($AAPL) iPhone conquered business. (ft)
  • Japan’s economy seems to be gaining some momentum. (ft)
  • Americans have swapped mortgage debt for student and auto debt. (ritholtz)
  • DeVos Wants to Kill a Major Loan Forgiveness Program (slate)
  • Facing a Severe Housing Shortage, California Loosens Up (bloomberg)
  • Justin Trudeau Is the Biggest Non-War Spending PM Yet (realclear)
  • How Can I Save for Retirement If I Don’t Have a 401(k)? (cnn)
  • Washington Turmoil Creates Uncertainty for Investors (commonwealth)
  • Young investors should be cheering a market correction. (thereformedbroker)
  •  This 150-foot-tall "vending machine" will serve you a Ferrari (money.cnn)
  • 3 Reasons North Korea Is a Bigger Threat Than Month Ago (thefiscaltimes)
  • Worst Ahead for Stocks? Why Some Say the Drop ‘Has Legs’ (cnbc)
  • American Gods (thereformedbroker)
  • Crossing the Congo Is a Journey Across Hell on Earth (realclearmarkets)
  • America’s Cars Are All Fast and Furious: These days half of today’s vehicles blow away the baddest rides of the 1970s (bloomberg)
  • China’s capital controls are making for strange bedfellows. (bloomberg)
  • Why the Federal Reserve Is Wrong to Obsess About Wages (marketwatch)
  • Why does it feel like every time stocks falls a little, they’re going to fall a lot? (theirrelevantinvestor)
  • Why many VC valuations are way too high. (papers.ssrn)
  • How One Little Cable Company Exposed Telecom’s Achilles’ Heel (backchannel)
  • Texas Taxpayers Have Become Captives of Their Civil Servants (city-journal)
  • Reality Sucks (themoneyillusion)
  • "[Naval] Ravikant sees AngelList serving as the minor leagues for a new generation of venture capitalists from the startup world." (qz)
  • ‘Baumol’s Disease’ Is What Policymakers Should Be Considering (nationalreview)
  • Are you drowning under breaking news notifications? (nytimes)
  • Video doorbells, like Ring, are a booming business. (latimes)
  • The ‘Orange Swan’ Looms Ever Closer: Sell Stocks, Buy Gold (realclearmarkets)
  • The Revolt of the California ‘Freeloaders’ (spectator)
  • An app to help seniors (50+) capture all the discounts businesses offer. (nytimes)
  • A New High! In Household Debt… (247wallst)
  • The US stock market is shrinking. Look overseas. (awealthofcommonsense)
  • Why Isn’t Automation Eating Jobs? (blogs.wsj)
  • The YayYo mini-IPO is a hot mess. (businessinsider)
  • Inflation Isn’t Cooperating With ‘Can’t Catch a Break’ Federal Reserve (bloomberg)
  • Google ($GOOGL) may be kind of boring but it is making headway. (stratechery)
  • How ‘Predatory Lending’ Traps Naive American Borrowers (thenation)
  • Q1 Earnings Season Has Been Excellent By Any Measure (realclear)
  • Hedge fund manager earnings drop to lowest in a decade (ft)
  • Confused China Financial Market Strategy Reveals Old Flaws (reuters)
  • 5 things learned in one year as a VC. (associate.vc)
  • Tomasz Tunguz, "At this point [Series B], the business is too far evolved to simply sell the dream, but not far enough along to raise on the metrics." (tomtunguz)
  • Industrial real estate is a beneficiary of the retail industry meltdown. (businessinsider)
  • Make sure your lawyer understands venture capital. (pointsandfigures)
  • Mediocre Hedge Fund Managers Making Billions (nytimes)
  • An Epic Trading Tale From Norway (themacrotourist)
  • Massive social networks are done. Startups need to focus on niches. (500ish)
  • The Running of the Bulls’ (Mouths) (hedgeye)
  • Brokers are increasingly getting paid on the honor system. (bloomberg)
  • WeFunder leads the equity crowdfunding race one year in. (venturebeat)

05/17/17 – Wednesday’s Interest-ing Reads

  • What happens when volatility rises. (pensionpartners)
  • With Tax Reform, Save Forest Rather Than Cut Down Trees (realclearmarkets)
  • Sen. Warren Concocts Another Way to Make Life More Expensive (spectator)
  • Smooth transitions at hedge funds are few and far between. ValueAct is giving it a shot however. (nytimes)
  • Warren Buffett’s notion of what an ‘ideal business’ looks like has changed. (intrinsicinvesting)
  • The Active Equity Renaissance: New Frontiers of Risk (blogs.cfainstitute)
  • The investment industry is horribly overcompensated. (humbledollar)
  • It’s the Summer of Rum — and we need it!&#xA0 (bloomberg)
  • High yield bonds break out (Stockcharts.com)
  • “Brandy” Songwriter on How “Guardians of the Galaxy 2” Finally Gave His Hit a Deeper Meaning (hollywoodreporter)
  • Daniel Grioli, "Genuine active management is A LOT more capacity constrained that most investors realise." (i3-invest)
  • RIAs
Read the rest
  • What happens when volatility rises. (pensionpartners)
  • With Tax Reform, Save Forest Rather Than Cut Down Trees (realclearmarkets)
  • Sen. Warren Concocts Another Way to Make Life More Expensive (spectator)
  • Smooth transitions at hedge funds are few and far between. ValueAct is giving it a shot however. (nytimes)
  • Warren Buffett’s notion of what an ‘ideal business’ looks like has changed. (intrinsicinvesting)
  • The Active Equity Renaissance: New Frontiers of Risk (blogs.cfainstitute)
  • The investment industry is horribly overcompensated. (humbledollar)
  • It’s the Summer of Rum — and we need it!&#xA0 (bloomberg)
  • High yield bonds break out (Stockcharts.com)
  • “Brandy” Songwriter on How “Guardians of the Galaxy 2” Finally Gave His Hit a Deeper Meaning (hollywoodreporter)
  • Daniel Grioli, "Genuine active management is A LOT more capacity constrained that most investors realise." (i3-invest)
  • RIAs today utilize a raft of tools, but only a few can truly be platforms. (kitces)
  • Will You Earn More Working In Private Sector, or Government? (fee)
  • Single Family Grinds Higher, Multiple Family Slowly Fades (realclear)
  • Good luck trying to call the next recession with just a single variable. (capitalspectator)
  • Signs Point To US Equity Underperformance (knowledgeleaderscapital)
  • It Still Makes Sense To Be Optimistic (blogspot)
  • Here’s What the Stock Market Did During Watergate (yahoo)
  • How managed futures strategies perform in different volatility regimes. (mrzepczynski.blogspot)
  • Do we really want future AI in the hands of the "Frightful Five"? (nytimes)
  • A June Fed rate hike is baked in. The question is how much slack the US economy still has. (economistsview.typepad)
  • The Fed Is Making a $2 Trillion Mistake (bloomberg)
  • There’s Good Airline News that You’re Not Hearing About (usatoday)
  • For Investors, the President Is Twitter Troll-in-Chief (bloomberg)
  • Quick fixes rarely work in personal finance. (mullooly)
  • Transparency is a (great) feature of markets. (pointsandfigures)
  • The hedge fund of funds business is….still dying. (valuewalk)
  • Some big changes are coming to MSCI’s Frontier Market index. (etf)
  • US household debt is back to 2007 levels but delinquencies are way lower. (latimes)
  • SoFi is getting into wealth management. (techcrunch)
  • White House on edge: ‘We are kind of helpless’ (Politico)
  • Amazon ($AMZN) is considering getting into the pharmacy business. (cnbc)
  • The SEC is reconsidering its approval of 4x leveraged ETFs. (wsj)
  • There is a (big) bull market in altcoins. (wsj)
  • New Analysis Turns Up Surprise on Long-Term Wage Trends (realclearmarkets)
  • Seth Godin, "You can’t shrink your way to greatness." (sethgodin.typepad)
  • Financial advisors are increasingly conscious of their clients, clothing-wise. (wsj)
  • You can read too much as an investor if all it does is reinforce your prior beliefs. (thereformedbroker)
  • What can we do to inspire the renaissance in active equity portfolio management? (Enterprising Investor)
  • History Suggests That Investors Should Be Way More Fearful (marketwatch)
  • How AI is changing insurance underwriting. (ft)
  • These Elevated Stock Prices May Be Here to Stay (marketwatch)
  • Clear Proof That Central Banks Are ‘On The Bid’ In Stocks (forbes)
  • The Presidency Is in Crisis. Why Are the Markets Still So Calm? (slate)
  • Justin Fox, "The investment industry keeps coming up with new products that more perfectly match customer needs, but it also invariably overdoes it. Which I guess is what most industries do, but in investing, there is a weird cyclicality to it." (bloomberg)
  • A Healthy U.S. Consumer (realclear)
  • This might be the smoking gun (New York Times)
  • There’s a Big Technical Reason for Low Volatility in Stocks (Bloomberg)
  • Tech CEOs: Anarcho-Libertarian Threat to Democracy? (nationalreview)
  • Why you should simplify your financial holdings. (humbledollar)
  • What My Young Sons Taught Me About True Happiness (fortune)
  • ESPN Is Betting on Big Personalities (nytimes)
  • This Is One Big Retailer Which Isn’t Getting Amazon-ed (cnn)
  • Time to Drop the Title ‘Thought Leader’ From Your Resume (forbes)
  • Why Emerging Market Stocks Aren’t All the Same (schwab)
  • The Weird Thing About Today’s Internet (theatlantic)
  • Addressing the Fed’s Balance Sheet, Bonds, and Fishing (cumber)
  • Here’s Why Elon Musk Holds the Secret to Productivity Gains (thefiscaltimes)
  • Market breadth is not confirming the index highs…yet (All Star Charts)
  • This is a great example of second-order thinking. (themacrotourist)
  • The Expectation of Losses (A Wealth Of Common Sense)
  • It’s Time to Enact Common Sense Financial Reform (usatoday)

05/16/17 – Tuesday’s Interest-ing Reads

  • Pay was down in 2016 for the top hedge fund managers. (nytimes)
  • The Higher and Higher Cost of Higher Ed (weeklystandard)
  • It’s hard to grasp the strength of Amazon’s ($AMZN) moat. (techcrunch)
  • Hidden Debt, and Hidden Deficits: 2017 Edition (hoover)
  • Dear Mr. President, Stock Market Doesn’t Know What to Expect (usnews)
  • Industrial production jumped 1.0% in April. (calculatedriskblog)
  • Rupert Murdoch’s Managment Disaster at Fox (nymag)
  • Portfolio construction is not about building the optimal portfolio. (pragcap)
  • Creatives don’t wait for inspiration to strike. (nytimes)
  • In an uber-connected economy there is no reason to be stingy with "goodwill and encouragement." (sethgodin.typepad)
  • The Vix Article Nobody Will Like (themacrotourist)
  • Wall Street Wants to Turn Back the Clock to the Year 2007 (usatoday)
  • The New York Times’ Tax Coverage
Read the rest
  • Pay was down in 2016 for the top hedge fund managers. (nytimes)
  • The Higher and Higher Cost of Higher Ed (weeklystandard)
  • It’s hard to grasp the strength of Amazon’s ($AMZN) moat. (techcrunch)
  • Hidden Debt, and Hidden Deficits: 2017 Edition (hoover)
  • Dear Mr. President, Stock Market Doesn’t Know What to Expect (usnews)
  • Industrial production jumped 1.0% in April. (calculatedriskblog)
  • Rupert Murdoch’s Managment Disaster at Fox (nymag)
  • Portfolio construction is not about building the optimal portfolio. (pragcap)
  • Creatives don’t wait for inspiration to strike. (nytimes)
  • In an uber-connected economy there is no reason to be stingy with "goodwill and encouragement." (sethgodin.typepad)
  • The Vix Article Nobody Will Like (themacrotourist)
  • Wall Street Wants to Turn Back the Clock to the Year 2007 (usatoday)
  • The New York Times’ Tax Coverage Is the Stuff of Fake News (nysun)
  • The Grand Economic Experiment In Europe Is Failing (washingtontimes)
  • Long Term Economic and Investment Themes, Part 2 (bloomberg)
  • CAPE Ratio, Why Hast Thou Forsaken Me? (mebfaber)
  • Orwellian Monetary Policy (wordpress)
  • Rich Retirees Are Hoarding Cash Out of Fear (bloomberg)
  • Much of life is beyond our control, but dining smartly can help us live healthier, longer (news.harvard.edu)
  • The Chinese Are Just Like Us: They Want Things (realclearmarkets)
  • UK investors can now invest directly in Vanguard funds. (monevator)
  • "WannaCry" ransomware attack shows why Apple refused to hack terrorist’s iPhone (latimes)
  • Unthinkable? Tuition-Free College Is Becoming a Reality (cnn)
  • Unity Was Emerging on Sentencing. Then Came Jeff Sessions. (nytimes)
  • Here’s How Much Tesla’s Solar Roof Will Really Cost You (forbes)
  • How to combine single factor strategies. (indexologyblog)
  • What Could Derail the Markets? Probably Nothing (yahoo)
  • Pitchfork Grows Up (bloomberg)
  • Why fund fees should be billed in dollars not percentages. (bloomberg)
  • "Brookfield ($BAM) is the size of KKR, Apollo, Carlyle Group and Colony Northstar combined." (forbes)
  • Why Stock-Market Investors Are Falling Back In Love w/Europe (marketwatch)
  • Paris Hilton Invented Everything You’re Doing in 2017, and She Knows It (wmagazine)
  • On the transformative power of boredom. (kottke)
  • Why Factor Tilts Are Not Smart ‘Smart Beta’ (researchaffiliates)
  • Taxes, and Warren Buffett’s Shareholder Sophistry (realclearmarkets)
  • The Apple ($AAPL) Watch is going to get additional functionality through its bands. (bgr)
  • Staying Stuck (alhambrapartners)
  • How Much $20/Week In Retirement Savings Can Mushroom Into (investors)
  •  The 5 Scariest Things About Jeff Sessions’s Drug Sentencing Memo (citylab)
  • The Other Side of the Federal Reserve’s Balance Sheet (bloomberg)
  • Golf, Drinking, Nepotism & Dumb Luck (theguardian)
  • Amazon’s epic 20-year run as a public company, explained in five charts (recode)
  • Coal and Natural Gas Are Foes, Not Natural Allies (realclearmarkets)
  • Bleeding: One Big Reason Why ESPN Is Losing Subscribers (economist)
  • 20 Years On, Amazon, Bezos Prove Naysayers Wrong (nytimes)
  • Why You Can’t Afford A House (It’s not the avocado toast) (latimes)
  • Optimism Warranted: Taking Eurozone Growth Seriously (project-syndicate)
  • Activist investors are no longer setting for board seats. (wsj)
  • A list of the 25 top paid hedge fund managers from 2016. (institutionalinvestorsalpha)
  • To Boost Small Business, First Free Up Banks That Serve Them (nytimes)
  • The merits and methods of multi-factor models. (us.spindices)
  • Why every portfolio should hold some risk-free assets. (ofdollarsanddata)
  • Do trading costs destroy factor investing? (blog.alphaarchitect)
  • Good luck sorting luck from skill. (etf)
  • These ‘Dividend Aristocrats’ Rack Double-Digit Sales Growth (marketwatch)
  • How Lonzo and LaVar Ball figured out how to get — and keep — our attention (espn)
  • When Investors Pay for High P/Es, They Pay Twice (hussmanfunds)
  • You can use return factors to enhance muni bond returns. (blog.thinknewfound)
  • Are mutual fund managers good at picking lottery stocks? (quantpedia)
  • Forget Puerto Rico, What About U.S. States’ Soaring Pension Debts? (investors)
  • An American Tax on Canada That Harms America and Canada (fee)
  • Companies manage news/earnings to minimize dilution from forthcoming warrant expirations. (papers.ssrn)
  • Tom Siebel on a Witless GE, And His Near Death in Africa (forbes)
  • Do established anomalies work in China? (blog.alphaarchitect)
  • Does Energy Represent an Opportunity, or a Trap? (schwab)

05/15/17 – Monday’s Interest-ing Reads

Read the rest
  • …Perhaps there are, Preet. (New York Times)
  • Weak hands are long the $VIX. (themacrotourist)
  • Emerging market stocks are at a two-year high. (capitalspectator)
  • Microsoft’s ($MSFT) cloud business is booming. (barrons)
  • Some explanations for why volatility is so low. (marginalrevolution)
  • The anatomy of a monster ETF trade. (etf)
  • Why bankers hate direct listings, a la Spotify. (felix.kinja)
  • Reckless stock trading leaves Congress rife with conflicts (Politico)
  • Plan, don’t predict. (peterlazaroff)
  • The Fallacy Of The Charitable Deduction (investors)
  • Mixed Messages From Federal Measure of Inflation (realclear)
  • Why software companies skimp on security measures. (stratechery)
  • Global Cyberattack: A Simple Explanation of What Happened (cnn)
  • Obamacare Taxes Proved Dangerous to Our Health (washingtontimes)
  • The problem of skewness. (humbledollar)
  • The US economy needs more technology in traditional industries. (wsj)
  • High Taxes, Regulations Prompt Americans to Leave States (thefiscaltimes)
  • Retail risks go too far in eliminating human salespeople. (latest.13d)
  • Direct listings are a rarity. (pehub)
  • The (Western) States Where Economy Isn’t Struggling to Recover (bloomberg)
  • "Look at the big picture while others are losing their minds." (A Teachable Moment)
  • Japan is answering their labor shortage with robots (Reuters)
  • Life Is Getting Ever More Volatile – Or Is It? (timharford)
  • 3 Growth Stocks for Ambitious Investors (fool)
  • What to make of this weekend’s massive global ransomware attack (Bloomberg)
  • Worst News for Economy May Be Coming from Banks, Not Retail (cnbc)
  • You’re Killing It With Your 401(k) — on Autopilot (bloomberg)
  • A graphic look at how the Big 5 tech giant make their money. (visualcapitalist)
  • Trying to put a valuation on Valeant Pharmaceuticals ($VRX). (brontecapital.blogspot)
  • Why investor don’t (and can’t) hold leveraged ETFs. (pensionpartners)
  • Social Mobility Remains Strong in Land of Opportunity (nationalreview)
  • The Snap ($SNAP) IPO has been a great teaching tool for Millennial investors. (awealthofcommonsense)
  • Sell In May, But Don’t Walk Away, Part Two (cumber)
  • Heightened Uncertainties, Yet Plunging Volatility…What Gives? (schwab)
  • Which of the Big 5 would you give up first (and last)? (nytimes)
  • 6 Long-Term Economic & Investment Theme Recommendations (bloomberg)
  • Comparing how the major multi-factor ETFs. (beta.morningstar)
  • What MG Siegler reads. (medium)
  • The Shame of the Mortgage-Interest Deduction (theatlantic)
  • Six principles for better decision making. (thewaiterspad)
  • Innovative techniques in 3-D printing mean some previously impossible design will start showing up in consumer products (Wall Street Journal)
  • The Man Who Helped Bury Lehman Turns to Saving Noble (bloomberg)
  • Cord cutting is putting the squeeze on tertiary cable channels. (wsj)
  • Is fidgeting making you smarter? (wired)
  • How many managers should you review before you pick one? (mrzepczynski.blogspot)
  • An economic schedule for the coming week. (calculatedriskblog)
  • Ray Dalio: The Big Picture (linkedin)
  • Hot Stocks Are Like Lottery Numbers: Very Low Odds (nytimes)
  • A Theory on Why Working Class Americans Voted wMiddle Finger (nypost)
  • Financially Stressed in U.S. Now Prefer Saving to Spending (gallup)
  • The New Retirement Goal: Love Your Job and Keep Working (cnbc)
  • Barron’s says buy European stocks. (barrons)
  • The most interesting ETF launches of the year. (etf)
  • Globalization’s Ill Effects Are Wildly Exaggerated (realclearmarkets)
  • Market Volatility & Recessions (capitalspectator)
  • 8 Can’t-Miss Dividend Increases Coming This Summer (forbes)
  • A succinct summary of the week’s economic events. (ritholtz)
  • In Exile: The Cruelly Sad & Solitary Life of Ruth Madoff (nypost)
  • Unusually Low Volatility Can Be Dangerous for Stocks (bloomberg)
  • The ten investing books SumZero users most recommend. (businessinsider)
  • The Amazon ($AMZN) Echo Show may not look like much but it is a wildly innovative product. (medium)
  • An Eerie Similarity to ’07, Before the Bulls Were Slaughtered (realclearmarkets)
  • Google’s self-driving car subsidiary gets closer with Lyft (New York Times)
  • Global ETP assets recently topped $4 trillion in AUM. (valuewalk)
  • What CEOs had to say about the global economy this week. (avondaleam)
  • Capitalists Are Destroying Capitalism. They Must Be Stopped (qz)
  • An Algorithm, an ETF and an Academic Study Walk Into a Bar (wsj)
  • The iShares Core MSCI Emerging Markets ETF ($IEMG) will soon be the largest EM ETF. (etf)
  • Interest in ESG investing is growing. (investwithanedge)
  • Study: Journalists’ Fear of Appearing Biased Benefits Special Interests (promarket)
  • The Big Picture (valuewalk)
  • The downside of sitting in cash is just too much. (portfoliocharts)
  • New homebuilders are really optimistic. (calculatedriskblog)
  • Maybe we should be looking at longer horizon measures of volatility. (pragcap)
  • Bruce Greenwald: Channeling Graham and Dodd (barrons)
  • Long Ago American Government Ran on Lotteries, Not Taxes (fee)
  • The existence of shale oil makes every other oil/gas project riskier. (sl-advisors)
  • Barron’s says buy emerging market stocks. (barrons)
  • Apple’s New Headquarters Is a Sign of Tech’s Boom, Bravado (Wall Street Journal)
  • Apple ($AAPL) may hit $1 trillion in market cap but it has got long-term issues. (wired)
  • The high yield bond market has changed for the worse (permanently). (ft)
  • A Setup Is In Place for a Pullback In the S&P 500 Index (marketwatch)
  • Active managers don’t outperform, on average, during bear markets. (wsj)