01/02/18 – Tuesday’s Interest-ing Reads

  • The immensity of the universe, and our place in it (syfy)
  • Older Americans keep snapping up Treasury bills, bonds and notes. (wsj)
  • Heather Gillers, "Over the next decade Wilshire Consulting is predicting a 6.25% compound return for U.S. equities and 3.5% return for core bonds. International equities have a projected compounded return of 6.45%. Most pensions’ return targets remain at 7% to 8%." (wsj)
  • Amazon ($AMZN) succeeds in large part by relying on third party sellers. (wsj)
  • The world is more complicated than its seems. (thewaiterspad)
  • How a Melting Arctic Changes Everything, Part III: The Economic Arctic (bloomberg)
  • Tax reform: 9 tax deductions are going away in 2018 (usatoday)
  •  How Climate Change Deniers Rise to the Top in Google Searches (nytimes)
  • How the major asset classes performed in December 2017. (capitalspectator)
  • Why don’t cities grow without limit? (marginalrevolution)
  • Stop subsidizing the lifestyles of ‘rich and famous’ mutual fund managers. (mutualfundobserver)
  • Private equity firms are leaning on loans to boost IRRs. (ft)
  • Some books to look forward to during 2018. (ft)
  • Seth Godin, "The best way to improve your marathon is to learn to sprint now and then." (sethgodin.typepad)
  • Blinkist is having a New Year’s sale. Save 42% off a Premium subscription. (jump.blinkist)
  • Why the Bund-UST spread should narrow in 2018. (themacrotourist)
  • This guy is the face of the bitcoin bubble (mashable)
  • Successful managers are often ‘one-offs.’ (mutualfundobserver)
  • On the difference between good diversification and bad diversification. (peterlazaroff)
  • Less Phone, More Nature: 34 Resolutions for a Better 2018 (blogs.wsj)
  • How ETFs are able to bypass capital gains season with in-kind redemptions. (insight.factset)
  • The ETF price war is putting pressure on fees throughout the industry. (ft)
  • It was hard to go wrong in 2017. (mrzepczynski.blogspot)
  • Ten investment-related reads from 2017 including "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" by Edward O. Thorp. (medium)
  • The best books Ben Carlson read in 2017. (awealthofcommonsense)
  • Falling unemployment is finally giving a boost to wages. (wsj)
  • The Biggest Technology Failures of 2017 (technologyreview)
  • Energy was a notable laggard in 2017. (crossingwallstreet)
  • On expected returns, pension fund just doesn’t work. (theirrelevantinvestor)
  •  How to Lean Against the Biases in 2018 (thinkadvisor)
  • ETF sector returns in 2017 were pretty wide. (macromon.files.wordpress)
  • Howard Lindzon, "(T)here is no such thing as information overload…just filter failure." (medium)
  •  California Pot: Smoke 'Em (or Eat 'Em) If You Can Get 'Em (bloomberg)
  • Legal Weed Isn’t The Boon Small Businesses Thought It Would Be (fivethirtyeight)
  • Eric Balchunas, "In five years, I believe you’ll be able to have a full portfolio of ETFs for only 1 or 2 basis points. That will be good for investors, but rough for the industry. You will also see stuff put into ETFs that you didn’t realize was stuff. Anything in Wall Street brain cells will be ETF-ized. Probably 19 will fail, but the one that wins will keep the system going." (wealthmanagement)
  • South Florida’s Real Estate Reckoning Could Be Closer Than You Think (bloomberg)
  • Vanguard starts the year with a new CEO. (beta.morningstar)
  • Timeless investment lessons of 2017 (marketwatch)
  • Ripple put Bitcoin to shame in 2017. (qz)
  • How factor performance played out in 2017 including a win for momentum. (factorresearch)
  • Democrats in High-Tax States Plot to Blunt Impact of New Tax Law (nytimes)
  • Why generating historical-like returns will only get more difficult in 2018. (mrzepczynski.blogspot)
  • Marijuana ETFs are going to go mainstream. (themaven)
  • Smart beta was big in 2017 but plain vanilla garnered the bulk of AUM. (beta.morningstar)
  • Why high-frequency trading firms are dropping out of the business. (ft)
  • Lumber prices are soaring. (calculatedriskblog)
  • The ‘who is Amazon going to buy in 2018’ rumors are ramping up. Sigh. (bloomberg)
  • ESG ETFs made progress in 2017. (etf)
  • Why criminals are switching to Monero. (bloomberg)
  • Scott Grannis, "If 2018 is going to be about just one thing, it will be whether boosting the after-tax rewards to business investment results in a stronger economy." (scottgrannis.blogspot)

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