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 ($AMZN) moat. (techcrunch)
  • Hidden Debt, and Hidden Deficits: 2017 Edition (hoover)
  • Dear Mr. President, Stock Market Doesn’t Know What to Expect (usnews)
  • Industrial production jumped 1.0% in April. (calculatedriskblog)
  • Rupert Murdoch’s Managment Disaster at Fox (nymag)
  • Portfolio construction is not about building the optimal portfolio. (pragcap)
  • Creatives don’t wait for inspiration to strike. (nytimes)
  • In an uber-connected economy there is no reason to be stingy with "goodwill and encouragement." (sethgodin.typepad)
  • The Vix Article Nobody Will Like (themacrotourist)
  • Wall Street Wants to Turn Back the Clock to the Year 2007 (usatoday)
  • The New York Times’ Tax Coverage Is the Stuff of Fake News (nysun)
  • The Grand Economic Experiment In Europe Is Failing (washingtontimes)
  • Long Term Economic and Investment Themes, Part 2 (bloomberg)
  • CAPE Ratio, Why Hast Thou Forsaken Me? (mebfaber)
  • Orwellian Monetary Policy (wordpress)
  • Rich Retirees Are Hoarding Cash Out of Fear (bloomberg)
  • Much of life is beyond our control, but dining smartly can help us live healthier, longer (news.harvard.edu)
  • The Chinese Are Just Like Us: They Want Things (realclearmarkets)
  • UK investors can now invest directly in Vanguard funds. (monevator)
  • "WannaCry" ransomware attack shows why Apple refused to hack terrorist’s iPhone (latimes)
  • Unthinkable? Tuition-Free College Is Becoming a Reality (cnn)
  • Unity Was Emerging on Sentencing. Then Came Jeff Sessions. (nytimes)
  • Here’s How Much Tesla’s Solar Roof Will Really Cost You (forbes)
  • How to combine single factor strategies. (indexologyblog)
  • What Could Derail the Markets? Probably Nothing (yahoo)
  • Pitchfork Grows Up (bloomberg)
  • Why fund fees should be billed in dollars not percentages. (bloomberg)
  • "Brookfield ($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)

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