07/21/17 – Friday’s Interest-ing Reads

  • White House scaling back its corporate tax cut ambitions. Hope you didn’t sell your soul for this. (New York Times)
  • Vote for Ugly (newyorker)
  • Blackstone Group ($BX) is remarkable for its consistency. (bloomberg)
  • Tech stocks are on fire. IBM ($IBM) is not. (ft)
  • Contentment is not the enemy. (feld)
  • The Upside and Downside of Liquidity-Driven Markets (bloomberg)
  • Manhattan, all to ourselves. (polloplayer.wordpress)
  • Here’s the Reason Vanguard’s Jack Bogle Doesn’t Fly First Class (marketwatch)
  • A talk with Steven Levy about rock ‘n roll and technology. (longform)
  • Do Public Universities Favor the Upper Middle Class? (thefiscaltimes)
  • Amazon ($AMZN) is now going to stock Kenmore appliances. (buzzfeed)
  • Research on how VCs make decisions. (medium)
  • Critics of "Made in America" Show How Out of Touch They Are (usatoday)
  • Amazon Prime and Other Subscription Businesses: How Do You Value a Subscriber? (25iq)
  • How Investors Can Play Defense (wsj)
  • You Probably Don’t Have What It Takes to Beat Market (marketwatch)
  • Once an Aspiration, It’s Now Official: Jay-Z Is a Real Businessman (newyorker)
  • A talk with Carl Richards about what he is doing in New Zealand. (advicereinvented)
  • The Next Iteration Of The Dark Web (ft)
  • Betterment just raised money at a $800 million valuation. (bloomberg)
  • Jason Zweig: Why I hate adverbs (Jason Zweig)
  • Brett McKay talks with Jonathan Clements about how to think about money. (artofmanliness)
  • Beware the False Promises of ‘Faux’ Privatization (spectator)
  • Changing demographics are helping to drive interest in ESG-style investing. (institutionalinvestor)
  • Is a Growing Middle Class Good for Poor? (brookings)
  • How today’s bull markets are different than prior ones. (macromon.wordpress)
  • Dirty & Difficult: Why Oilfield Work Doesn’t Thrill Millennials (oilprice)
  • The Fed Balance Sheet & the Taper Tantrum That Ain’t (Yet) (pimco)
  • Can you use computational biology to beat the market? (bloomberg)
  • Stop Talking About Your Generation: Millennials and boomers grew up under very different economic conditions (bloomberg)
  • Elon Musk Gets Approval for 29-Minute D.C. to NYC Hyperloop (usatoday)
  • Many workers are at-risk of seeing their pensions slashed. (cbsnews)
  • Michael Covel talks with Jimmy Soni and Rob Goodman authors of “A Mind at Play: How Claude Shannon Invented the Information Age.” (trendfollowingradio)
  • Barry Ritholtz talks with Ed Thorp author of "A Man for All Markets." (ritholtz)
  • Lyft’s opportunity is now. (fortune)
  • Goldman’s ($GS) 450 or so partners own just 4.8% of the firm today. (wsj)
  • It’s never too late to get started. (fundersandfounders)
  • The Man Who Got Americans to Eat Trash Fish Is Now a Billionaire (bloomberg)
  • Evidence-based investing is still in its infancy in France. (evidenceinvestor.co.uk)
  • Deficits Are Evidence of Drift & Indecision (investors)
  • Some guidelines on how to make working from home work for your firm. (fundersclub)
  • Don’t Fall for the Biggest Misconception About FAANG Stocks (marketwatch)
  • A breakdown of Beyonce’s revenue shows how little musicians make from streaming (qz)
  • Atul Gawande on Priorities, Big and Small (medium)
  • Here’s the True Definition of a Recession — It’s Not About GDP (mises)
  • The global economy is showing signs of picking up speed. (scottgrannis.blogspot)
  • Patrick O’Shaughnessy talks with Rishi Ganti, who invests in what he calls "esoteric assets." (investorfieldguide)
  • George Pearkes talks with Herb Greenberg about financial journalism and writing financial research. (bespokepremium)
  • Making the argument for the index fund as a great, modern invention. (bbc.co.uk)
  • A Surging American Export (themoneyillusion)
  • What Do Interest Rates Have to Do With Stock-Market Returns? (realclearmarkets)
  • Potential output estimates are pretty much worthless. (ftalphaville.ft)
  • Goldman Sachs On Hiring Spree to Become Google of Wall Street (businessinsider)
  • The problem with drones: the buzzing. (qz)
  • Stock-Brokerage Industry Enters the Twilight Years (Bloomberg View)
  • Wealthy Retirees Stick With Stocks, And They’re Happy (forbes)
  • Wall Street Opens Its Wallet to Prep for Post-Volcker Era (bloomberg)
  • Have managed futures gone mainstream? (rcmalternatives)
  • How SurveyMonkey has moved foward after the passing of CEO Dave Goldberg. (fastcompany)
  • A Fight Against Robots Is a Fight Against Wealth (realclearmarkets)
  • Why target-date funds should hold some venture capital. (beta.morningstar)
  • The risk facing prime malls. (ft)
  • How quants calm the markets (Wall Street Journal)
  • When is Deutsche Bank NOT in the eye of the storm? (New York Times)
  • Meb Faber talks with Ron Lieber author of "The Opposite of Spoiled" about how we should talk to our kids about money. (mebfaber)
  • The Financial Industry Needs to Start Planning for the Next 50 Years, Not the Next Five (hbr)
  • ‘Downtown’ Josh Brown Just Bought Bitcoin –> Tipping Point? (marketwatch)
  • What the Media Will Describe As QE Doesn’t Make It So (realclearmarkets)
  • Investors feel like they can’t not put money into alternative assets. (ft)
  • Unreformed Stock Picker: Without A Boss, Bill Miller Is Betting On Amazon, Bitcoin And Bob Dylan (forbes)
  • What would happen if Netflix ($NFLX) cracked down on password sharing? (qz)
  • Fintech means different things to different constituencies. (visualcapitalist)
  • Compulsive Central Banks May Trigger Global Recession (janushenderson)
  • Markets are pretty simple at the moment. (bclund)
  • How Liberals Can Win Americans Left Behind in New Economy (newrepublic)
  • For as long as I live I will never understand why people are paying for this (Institutional Investor)
  • Media consolidation is full on. You can thank John Malone for much of it. (nytimes)
  • The Single Biggest Market Risk Now? 21 Questions With Jesse Felder (hedgeye)
  • A discussion with Derek Thompson author of "The Hit Makers" about addiction and virality. (a16z)
  • Netflix ($NFLX) now recognizes that each show it makes needs to garner a decent audience. (qz)
  • China: The Xi Dynasty’s Debt Extravaganza (yardeni)
  • Why Malcolm Gladwell has embraced podcasting. (poynter)
  • How Twitter ($TWTR) fuels anxiety. (theatlantic)
  • Brett McKay talks with Robert Moor author of the book "On Trails: An Exploration." (artofmanliness)
  • Russ Roberts talks with Tamar Haspel about the economics of food. (econtalk)
  • What To Do If Your Defined Benefit Pension Plan Is Frozen (usatoday)
  • Netflix ($NFLX) has been very effective in producing shows people want to watch. (ft)
  • Succession planning in investment partnerships require transparency and time. (avc)
  • Over 10 years, Martha Stewart has quietly become the perfect blogger (theverge)
  • Can a musical podcast change the genre? (wired)
  • It’s cheaper to launch a startup in Chicago than in other major cities. (inc)
  • Why good people leave large tech companies. (steveblank)
  • A three-step framework for growth leadership. (firstround)
  • What’s Still Unloved? (blogspot)
  • You know it’s not going well when hedge fund managers out here doing sponsored tweets (New York Post)
  • A discussion with Erik Brynjolfsson, Andrew McAfee co-authors of "Machine, Platform, Crowd." (a16z)
  • American Homes Are Now More Valuable Than Ever (cnbc)
  • Weekly initial unemployment claims are still trending at historically low levels. (calculatedriskblog)
  • Don’t Buy False Hype: Retirement Contributions Never Higher (forbes)
  • On the emotional, geographical and musical divides between country music and rock and roll. (revisionisthistory)
  • Short Sellers Give Up as Stocks Run to New Records (Wall Street Journal)
  • Buy (or sell) $100 of digital coins on Coinbase and get $10 in Bitcoin free! (coinbase)
  • A list of the S&P 500 companies with the biggest pension funding gaps. (bloomberg)
  • When It Comes To Investing, It’s Important to Trust but Verify (forbes)
  • How is Venmo going to make money? (theatlantic)
  • Defusing the Most Volatile Issue In the U.S./China Relationship (realclear)
  • Starting a company is cheaper than ever. Growing a company is more expensive. (andrewchen.co)
  • Some of Ben Carlson’s favorite podcasts. (awealthofcommonsense)
  • Toward a Private Flood Insurance System (realclear)
  • Eleven mistakes one founder made, and lived to talk about. (medium)
  • Podcasts are great, but are they a business? (hunterwalk)
  • CBO’s Budget Projections Worse Than Useless (fee)
  • I like Bill Miller, this story is great (Forbes)
  • Why Dollar Weakness May Have Gone Too Far (marketwatch)
  • The Bull Market We Love to Hate Still Has Legs (barrons)
  • More companies are "freezing" their pension plans in place. (usatoday)
  • Return on equity in corporate America is really low. (ritholtz)
  • New York Becomes the City That Never Shuts Up (nytimes)
  • Residential Construction Rebounded Smartly in June (realclear)
  • David Perell talks with Morgan Housel about pretty much everyhting. (perell)
  • Don’t be fooled by hindsight bias, Netflix’s ($NFLX) success was never certain. (pensionpartners)
  • Bitcoin may have reached a tipping point, now that ‘Downtown’ Josh Brown just invested (MarketWatch)
  • Should America’s Powerful Tech Giants Be Broken Up? (bloomberg)
  • The Unemployment Rate Is the Most Worthless Measure of All (realclearmarkets)
  • The Limits of ‘Made in America’ Economics (theatlantic)
  • The Twenty Most In Demand Jobs That Pay More than $100k (usatoday)
  • The Most Important Lessons from History’s Greatest Inventors (fee)
  • Organizations don’t value time for thinking. (ft)
  • The Rise and Fall of F. Lee Bailey: More than 20 years ago, Bailey helped Simpson beat murder charges. Now, with Simpson paroled, the bankrupt, disbarred Bailey opens up about his own incredible saga. (townandcountrymag)
  • Cardiff Garcia talks with Tim Harford about his new book "50 Things that Made the Modern Economy." (ftalphaville.ft)
  • David Beckworth talks with Ryan Cooper about the ongoing hangover from the great financial crisis. (soundcloud)
  • The Airports Of the Year 2040 Are Going to Be Amazing (bloomberg)
  • Can the Most Expensive Indie Movie Ever Break Even? (wsj)
  • Shedding Red Tape Is the Key to a Successful Infrastructure Policy (nationalreview)
  • $4 Trillion Nightmare Looming Over Pension Funds (hedgeye)
  • It’s easy to overthink things in markets. (theirrelevantinvestor)
  • This Is the Only Way OPEC Can Kill U.S. Shale (oilprice)
  • Major indexes haven’t gone a calendar year without a pullback of at least 5% in at least 30 years (wsj)
  • Lawbreaking Particles May Point to a Previously Unknown Force in the Universe (scientificamerican)
  • Anthony is a good dude. Glad to see him get his White House wish fulfilled (NBC News)
  • There is always a handful of stocks dominating the market. (awealthofcommonsense)
  • Wal-Mart ($WMT) is not rolling over and playing dead. (l2inc)
  • It’s okay to get help with things. (nickgrossman.is)
  • When Washington Snoozes, The Economy Wins Big (investors)
  • Wall Street is thinking about Apple ($AAPL) as more than just the ‘iPhone company.’ (aboveavalon)
  • Microsoft absolutely on fire (Axios)
  • Being an entrepreneur is a lonely business. (feld)
  • The easy money is being made, enjoy it while it lasts. (Irrelevant Investor)
  • Bitcoin Community Cheers as Miners Back New Scaling Framework (Bloomberg)
  • That 1970’s Show: Britain Back to Being the Sick Man of Europe? (economist)
  • Amazon Slips: FTC Investigating Allegation of ‘Deceptive Discounting,’ Says Reuters (Barron’s)
  • 10 High Quality Stocks That Play Defense (morningstar)

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