My Two-for-Tuesday morning train reads: • There’s Less to Private Equity Than Meets the Eye (Bloomberg) see also Persistence That Just Ain’t So (CFA Institute) • High-tech farmers are using LED lights in ways that seem to border on science fiction (Washington Post) • Why ‘Free Trading’ on Robinhood Isn’t Really Free (Wall Street Journal) see also Cheap is Great, But… Read More The post 10 Tuesday AM Reads appeared first on The Big Picture.
Click to explore the tree. Source: Straits Times BoingBoing: The legendary comic-book author, publisher, and film producer Stan Lee has died. He co-created Spider-Man, The Incredible Hulk, the Avengers, the X-Men, Black Panther, and many more characters and imaginary worlds we’ve come to know through comic books, games, and movies. It is difficult to imagine what… Read More The post Marvel Cinematic Universe appeared first on The Big Picture.
The Best Tool for Understanding the Market and Trump Consider the counterfactual. It puts this year’s paltry returns on stocks and the president’s popularity into perspective. Bloomberg, November 5, 2018 We spend lots of time thinking about the future. This is especially true for those of us who put capital to use… Read More The post All Hail the Counterfactual ! appeared first on The Big Picture.
My back to work morning train reads: • Active vs Passive, European Edition: Only 25% of actively managed funds in Europe beat their passive counterparts (Morningstar) • Will Fox News survive as a house united? The cable network’s ongoing drama in the Trump era (Washington Post) • Sludge Detectives: The “BE Police” Take On Hotel Booking Sites (Behavioral Scientist)… Read More The post 10 Monday AM Reads appeared first on The Big Picture.
The transcript from this week’s MIB: Ray Dalio, Bridgewater Associates, is below. You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Stitcher. Our earlier podcasts can all be found at iTunes, Stitcher, Overcast, and Bloomberg. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: Dear Lord, I… Read More The post Transcript: Ray Dalio, Bridgewater appeared first on The Big Picture.
My easy like Sunday morning reads: • D.E. Shaw Is a Quant King. Its Humans Are Losing Money (Wall Street Journal) • We Only See a Version of the Truth (Belle Curve) • Additional Insights into the Value Factor’s Inner Workings (O’Shaughnessy Asset Management) • When Sales Isn’t Just Selling: Advice for Founders in Early Markets (Andreessen Horowitz) • The Mystery of the… Read More The post 10 Sunday Reads appeared first on The Big Picture.
This week, we speak with Ray Dalio, founder, Co-Chair and Co-CIO of Bridgwater Associates, author of Principles: Life and Work. His new book, Principles for Navigating Big Debt Crises was just published (free PDF here). Dalio’s prior MIB appearance is here. Dalio describes how 48 of the greatest financial crises look so very similar from a structural perspective. He… Read More The post MIB: Ray Dalio, Bridgewater Associates appeared first on The Big Picture.
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat by the fire, and get ready for our longer form weekend reads: • ETFs In Chaos: Shock Absorbers (ETF.com) • The beasts of Silicon Valley (Quartz) see also Tech C.E.O.s Are in Love With Their Principal Doomsayer (New York Times) • The World’s Art Factory Is… Read More The post 10 Weekend Reads appeared first on The Big Picture.
Succinct Summation of the Week’s Events Positives: 1. Midterm elections are over! Markets liked the idea of divided government and gridlock, rallying strongly the day after. And even better, the robo calls, emails, commercials, and door bell rings will stop (until the Presidential Election in 2020). 2. November has seen stocks bounce off of recent lows,… Read More The post Succinct Summation of Week’s Events 11.9.18 appeared first on The Big Picture.
Why You Should Stick With `Buy and Hold’ Beware of those who claim they have a strategy to capture the upside of market volatility and avoid the downside. Bloomberg, November 9, 2018 Wouldn’t it be great if for only a few pennies on the dollar, you could insure your portfolio against market… Read More The post BBRG: Why You Should Stick With Buy & Hold appeared first on The Big Picture.
My end of week morning train reads: • Blame Fox, not Facebook, for fake news (Washington Post) • Understanding Abundance, part 1: It’s Caused by Consumers (Medium) • You’re a Bad Investor? That Can Be Good (Wall Street Journal) see also How to Take Fear Out of Your Investing Decisions (Barron’s) • In secret chats, trolls struggle to get Twitter… Read More The post 10 Friday AM Reads appeared first on The Big Picture.
Long before BMW produced the mid-engined hybrid i8, there was the M1. The 3.5L straight six-cylinder engine made 273 bhp — but the same engine was turbocharged for racing versions produced around 850 hp. The very first “M” car, it was hand-built between 1978 and 1981 under the motorsport division of BMW. It was very different from… Read More The post 1980-81 BMW M1 appeared first on The Big Picture.
We live in the age of the algorithm – mathematical models are sorting our job applications, curating our online worlds, influencing our elections, and even deciding whether or not we should go to prison. But how much do we really know about them? Former Wall St quant, Cathy O’Neil, exposes the reality behind the… Read More The post Algorithms: Opinions Embedded in Math appeared first on The Big Picture.
Source: 538 Yesterday, I discussed what the Democrats should focus on (4 Agenda Items the New Congress Should Embrace) with their new found House Majority (latest estimates is that they picked up 37 seats): 1. Infrastructure 2. National Minimum Wage 3. Fiduciary Rule 4. Climate Change I try to stay in my lane,… Read More The post New Congressional Agenda, Part II appeared first on The Big Picture.
My Thursday morning train reads: • We are 3 Republican former U.S. Attorneys General. We salute Jeff Sessions. (Washington Post) • Buffett’s Underrated Investment Attribute (Base Hit Investing) • Meat Has a Replacement But No One Knows What to Call It (Bloomberg) • What if the Placebo Effect Isn’t a Trick? (New York Times Magazine) • “I’m Very Worried… Read More The post 10 Thursday AM Reads appeared first on The Big Picture.
On Monday, we discussed the counterfactual: “Imagine a president, any president — party is of little importance here. He or she gets elected during a strengthening economic recovery. A year after the election, the economy is doing about as well as before — jobs are being created, growth is picking up, the unemployment rate continues… Read More The post 2018 Midterms, Economically Adjusted appeared first on The Big Picture.
4 Agenda Items the New Congress Should Embrace Infrastructure is a no-brainer. So are upping the minimum wage, protecting investors and battling climate change. Bloomberg, November 7, 2018 Democrats won the popular vote in House races by 9.2 percent. This is a much larger share than the margin of victory that Republicans… Read More The post BBRG: 4 Agenda Items the New Congress Should Embrace appeared first on The Big Picture.
Five Reasons Why Stocks Have Fallen If the market’s recent dive led you to buy or sell, you’re doing this investing business wrong. Bloomberg, October 31, 2018 A few weeks ago, we discussed retrospective prescience — why everyone is so amazingly good at explaining what just happened. Apparently unaware of our own hindsight bias, we spin comforting narratives to… Read More The post You’re Doing This Investing Thingie All Wrong appeared first on The Big Picture.