MiB: John Carreyrou on Theranos & Bad Blood

This week, we speak with John Carreyrou, two-time Pulitzer-prize winner, and author of Bad Blood: Secrets and Lies in a Silicon Valley Startup. Carreyrou first became aware of Theranos via a Ken Auletta column in the New Yorker, Blood, Simpler. The story of how Elizabeth Holmes dropped out of Stanford University after her freshman year to launch blood-testing… Read More The post MiB: John Carreyrou on Theranos & Bad Blood appeared first on The Big Picture.

10 Weekend Reads

The weekend is here! Pour yourself a mug of Mocha Java coffee, grab a seat by the pool, and get ready for our longer form weekend reads: • Discuss: The End is Near for the Economic Boom: Growth will slow. The bull market will expire. Here’s why and what you need to do about it. (Fortune) • Zuckerberg: The Recode… Read More The post 10 Weekend Reads appeared first on The Big Picture.

Succinct Summation of Week’s Events 7.20.18

Succinct Summations for the week ending July 20th, 2018 Positives: 1. Jay Powell’s Congressional testimony was uneventful (thank heavens for the little things); 2. Index of leading economic indicators rose 0.5%, beating expected 0.4%. 3. Jobless claims fell 8k w/o/w from 215k to 207k, the lowest level since 1969. 4. Retail sales rose 0.5% m/o/m, in… Read More The post Succinct Summation of Week’s Events 7.20.18 appeared first on The Big Picture.

How Hard Will Trump’s Trade War Hit?

Short answer, according to WaPo: hit harder than people think it will: “These cate­go­ries show a sim­i­lar trend. Most dur­able goods (brown lines) have be­come cheap­er since the end of 1999. Dur­able goods are typ­i­cal­ly used for three years or more, such as furniture, cam­eras and auto­mo­biles. As a cate­go­ry, they are more likely to… Read More The post How Hard Will Trump’s Trade War Hit? appeared first on The Big Picture.

10 Friday AM Reads

My end of week morning train reads: • Buy the Tweet, Sell the Blog Post (Irrelevant Investor) • Disney, Economic Gravity and Vibranium Physics (Redef) • Mueller’s Latest Indictments Show That ‘Witches’ Are Very Real (National Review) • How to Spend It: the shopping list for the 1% (The Guardian) • The Last Days of Blockbuster Video: For One Last Night, Make… Read More The post 10 Friday AM Reads appeared first on The Big Picture.

10 Thursday AM Reads

My morning train reads: • Netflix was the great disruptor. Will it now be disrupted?(Washington Post) • The Most Important Number in Finance Is Going Away. Wall St. Isn’t Prepared (New York Times) • Trump’s Tax Cut Hasn’t Done Anything for Workers (Bloomberg View) • Can Economists and Humanists Ever Be Friends? (New Yorker) • Your Haircut Is (Probably) Too… Read More The post 10 Thursday AM Reads appeared first on The Big Picture.

Bloomberg: Index Funds Are Going to Be Just Fine

Index Funds Are Going to Be Just Fine Inflows have slowed? Actively managed funds would like to have that problem. Bloomberg, July 18, 2018     A few recent observers have pointed out that inflows into index funds have slowed recently. See, e.g., this or this. I believe these folks are simply confusing correlation with causation or… Read More The post Bloomberg: Index Funds Are Going to Be Just Fine appeared first on The Big Picture.

10 Wednesday AM Reads

These ain’t not our mid-week morning train reads: • Why Artificial Intelligence Won’t Pick Stocks … At Least Yet (Institutional Investor) • Rethinking How To View Your Time (ofdollarsanddata) • The most important skill nobody taught you (Quartz) • Interview with Madeleine Albright: ‘I Am an Optimist Who Worries A Lot’ (Spiegel) • Are we truly alone in the cosmos? New study… Read More The post 10 Wednesday AM Reads appeared first on The Big Picture.

MiB: Financial Follies of Professional Athletes

Dave Butler, this week’s guest on Masters in Business, is an ex-athlete. He’s also co-chief executive officer and head of Global Financial Advisor Services for Dimensional Fund Advisors, which manages about $600 billion. So he’s in a great position to understand the financial mistakes that too many professional athletes make. Butler discussed some of the… Read More The post MiB: Financial Follies of Professional Athletes appeared first on The Big Picture.

Bloomberg: Taxpayers Should Never Subsidize Stadiums

Four Reasons Taxpayers Should Never Subsidize Stadiums Elected officials have been played by team owners and sports leagues. Bloomberg, July 16, 2018       What is it about billionaires that they feel compelled to sup at the public trough?  This comes up again and again with the public financing of sports stadiums. As much… Read More The post Bloomberg: Taxpayers Should Never Subsidize Stadiums appeared first on The Big Picture.

10 Tuesday AM Reads

My Two-for-Tuesday morning train reads: • Amazon’s share of the US e-commerce market is now 49%, or 5% of all retail spend (TechCrunch) but see Amazon Foes Walmart and Microsoft Deepen Tech Partnership (Wall Street Journal) • “The market is rolling simply because it’s rolling” (A Wealth of Common Sense) • Earnings Surprises: The Stock Market’s Worst-Kept Secret (MoneyBeat) • How Facebook Checks… Read More The post 10 Tuesday AM Reads appeared first on The Big Picture.

Transcript: DFA’s Dave Butler

      The transcript from this week’s MIB: Dave Butler, Dimensional Fund Advisors Co-CEO 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 on iTunes, Stitcher, Overcast, and Bloomberg.   ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio. RITHOLTZ: This week on the podcast,… Read More The post Transcript: DFA’s Dave Butler appeared first on The Big Picture.