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.
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 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.
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.
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.
The Porsche Mission E Cross Turismo is a fierce competitor to Tesla — it can be produced in volumes by an automobile company that knows how to do volume manufacturing. It looks great, Porsche is known for best in class driving dynamics. The world’s fastest luxury sedan is not only good looking — its coming in… Read More The post Porsche Mission E Cross Turismo appeared first on The Big Picture.
U.S. weapons exports from 1950 to 2017. Data from the Stockholm International Peace Research Institute’s Arms Transfers Database. Units are expressed in trend indicator values (TIV). Each dot on the map = one TIV. Visualization by Will Geary. The United States of Arms The United States of Arms from Will Geary on Vimeo. The post U.S. Weapons Exports, 1950 to 2017 appeared first on The Big Picture.
Four years ago this week, the first Masters in Business podcast broadcast. It is hard for me to grok what this has become. The original concept was similar to what I had in mind at the start of the Big Picture: as a news and media junkie, I wanted the financial press to be better — whether it… Read More The post Bloomberg Radio’s Masters in Business, 4th Anniversary appeared first on The Big Picture.
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.
This is an interesting data point: Seattle: 65 (1st for 3rd year in a row) Chicago: 40 Los Angeles: 36 Portland: 30 Denver: 28 San Francisco: 26 DC: 27 New York: 20 Boston: 13 I am not sure how the data is assembled, but I wonder how accurate it is — I think there are… Read More The post Where the Cranes Are in America appeared first on The Big Picture.
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.
Where’s Your Raise? It Should Be Coming Pressures for bigger pay increases are building, but have yet to show up in the data. Bloomberg, July 11, 2018 During the past few years, I have written that I expected wages would begin to rise. They have, at least on a nominal basis, or… Read More The post When Will Wage Growth Begin in Earnest ? appeared first on The Big Picture.
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.
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.
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.
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.
Larry Fink, chairman and chief executive officer at BlackRock, talks about the potential impact of a true global trade war on markets and the U.S. economy. BlackRock’s Fink Sees U.S. Slowdown, 10-15% Market Drop in Tariff War BlackRock’s Fink Says Clients Have Zero Interest in Crypto Source: Bloomberg The post BlackRock’s Larry Fink on Economy, Trade & Markets appeared first on The Big Picture.
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.