Like all of life’s rich emotional experiences, the full
flavor of losing important money cannot be conveyed by literature. Fred Schwed
CHART OF THE DAY
SOCIETY AND CAPITAL
The L.E.D. Quandary: Why There’s No Such Thing As “Built ToLast” NewYorker. Politically speaking, the reason is obvious: even advocates
such as Cooper describe the transformation of a consumer economy fuelled by
obsolescence as a “radical, systemic change” that is likely, at least in the
short term, to slow economic growth. “This may be unacceptable to governments,
which use economic growth as their primary performance indicator,” Cooper
notes, rather dryly, in “Longer Lasting Products.”
To what degree do we have degrees? St.
Louis Fed. [map of bachelor's degrees by county]
[Editor's Choice Award]
Promises, Promises, Pension Promises, John Maudlin. "You must pay taxes, but the government
need not give you anything in return. They allow you to go on living somewhere
besides a prison cell." and "Bottom line … US
public service pensions are toast."
and "I think we’ll see many
more Detroits. Make sure you don’t live in one." and
"Whatever amount you are saving for retirement is probably not enough."
Best-Paid CEOs Run Some of Worst-Performing Companies, WSJ
"MSCI found that $100 invested in the 20% of companies with the
highest-paid CEOs would have grown to $265 over 10 years. The same amount
invested in the companies with the lowest-paid CEOs would have grown to $367. "
The world isn’t getting worse — our information is gettingbetter, Ray Kurzweil at GeekWire.com "What’s
actually happening is our information about what’s wrong in the world is
getting better. A century ago, there would be a battle that wiped out the next
village, you’d never even hear about it. Now there’s an incident halfway around
the globe and we not only hear about it, we experience it."
Pension Participation, Wealth, and Income: 1992-2010, Alicia
H. Munnell Boston College
How Is Income Inequality Measured? St.
Louis Fed. “Studies
using different data sources reach various conclusions on income inequality,
depending on the definition used for income.”
Daniel Dennett’s Most Useful Critical Thinking Tools,
FarnhamStreet.
How Political Ideology Affects Hedge Fund Performance,CIO. "How your hedge fund portfolio
performs after November won’t just be up to whether Hillary Clinton or Donald
Trump wins the US
presidential election—it could also be affected by whom your managers wanted to
win, according to new research."
A Practical Guide to Impact Investing, Wharton.
Systemic Risk and Systematic Value sr-sv.com "Systemic
Risk and Systematic Value is dedicated to socially responsible macro
trading strategies. Macro trading strategies are defined as alternative
investment management styles predicated on macroeconomic and public policy
events or trends. If the right principles and ethics are applied, social and
economic benefits arise from an improved information value of market prices,
increased efficiency of global capital allocation and reduced risk of financial
markets crises."
Why women tend to outperform men when investing, InvestmentNews. "According to the University
of California Berkeley ,
study, “Boys will be boys: gender, overconfidence and common stock investment”
by Brad M. Barber and Terrance Odean published in 2001 — the first of its kind
to look at gender and investing — women outperformed their male counterparts by
2.3% over a seven-year period."
A Wealth Tax Looks Like It Can Make a Country Richer, Noah
Smith. "But if the U.S.
replaced capital taxation with a tax on wealth itself, as Chen et al. suggest,
the effect is reversed. Rich people who don’t earn good returns on their
investments would see their net worth shrink." [comment: reporters and economists like always sound like they hate retirees…and entrepreneurs...and…]
Surprise, Inequality Has Narrowed Since 2007 (realclearmarkets.com)
"CBO's latest net income tabulations show that inequality was almost 5 percent
lower in 2013 than it was in 2007."
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