Q&A: Noah Smith talks with Richard Florida author of The New Urban Crisis: How Our Cities are Increasing Inequality, Deepening Segregation, and Failing the Middle Class-and What We Can Do About It. (Bloomberg)
Quote of the Day
"From what I've seen, I wouldn’t place too much value on the system that Dalio says has made him very rich. Just because it's based on data doesn’t mean it can’t be an echo chamber."
(Cathy O'Neil)
Chart of the Day
US stocks have been outperforming international stocks for a long time.
Markets
- David Swensen is nervous. (bloomberg.com)
- The CAPE ratio is 13% too high according to this model. (frbsf.org)
- Fund managers love the Eurozone but hate the UK. (fat-pitch.blogspot.com)
Cryptocurrencies
- Cryptocurrencies are rife with pump-and-dump schemes. (businessinsider.com)
- Bitcoin exchanges are a weak link in the chain. (bloomberg.com)
- Open a Coinbase account, trade $100 in crytpo and get $10 in Bitcoin free! (coinbase.com)
Amazon
- The classic "The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It" by Scott Patterson is just $1.99 for the Kindle. (amazon.com)
- Amazon Music Unlimited is now just $0.99 for the first three months. (amazon.com)
- "Eat Pray Love" by Elizabeth Gilbert is just $1.99 for the Kindle. (amazon.com)
Companies
Fund management
- The 2017 Wall Street Oasis Hedge Fund Report. (wallstreetoasis.com)
- Robert Shiller is worried about the free-rider problem with indexing. (pragcap.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail newsletter. (abnormalreturns.com)
- Want to support Abnormal Returns? Get yourself (or someone you love) an annual membership. (abnormalreturns.com)
- Love Abnormal Returns? Like us on Facebook. (facebook.com)
Global
- How does the rise of the tech giants change the macroeconomy? (ft.com)
- Demonitization has not put a dent in the Indian stock market. (indexologyblog.com)
Economy
- "Income and corporate taxes are just part of the tax system." (calculatedriskblog.com)
- The economics profession is facing its own replication crisis. (wired.com)
Earlier on Abnormal Returns
- Personal finance links: a direct result of overconfidence. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: catching up with the news. (abnormalreturns.com)
