AutosDespite all the hype, “personal car ownership in the US has actually increased in the past 10 years.” (wired.com)Children are still dying in hot cars at a record rate. (wsj.com)How Dyson’s bet on a new EV went wrong. (bloomberg.com)TrafficCity planners are increasingly using traffic simulations to reduced congested streets. (axios.com)How a few simple tweaks helped Pontevedra, Spain reduce auto traffic in its city core by 90%. (reasonstobecheerful.world)EnergyIn Q3 the UK generated more power from renewables than fossil fuels since the late 1800s. (axios.com)Grid shutdowns are forcing California companies to look for alternatives. (washingtonpost.com)EnvironmentThe residents of Pecan Acres, Louisiana, are some of America’s first climate refugees. They will not be the last. (cnbc.com)Australia has its own issues with land clearing … [Read More...]

StrategyYou can’t count on the US stock market to outperform the rest of the world indefinitely. (morningstar.com)”Mean reversion is a powerful force.” (novelinvestor.com)ShoesThere is huge debate about Nike’s ($NKE) Vaporfly shoes in the running world. (nytimes.com)Why are stolen designs such a problem in the sneaker industry? (fastcompany.com)StreamingNetflix’s ($NFLX) top ten shows and movies over the past year holds some surprises. (nytimes.com)How streaming became just one more thing to manage. (latimes.com)Health insuranceCompanies are increasingly having their employees travel for specialized medical care. (wsj.com)United Healthcare ($UNH) is directing patients away from hospitals. (axios.com)TradingThe SEC is (still) looking for ways to make it easier to trade small and mid-cap type stocks. (wsj.com)Charles Schwab ($SCHW) is going to allow the … [Read More...]

MarketsSaaS stocks are having a rough go of it, of late. (news.crunchbase.com)The market is littered with those who called for a comeback in inflation. (mrzepczynski.blogspot.com)Asset allocationA eulogy for the 60/40 portfolio. (awealthofcommonsense.com)Why ‘traditional asset allocations’ don’t work for a lot of investors. (investwithanedge.com)Vanguard investors are pretty well-behaved. (theirrelevantinvestor.com)Streaming’Stranger Things’ helped to stabilize things at Netflix ($NFLX). (nytimes.com)AMC Theaters is launching its own on-demand video service. (engadget.com)BusinessFanDuel and DraftKings dominate sports betting in New Jersey. (ft.com)A 26-story Dallas apartment building will soon be used exclusively for short-term rentals. (wsj.com)Scotch makers are rushing to get their bottles to the US to avoid tariffs. (ft.com)AlternativesThe IMF is concerned about the rise in private/alternative assets. (ftalphaville…. [Read More...]

StrategyPlain-vanilla investors have had it pretty good for a long time. (theirrelevantinvestor.com)If the 60/40 portfolio is dead, what comes next? (marketwatch.com)Value investingJoachim Klement, “The challenge with becoming a value investor is that it is going against our natural impulses as investors.” (klementoninvesting.substack.com)The Fall 2019 issue of the value-focused Graham & Doddsville from Columbia University is out. (marketfolly.com)CompaniesGoogle ($GOOGL) has a vision for ‘ambient computing.’ The problem is that it has to sell it to consumers. (stratechery.com)It’s hard to underestimate the growing role that private equity has had on the US economy. (institutionalinvestor.com)Credit cardsWhy credit card interest rates remain stubbornly high: generous rewards programs. (wsj.com)Apple ($AAPL) and Goldman Sachs ($GS) are, for now, being picky about approving Apple … [Read More...]

QuantHow machine learning differs from traditional regression techniques. (mathinvestor.org)AI-powered hedge funds have generated decent performance. (factorresearch.com)Firm-level stuffWhy the that disclosure of non-operating and less persistent income-statement items are “both frequent and economically significant.” (papers.ssrn.com)Can firm-level characteristics enhance a momentum strategy? (alphaarchitect.com)Why are some companies much more expensive than they should be? (mailchi.mp)ResearchTen years of outperformance is still just noise in the big picture. (evidenceinvestor.com)How momentum explains a bunch of equity factors. (quantpedia.com)ESG portfolios need to be optimized on (at least) two different criteria: returns and ESG scores. (aqr.com)Birds of a feather flock together or why you should care who else owns the stocks in your portfolio. (morningstar.com)How a CEO’s personality can … [Read More...]

MarketsCommodities have had a dismal decade. (monevator.com)There is no single risk premia that can be viewed as “antifragile.” (mrzepczynski.blogspot.com)StrategyTony Isola, “Too many investors spend their precious time trying to answer the unknowable.” (tonyisola.com)There are two problems with waiting for a stock market correction: when it comes and when it doesn’t. (blairbellecurve.com)How past performance can be a misleading indicator for investors. (awealthofcommonsense.com)BlogosphereHow the Aleph Blog has changed over 3000 posts. (alephblog.com)If you are reading this, there is a good chance you are a lucky person. (rpseawright.wordpress.com)CryptoThere was always a better alternative to Facebook’s Libra staring us in the face. (finance.yahoo.com)CompaniesIf you can’t make money shorting shopping mall debt, what can you make money on? (wsj.com)Big … [Read More...]

MarketsFact check: oil prices are volatile. (calculatedriskblog.com)There are three major arguments for investing in agriculture. (nytimes.com)Value investingWhat do value investors discuss when they get together? (bnnbloomberg.ca)Do value stocks outperform during market drawdowns? (wisdomtree.com)CompaniesNews flash: Sears still struggling, post-bankruptcy. (wsj.com)Softbank could end up with control of WeWork. (wsj.com)J&J ($JNJ) is beset with lawsuits. (wsj.com)Consumer habitsMike Dariano, “Whatever it’s called, the only thing that matters is perceived value. How valuable a customer perceives the good or service determines how much pricing power business has.” (thewaiterspad.com)Sometimes consumer habits make zero sense. (awealthofcommonsense.com)CannabisCanada’s marijuana experiment has not turned out as expected due to the continued existence of cheap illegal weed. (bnnbloomberg.ca)The contradiction between state and federal laws on … [Read More...]

MarketsThe yield curve is no longer inverted. (valueplays.net)Pretty much any kind of trade deal with China would help at this point. (dashofinsight.com)Checking in on the valuation of some recent high-profile IPOs. (aswathdamodaran.blogspot.com)StrategyDoes it make sense to mix religion and investing? (wsj.com)Where did all the ‘stock market wizards’ go? (awealthofcommonsense.com)What bonds serve best as protection against stock market downturns? (gordianadvisors.com)When dividends lie. (alephblog.com)CryptoFacebook’s ($FB) partners in the Libra project are increasingly jumping ship. (nytimes.com)CompaniesApple ($AAPL) has a China problem. (vox.com)Fast-food chains are getting into the ‘ghost kitchen’ game. (businessinsider.com)FundsOn average, university endowments would have done better if they had indexed. (barrons.com)PolicyWhat’s the point of the Economics Nobel? (bnnbloomberg.ca)Some economists who could very well … [Read More...]

AmazonFranklin Foer, “Jeff Bezos has won capitalism. The question for the democracy is, are we okay with that?” (theatlantic.com)On the last-mile delivery battle between Amazon ($AMZN), Wal-Mart ($WMT) and Target ($TGT). (institutionalinvestor.com)Amazon’s ($AMZN) success has made it a target of labor, government and business. (newyorker.com)Places”Chicago right now is one of the most entrepreneurial and experimental local news markets in the country.” (cjr.org)Erie, Pennsylvania is in decline. It’s taking one last shot to turn things around. (wsj.com)HealthCan ibogaine be used to help opioid addicts ‘disrupt’ their habits? (wired.com)Our minds (and bodies) do not adapt to noise pollution. (theatlantic.com)SportsThe college admissions scandal had real victims: one athlete’s story. (propublica.org)The cheating scandal now rocking the poker world. (theringer…. [Read More...]

AutosThe GM ($GM) strike is in large part about the shift to electric cars. (marketwatch.com)Dyson has halted its efforts to build an electric car. (ft.com)EnergyUS household electricity consumption has flatlined for the past decade. (wsj.com)The big box retailers are rushing to cover their roofs with solar. (nytimes.com)How Penn State University cuts its emissions in half. (npr.org)Germany is struggling on whether to prioritize solar or wind power. (bloomberg.com)Consumer California is phasing out the use of single-use bottles in hotels. (edition.cnn.com)Consumers on flights generate a whole bunch of waste. (nytimes.com)Should frequent fliers be taxed more? (ft.com)Luxury water bottles are the new status symbols. (wsj.com)There is now a way to donate your used Lego bricks. (wired.com)EnvironmentSteel production … [Read More...]

The bizThe producer and “fourth co-host” of the Broken Record podcast, Justin Richmond talks about what it takes to put out the show. (techcrunch.com)FinanceBarry Ritholtz talks with Robert Shiller about his new book ” Narrative Economics: How Stories Go Viral and Drive Major Economic Events.” (ritholtz.com)Ted Seides talks with Jonathan Tepper author of “The Myth of Capitalism: Monopolies and the Death of Competition.” (capitalallocatorspodcast.com)Michael Covel talks with Larry Hite about his first book “The Rule: How I Beat the Odds in the Markets and in Life?and How You Can Too.” (trendfollowingradio.com)Why it’s at worth least asking: “who is on the other side of this trade?” (aqr.com)Meb Faber talks about the art of quant analysis with Rodrigo Gordillo. … [Read More...]

MarketsThe odd couple: tech and REITs lead sector performance YTD. (capitalspectator.com)Did technology break value investing? (ftalphaville.ft.com)How much faith should you put in stock market seasonality? (allstarcharts.com)StrategyHow our personality affects how we approach the market. (theirrelevantinvestor.com)Good luck integrating sector funds into your investment approach. (monevator.com)If you invest in stocks you need to expect losses. (novelinvestor.com)CryptoTether is coming under increased scrutiny. (economist.com)NetflixThe case against Netflix ($NFLX). (marketwatch.com)Netflix ($NFLX) is acutely aware of the threat of Disney+. (nytimes.com)Teens watch more YouTube than Netflix ($NFLX). (finance.yahoo.com)CompaniesWhy the market soured on Smile Direct Club ($SDC). (news.crunchbase.com)Just how much exposure does Softbank have to WeWork? (fortune.com)FinanceInstallment loans are the new credit cards. (economist.com)Can AI help solve the … [Read More...]

MarketsOf course, Chairman Powell keeps an eye on the stock market. (theirrelevantinvestor.com)You can invest according to your conscience without paying through the nose. (pragcap.com)Why diversification pays off. (thereformedbroker.com)NoisePhil Pearlman, “It’s easy to understand why the average news consumer is an emotional wreck these days.” (eightfatswine.com)How ‘financial porn’ can rot your brain. (thefinancialbodyguard.com)CryptoThe SEC turned down the Bitwise Bitcoin ETF Trust. (wealthmanagement.com)Social mediaMost Americans don’t know that Facebook ($FB) owns Instagram and WhatsApp. (mashable.com)A visualization of the rise (and fall) of social media platforms. (visualcapitalist.com)FinanceThe muni bond market has becoming increasingly professionalized. (wsj.com)The term ‘multi-family office’ is getting thrown around a lot recently. (institutionalinvestor.com)Fidelity joins the zero-commission fray. (wsj.com)GlobalThe world is starved for fiscal … [Read More...]

MarketsHoldings in money market funds have grown throughout 2019. (marketwatch.com)Natural gas producers have gotten crushed YTD. (wsj.com)RobinhoodWhy Robinhood ‘started from scratch’ when building its new cash management feature. (wsj.com)What industry-wide $0 commissions mean for Robinhood. (financial-planning.com)Endowment funds”2018 was the first that a 60-40 portfolio outpaced all Ivy endowments in terms of 10-year performance.” (ritholtz.com)University endowments are making the same mistake with private equity that they did with hedge funds. (finance.yahoo.com)The wealthyWhy do rich people still give money to the big Ivy League endowments? (awealthofcommonsense.com)Why do billionaires keep building and buying superyachts? (nytimes.com)Fund managementWhat is going to happen to the deals ETF firms have signed with online brokers? (wsj.com)Ray Dalio’s high profile provides Bridgewater Associates with a … [Read More...]

Private investingStartups are staying private longer due in large part to increased founder power. (nber.org)It’s becoming increasingly difficult for private equity to claim good news on the jobs front. (institutionalinvestor.com)ResearchWhat do you get when you combine low-vol and options-based strategies? (factorresearch.com)A field manual for finding an testing an alternative asset. (alphaarchitect.com)The ‘active manager paradox’ – not enough conviction. (blogs.cfainstitute.org)A three-step framework for building model asset allocation portfolios. (alphaarchitect.com)How big an effect has financialization had on the commodities markets? (priceactionlab.com)Does gender bias play a role in the outcomes for the Institutional Investor All-American research list(s)? (institutionalinvestor.com) [Read More...]

MarketsDoes the stock market give a flip about impeachment? (awealthofcommonsense.com)When your ‘alternative investment’ runs out of water. (afr.com)FinTwitHow Financial Twitter became a thing. (theirrelevantinvestor.com)Some alternative investment folks to follow on Twitter. (rcmalternatives.com)CryptoA new Bitcoin futures contract launches, another Bitcoin slump ensues. (wsj.com)A Bitcoin ETF is so close you can taste it. (cnbc.com)Pension fundsPension plans have not used the past decade to get their funding ratios higher. (klementoninvesting.substack.com)Why GE ($GE) froze its pension fund. (fa-mag.com)FinanceWhat kind of jobs do current CFA holders currently possess? (300hours.com)Now even big bond trades are going oniline. (wsj.com)BrokerageRobinhood’s cash management service has launched. (techcrunch.com)How ‘cheap’ and ‘free’ differ when it comes to trading stocks. (peterlazaroff.com)FundsJoel Greenblatt, “Warren Buffett … [Read More...]

StrategyNearly zero interest rates make for some challenging portfolio decisions. (awealthofcommonsense.com)A lot of investment success is just luck. (mrzepczynski.blogspot.com)WeWorkOne of the reasons the WeWork deal got pulled is that its S-1 was a hot mess. (wsj.com)WeWork landlords are getting nervous and making contingency plans. (ft.com)Direct listingsBill Gurley is pushing hard on the direct listing theme. (cnbc.com)Goldman Sachs ($GS) and Morgan Stanley ($MS) want to make sure they play a role in the direct listing process. (bloomberg.com)Zero commissionsWhere will brokers focus now that commissions are effectively $0? (wsj.com)Why Schwab ($SCHW) could lower comissions to $0. (barrons.com)What the online brokers are going to have to do to thrive in a zero-commission world. (pointsandfigures.com)FundsMutual funds still have on the … [Read More...]