Must Reads of the Week – October 10, 2018

Must Reads of the Week

Our favorite reads of the week and the quotes that make them worthy…

“As memories of the crisis fade as the economy recovers, we find the seeds of the next crisis are already being planted.”
The Next Financial Crisis Is Staring Us in the Face by Barry Ritholtz | Bloomberg

“Our chief thing is to tell clients at some point we will see a non-normal event again. Our job as managers is to survive it, and your job as investors is to allocate the right amount so you can stick with it.”
Quant Investor Cliff Asness Hasn’t Smashed His Screen This Year—Yet by Erik Schatzker | Bloomberg

“People born in the 1940s or ’50s were virtually guaranteed to achieve the American dream of earning more than their parents did, Chetty says. But that’s not the case anymore.”
The American Dream Is Harder To Find In Some Neighborhoods by John Ydstie | NPR

“Call it self-automation, or auto-automation. At a moment when the specter of mass automation haunts workers, rogue programmers demonstrate how the threat can become a godsend when taken into coders’ hands, with or without their employers’ knowledge.”
The Coders Programming Themselves Out of a Job by Brian Merchant | The Atlantic

“So risk management comes down to serially avoiding decisions that can’t easily be reversed, whose downsides will demolish you and prevent recovery.”
Risk Management by Morgan Housel | Collaborative Fund

“Personally, I would worry more about being able to afford the house you want rather than trying to time the market if you’re not a professional.”
How Often Can You Buy the Dip in Housing? by Ben Carlson | A Wealth of Common Sense

“The most important thing that regulators could do is force Facebook and Google — and all data collectors — to disclose their factory output. Give users the ability to see not simply what they put in — which again, Google and Facebook do (and which GDPR requires), but also what comes out after all of the inputs are mixed and matched.”
Data Factories | Stratechery