Must Reads of the Week – January 30, 2019

Must Reads of the Week

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

“My point in writing this is to get you to answer the following question: What one piece of information would help you make better decisions in different areas of your life?”
One Big Thing by Nick Maggiulli | Of Dollars and Data


“So in a rising rate environment, you’re not being paid a premium anymore to extend your maturity in bonds since the interest rate differentials are so slim. However, it should be noted that no one has a clue about the direction of rates so in a situation where rates fall, you would see larger gains on the long end because volatility works in both directions.
Shifting Risks in the Bond Market | by Ben Carlson, CFA | A Wealth of Common Sense


“For me it’s been realizing that what makes people happy is having options – doing what you want, with who you want, when you want, where you want. And options come from savings and assets, which are the opposite of spending.”
The Biggest Returns by Morgan Housel | The Collaborative Fund


“Why are cities no longer lands of opportunity for middle-skilled workers and those without college degrees? The economic forces driving urbanization are changing, as the U.S. economy shifts from manufacturing to knowledge industries like software and finance.”
Big Cities No Longer Deliver for Low-Skilled Workers by Noah Smith | Bloomberg


“So SpaceX is making a huge rocket out of stainless steel. As far as we know, this marks the first time the material has been used in spacecraft construction since some early, ill-fated attempts during the Atlas program in the late 1950s.”
Elon Musk: Why I’m Building the Starship out of Stainless Steel by Ryan D’Agostino | Popular Mechanics


“You also want to be an exponential curve yourself—you should aim for your life to follow an ever-increasing up-and-to-the-right trajectory. It’s important to move towards a career that has a compounding effect—most careers progress fairly linearly.”
How To Be Successful by Sam Altman | Sam Altman Blog


“So, everyone thinks they’re special. It’s hard to be objective about something you’re are emotionally connected to. Which is why is it so important to be asset class and location agnostic. As you look around the world with an eye to valuation, ask yourself: Is the U.S. really that special? Or are you really just licking the glass?”
The Biggest Valuation Spread in 40 Years? by Meb Faber | Meb Faber Research


“My research suggests that people also feel guiltier about spending money to have more time than they do about spending money on material goods. Paying someone to complete tasks we ourselves don’t like can make us feel lazy, so we opt out to avoid that feeling.” 
Time for Happiness by Ashley Whillans | The Harvard Business Review


“At some point, of course, raising the minimum will reach an equilibrium and further increases could reduce the total job count. But at this point it’s possible that a national $15 minimum hourly wage could be adopted and there would be little or no negative impact on total employment.” 
Labor Market Is Doing Fine With Higher Minimum Wages by Barry Ritholtz | Bloomberg


“As a national belief in the collective has given way to an emphasis on the individual, Millennials have had to become less inhibited about the pursuit of self-gain, and more shrewd about how they define themselves.” 
Millennial Burnout Is Being Televised by Sophie Gilbert | The Atlantic