Must Reads of the Week – November 20, 2018

Must Reads of the Week

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

“If you fell asleep in 1945 and woke up in 2018 you would not recognize the world around you. The amount of growth that took place during that period is virtually unprecedented.”
How This All Happened | by Morgan Housel | Collaborative Fund Blog

“I distinctly remember reading one paper in particular—value and momentum everywhere—somewhat early in my career and thinking: this is the kind of research I want to do forever.
The Past, The Present & Future of Quant by Patrick O’Shaughnessy | Investor’s Field Guide

“But one way to understand Friendsgiving’s recent popularity is as the expansion of the Thanksgiving holiday into something more like a Thanksgiving season.”
How Friendsgiving Took Over Millennial Culture by Ashley Fetters | The Atlantic

“He realized no such singular trove of government data existed to his liking, and made creating one an important piece of his philanthropy. “There’s a lot of data out there,” he says, but it’s hard to put it into a framework that gives people a clear overview of where help is needed and what needs to be done.”
Steve Ballmer’s Bid for an Educated Citizenry by Jay Greene | The Wall Street Journal

“This is exactly why the God complex is so irresistible. The overwhelming confidence reels people in. However, there is something much more primal, something deep within human nature, that makes confidence so compelling. People have a need to believe in something.”
The Old Gods and The New by Nick Maggiulli | Of Dollars and Data

“Every year, American cities and states spend up to $90 billion in tax breaks and cash grants to urge companies to move among states. That’s more than the federal government spends on housing, education, or infrastructure.”
Amazon’s HQ2 Spectable Isn’t Just Shameful—It Should Be Illegal by Derek Thompson | The Atlantic

“Companies from Silicon Valley to Detroit are racing to become the first to bring driverless cars to the mass market. But doing so relies on autonomous vehicles’ sensors properly interpreting inputs from the environment, and that’s not as easy as it seems.”
The Bumps Ahead for Autonomous Vehicles | The Wall Street Journal

“Indeed, for most investors, high yield trailing equities is an indication that a downturn is not yet around the corner.” 
The Homeless Crisis Is Getting Worse in America’s Richest Cities by Noah Buhayar and Esme E Deprez | Bloomberg

“Why are all financial crises so similar? Dalio researched 48 prior crises, finding the same basic steps occurring with startling predictability in each crisis.”
MIB: Why Capitalism is Not Working for Majority of Americans by Barry Ritholtz | The Big Picture

“America is at its best when we reward people based on the quality of their work, not the size of their pocketbook. Denying students entry to a college based on their ability to pay undermines equal opportunity.”
Michael Bloomberg: Why I’m Giving $1.8 Billion for College Financial Aid by Michael R. Bloomberg | The New York Times