Must Reads of the Week – November 28, 2018

Must Reads of the Week

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

“Though single models can perform well, ensembles of models work even better. That is why the best thinkers, the most accurate predictors, and the most effective design teams use ensembles of models.”
Why “Many-Model Thinkers” Make Better Decisions by Scott E. Page | Harvard Business Review

“What’s clear is that low-volatility strategies are an effective means to cut back on risk, but they won’t always perform as well as a cap-weighted index… They’re a great alternative for investors who want exposure to stocks but with less risk than a cap-weighted index, and they shouldn’t be used as a substitute for dedicated value and profitability strategies.
Low-Vol Strategies Are Not the Same as Value, Profitability by Daniel Sotiroff | Morningstar

“This doesn’t mean diversification is dead or broken, just that nothing works all the time in the markets. This doesn’t mean risk is not being rewarded in the markets, just that risk still exists in the short-term when investing in long-term assets.”
When Cash Outperforms Everything by Ben Carlson, CFA | A Wealth of Common Sense

“High-productivity technology businesses therefore tend to cluster around universities, in order to take advantage of the rich flow of ideas and skilled workers. That, in turn, draws smart educated people from other regions, boosting productivity and raising wages even for less-educated locals.”
How Universities Make Cities Great Again by Noah Smith | Bloomberg

“But the answer today is startling: China has risen so quickly that your chances of improving your station in life there vastly exceed those in the United States.”
The American Dream Is Alive. In China. by Javier C. Hernandez and Quoctrung Bui | The New York Times

“Had its angle of entry been even one degree off kilter, JPL mission engineers said, the spacecraft would have been deflected into deep space or burned up by friction in the thin Martian air.”
NASA’s InSight Spacecraft Lands Safely on Mars by Robert Lee Hotz | The Wall Street Journal

“Temperatures in the summer of 536 fell 1.5°C to 2.5°C, initiating the coldest decade in the past 2300 years. Snow fell that summer in China; crops failed; people starved. The Irish chronicles record “a failure of bread from the years 536–539.”
Why 536 was ‘the worst year to be alive’ by Ann Gibbons | Science Magazine

“Somebody gets an idea almost right, but not quite, and their business fails; then someone else does it just a little bit better and they are viewed as a genius for the rest of their life. The show captures that perfectly.” 
If you want to understand Silicon Valley, watch Silicon Valley by Bill Gates | Gates Notes

“With good behavior, Xu should be eligible for release around December. When the time comes, there will be nothing to stop G-Research from asking the court to keep him behind bars.”
The Triple Jeopardy of a Chinese Math Prodigy by Kit Chellel and Jeremy Hodges | Bloomberg

“What he found would change physics and our understanding of nature forever: matter can only emit or absorb energy in specific “chunks”! In other words, the energy values allowed are discrete rather than a continuous distribution. So, if an atom’s energy goes up or down during its interaction with light, it must do so in specific increments, no more, no less.”
Why everyone can — and should — learn quantum mechanics by Scott Bembenek, PhD |

“By the end of May, people with bad credit in China have been blocked from booking more than 11 million flights and 4 million high-speed train trips, according to the National Development and Reform Commission.”
Beijing to Judge Every Resident Based on Behavior by End of 2020 | Bloomberg News