Must Reads of the Week – October 24, 2018

Must Reads of the Week

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

‘Free’ rarely means costless; it invariably entails concealed charges and expenses. Free requires you to read the fine print, where you learn that free can be very expensive.”
Cheap Is Great, But Free Will Cost You by Barry Ritholtz | Bloomberg

“Growth is good, if only because runts eventually get eaten. But forced growth, accelerated growth, artificial growth – that tends to backfire.”
Haste Makes Waste by Morgan Housel | Collaborative Fund

“Picking an investment strategy or philosophy is easy…But sticking with a strategy or philosophy is often unbearable for many because the temptation always exists to tinker, trade, or completely alter the way you manage money.”
How To Stay in the Game by Ben Carlson, CFA | A Wealth of Common Sense

“Diversification is not just a defensive step, but to my way of thinking, a strong offensive step.”
Peter Bernstein on Hidden Variety in Averages by Jon Petersen | Novel Investor

“Speculators are raising funds to invest in real estate near the winning site—wherever that may be—or are gathering cash commitments so they can pounce immediately after the winner is announced.”
Search for Amazon HQ2 Sparks Real-Estate Speculation by Shayndi Raice and Keiko Morris | The Wall Street Journal

“Research by Maya Shaton shows that after the Israeli government prohibited retirement funds from displaying returns for periods shorter than 12 months, investors reacted by trading less and taking smarter risks with their savings.”
The High Financial Price of Our Short Attention Spans by Shlomo Benartzi | The Wall Street Journal

“But we still find it edifying to consider what if I had turned out to be Evil Spock and the rest of AQR my loyal henchmen. It would not have been pretty.”
The George Costanza Portfolio by Cliff Asness | Cliff’s Perspective, AQR

“You shouldn’t just follow the crowd if their choices aren’t compatible with who you are.”
A Change in Perspective by Nick Maggiulli | Of Dollars and Data

“At the end of the day, however, every lottery is essentially a tax, albeit a completely voluntary one that many taxpayers avoid by simply not playing.”
Per capita lottery spending has doubled since 1995 by Christopher Ingraham | The Washington Post