Who Owns All the Stocks & Bonds?
by Ben Carlson | A Wealth of Common Sense
“In other words, humans are the one constant in the markets and human nature doesn’t change. But markets do change and which humans control the assets involved in the markets has changed considerably over time.”
Origins of Greed and Fear
by Morgan Housel | The Collaborative Fund
“Greed happens when you overestimate how influential your past actions were on outcomes, enticing you to keep pushing right up to, and beyond, the point of eventual regret.“
Where is the Value?
by Ehren Stanhope | Factor Investor
“Investors always want to know what’s cheap—cheap relative to the opportunity set and relative to history.”
The White Flight From Football
by Alana Semuels | The Atlantic
“Even as broadcast networks lost viewers generally, NFL ratings were up in 2018. Americans still appear to have a growing fascination with the sport, even if a majority-white segment of the population doesn’t want their children to play it.”
The State of AI in 2019
by James Vincent | The Verge
“There’s intelligence in AI systems, if you want to call it that. But it’s not organic intelligence, and it doesn’t play by the same rules humans do.”