Among the populist ideas that have gained currency are hostility to free trade, a sharp reduction in immigration, the redistribution of income, and nationalism bordering on jingoism. Dambisa Moyo doesn’t like it, and neither does Ian Bremmer.
The rise of populism has been fueled by rhetoric bemoaning the downward plight of the middle class, and that chorus has been joined by many from the left. But are we really worse off than we were a generation or a century ago? Not according to Steven Pinker, whose new book documents the dramatic improvement in lives across the globe.
Why do experts, CEOs, politicians, and other apparently highly capable people make such terrible decisions so often? Is because they’re ill-intentioned? Or because, despite appearances, they’re actually stupid? Nassim Nicholas Taleb, philosopher, businessman, perpetual troublemaker, and author of, among other works, the groundbreaking Fooled by Randomness, says it’s neither.
In this far-reaching interview, Jack Bogle comments on the future of index funds, argues that the value premium has been arbitraged away and attacks publicly-held mutual fund companies.
Technology is the driving force of our economy, and investors and their advisors would be wise to learn as much about it and its history as they can. Jimmy Soni and Rob Goodman’s A Mind at Play opens a window into a crucial period in the creation of the Information Age in which we now live.
What do living organisms, cities and businesses have in common? They all have organic characteristics: they’re born, grow, sometimes shrink and usually die. They all require energy to maintain and grow, and they all must deal with the sometimes undesirable byproducts of their existence.
Has productivity growth slowed in the U.S. and around the world, as is the conventional wisdom? Or is that just an illusion, caused by the difficulty of measuring the quality improvements that constitute the bulk of productivity growth? In a provocative interview, Woody Brock puts his unique spin on questions like these.
According to Richard Bookstaber, a financial risk manager is like a fire marshal. The problem, in a nightclub fire, is that people can’t get out fast enough because the exits aren’t big enough; they don’t have the time to get out because the fire is spreading too quickly; and there are too many of them.
Is the market efficient? Of course not – not exactly, or not even close, depending on your point of view. However, the efficient market hypothesis has remained surprisingly resistant. The reason is that, as MIT professor Andrew W. Lo says repeatedly in his new book, Adaptive Markets, “it takes a theory to beat a theory.” And, up to this point, there has been no alternative theory.
Who is better at value investing: robots or people? How have robots – the quantitatively-driven passive funds that hold, for example, low price-to-book stocks – fared against actively managed value mutual funds?