My afternoon train-reading:

• Who would have guessed Supermodels make bad currency traders? (FT.com)
• Leaving CAPE Town (Reformed Broker) but see Goldman turns bearish on US equities (FT)
• Fed Sent $77.7 Billion in Profits to Treasury Last Year (Real Time Economics)
• The Drunkard’s Walk (Seeking Wisdom)
• Three things the press gets wrong about Apple in China (Fortune)
• If you get a PhD, get an economics PhD (Noahpinion) see also The Case for Hiring “Outlier” Employees (Harvard Business Review)
• Bridge scandal: 10 things the public needs to know (Star Ledger)
• It takes a village to green-light new hires at Amazon (WSJ)
• Fallen foreclosure king David J. Stern is disbarred by Florida Supreme Court (MoJo)
• How Effective Will Your Diet Be in 5 Years? (Priceonomics)

What are you reading?

 

What You Know About Retirement Investing Is Wrong

Source: WSJ

 

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “10 Monday PM Reads”

  1. rd says:

    The pieces of the pie chart shows that the real target for advice on better retirement investing needs to be people in the lower income end. The chart shows 51% of holders have 0% in equities but only 36% of the total pie is bonds/GICs/MM funds. this implies that the 51% of the population have significantly less than 36% of the total pie since it is highly likely that people with much higher equity holdings will likely hold a reasonable percentage of the bonds and maybe some of the GICs/SV.

    About 31% of the population have reasonable allocations (40%-80%+) which correspond to conservative growth to aggressive growth allocations. I assume that some of the 80% people have at least some cash/CD savings outside of the retirement fund to help buffer risk.

  2. rd says:

    “Naked Statistics” is a good way for relatively lay people to get into the basics of probability and statistics to help with their drunkard’s random walk through life.

    http://www.amazon.com/Naked-Statistics-Stripping-Dread-Data/dp/0393071952

  3. RW says:

    How to legalise cannabis safely without curbing liberty

    One measure to limit abuse – consistent with either commercial or non-commercial distribution – would be user-set personal periodic limits on consumption: an instance of the “libertarian paternalist” strategy of “nudges” towards sensible behaviour.

    Almost no one plans to become a heavy daily user. Abuse is the accretion of countless undramatic decisions, each taken under the lure of current amusement, pleasure or relief, and neglecting the future. If each user, on starting to purchase cannabis, were required to choose a personal monthly quota, to be enforced by retailers, users’ long-term interests might have a fighting chance of competing with short-term impulses.

    NB: Frankly this could also be a rational policy approach to alcohol consumption and gambling. That, of course assures it probably will not happen but it still doesn’t hurt to point it out.

  4. ReductiMat says:

    Barry, if you haven’t read Mlodinow’s book yet I suggest you get it near the top of your list. Very enjoyable and enliglhtening read.

  5. rd says:

    David Weidner has an interesting piece out about how much of the bank settlements are tax deductible, so the taxpayer is left footing much of the bill.

    http://www.marketwatch.com/story/the-myth-of-bank-settlements-2014-01-14?dist=beforebell