Economics may be a dismal science but a recent flap between two renowned Professors and a grad student simply trying to reproduce their results for a school assignment makes for a fascinating story.
Paul Krugman lashed out at the pundits who “turn their backs on the unemployed” based on the flawed findings of Reinhart and Rogoff in The New York Times.
Globe and Mail columnist Rob Carrick highlighted a rent versus buy argument that finds “owning never wins”. As is usually the case with buy v. rent debate, the case study is filled with assumptions like 4 percent maintenance expense on homes.
The United States may just be recovering from the previous housing bubble but sharp recent gains are giving rise to worries that another bubble may be forming in some markets.
While the S&P 500 and Dow Jones Industrial Average are hitting new highs, the US remains stuck in slow economic and employment growth. This New York Times column took a look at disconnect between the stock market and the economy.
Charlie Munger doesn’t get the same attention as Warren Buffett but he probably has better zingers. In an interview with CNBC, Mr. Munger bluntly characterizes high-frequency trading as “legalized front-running” and “basically evil”.
In an interview with CNN Money, legendary money manager Charley Ellis says that investors who see fees not in terms of assets but in terms of expected alpha will find fees “unbelievable”.
This Wall Street Journal video segment says that everyone should have a contingency plan and suggests some ideas. Some tips like the one to have 4 weeks of water around the house sound completely impractical.
Remember how BRICs became investment fads a few years back based on rosy economic forecasts looking ahead more than two decades? The Economist says that with the four emerging market economies slowing markedly, we may already be in a post-BRIC world.
Now for something completely different: Slate ran a story on the best pictures captured by Commander Chris Hadfield aboard the International Space Station. You can find many more pictures on Col. Hadfield’s Facebook page here.
