1995: "If that glove don't fit, you must acquit!"
2017: "If the case is old, you must be paroled!"
OJ Simpson was granted parole, and will likely be free in October … in related news the Browns are looking for a strong running back.
… Fake news isn't limited to politics.
Here is a peek at what I've been reading lately. These are the links I saved this week.
Hope you find some interesting and enjoyable tidbits.
Let me know if you read something I'd like … Or if there are other sources I should add to my weekly reading.
Thanks.
Lighter Links:
Market-Related Links
- The Financial Industry Needs to Start Planning for the next 50 Years, Not the Next Five. (HBR)
- Quant Funds that Chase Trends are this Year's Biggest Losers.(Bloomberg)
- How to Think like an Economist (If, that Is, You Wish To…) (Bradford-Delong)
- Inflation Forecast. (CXOAdvisory)
- Building Modern Monopolies, with Alex Moazed [Invest like the Best, EP.25]. (Investorfieldguide)
- Jeremy Corbyn, Emmanuel Macron and the Age of Volatility.(NewStatesman)
- 2Q 2017 PitchBook-NVCA Venture Monitor. (ValueWalk)
- Quant Vs Traditional Investors, and How Alphas Become Betas [Podcast]. (ValueWalk)
- The Alternative to Alternative Data for Investment Managers.(ValueWalk)
- Elon Musk Says Artificial Intelligence is the Greatest Risk We Face as a Civilization'. (Fortune)
- Extracting the Signal from the Noise: 7 Tips for Interpreting Macroeconomic Data. (MilkenReview)
- Beating the Odds: JumpStarting Developing Countries.(MilkenReview)
- Gas Guzzlers' Gains in Fuel Efficiency Go Farther Than Fuel Sippers' Do. (Wall Street Journal)
- Neuralink and the Brain's Magical Future. (WaitButWhy)
- Disentangling Cycles from Time. (MainStay)
- The Volatility of Bitcoin. (SSRN)
- The Absolute Dominance of the U.S. Economy, in One Chart.(MarketWatch)
- Legal Marijuana Market to Create Nearly 300,000 Jobs by 2020.(24/7 Wall St)
- The Older Population: Where the Money Is. (CFAInstitute)
- Why 90%+ of Active Stock Fund Managers Underperform the S&P 500. (ElliottWave)
Let me know what you think.
Thanks.
– Howard
-
AI Isn’t Just Crawling Forward … Now It’s Learning To Walk
The pace of AI progress is awe inspiring.
We are entering a golden age of innovation, disruption, and new possibilities.
Here is a small example. It's not the first time computers have learned to walk, but Google's DeepMind taught itself to walk with no human interaction.
Here is a video.
With very little structure around their knowledge, it's interesting to see how they developed movement – and where it seems distinctly artificial.
For a more instructional video, you can check out "Flexible Muscle-Based Locomotion for Bipedal Creatures" from 2013. It shows the generational differences between their bots as well.
AI is getting smarter, faster. Soon it'll have knowledge that we don't understand. And that will still only be the beginning.
Cool stuff!
-
What Are The Top 100 Websites?
There are over 1 billion websites on the internet, and it is constantly growing.
In fact, Google only indexes about 16 percent of the surface Web – and misses all of the Deep Web.
Not surprisingly, the most popular sites comprise the majority of internet usage.
The list of the top 100 trafficked sites was somewhat surprising (and not just because there were only three porn sites that made the cut).
Before looking, who do you think made the list?
Here is an infographic that shows who rules the Internet.
Leading the pack – Google, YouTube, and Facebook top the list (with Google, itself, getting an astonishing 28 billion visits per month) … For scale, that's over 500 times more visits than #100 site on this list.
Pretty insane!
-
Here Are Some Links For Your Weekly Reading – July 16th, 2017
Science, Art, or "PooPoo De Toro"…

Here are some of the posts that caught my eye. Hope you find something interesting.
- Ray Kurzweil: There's a Blueprint for the Master Algorithm in Our Brains (Futurism)
- Brain-training Games Don't Really Train Brains, a New Study Suggests. (WashPost)
- Why Men Don't Live as Long as Women. (Nautilus)
- What a Hunter-Gatherer Diet Does to the Body in Just Three Days. (CNN)
- Is Philosophy Simply Harder Than Science? (TLS)
-
Paul McCulley: “The Coming War between Trump & The Fed”
I just got back from an economic summit in Wyoming where I spent some time with Paul McCulley. He is an economist and former managing director at PIMCO.

He is the guy that coined the terms "Minsky moment" and "shadow banking system".
Recently, he put together this explanatory cartoon about the relationship between Trump & The Fed.
Truth, Humor, and a Unique Perspective … Worth a watch.
Ultimately, he is fairly bullish … but cautious. He says: "After eight good years on Wall Street, it's bound to end soon. Don't be greedy."
-
When Will You Die? A Look At Cause of Death in Different Demographics
As I get older, I've noticed how much more often my mental perception of myself, and the physical realities are incongruent.
I remember routinely being the youngest guy in the room. Obviously, that isn't true anymore (unless I'm at Denny's at 4pm).
I remember running around the park (without stopping). And I certainly remember enjoying working out with my son.
Things that used to be easy (or at least routine) now cause me stress.
But age affects everyone – and while my 24-year-old can still eat like a pig and lift heavily, those days are behind me.
I recently shared an article on "Conditioning Yourself To Take The Next Best Step," and I talked about getting back in shape … the mentality it takes, and the habits I carried with me from my days as an athlete
One of the hardest lessons for me to learn has been that I can't work out how I used to … or I injure myself.
It is not too far a leap to go from that – to thinking about mortality.
This interactive graphic, below, shows how people of different ages die. Click the image to try it yourself.
via FlowingDataYou can see what average mortality looks like (by plugging in "0" as your age) … or plug in your current age, sex, and race to see what's most likely to kill you (based on you having survived to now).
Unsurprisingly, congenital issues stop having high mortality around 10, and circulatory/respiratory issues become more prevalent as you get older.
Sure, this is based on averages – but it's interesting to see how locale and income play a role in your life expectancy.
According to a Harvard-run study, people live longer in more educated and affluent areas even if they're less well-off, and that's taking even after taking into account labor market, social connectedness, and other factors.
As well, the richest Americans live approximately 10-15 years longer than the other end of the spectrum as seen below.

via Harvard Gazette
Live Long and Prosper! … Or is it prosper and live long?
-
Rich People Spend Their Time Differently: An Income Distribution in Americans’ Pastimes
When it comes to American pastimes, many people focus on the big 3 sports: Football, Basketball, and Baseball. Nevertheless, there are a lot of different ways people spend their time. It is interesting to see what they watch – and what they actually play.
Nevertheless, there are a lot of different ways people spend their time. It is interesting to see what they watch – and what they actually play.
There is also a big difference based on income distribution. Here is an infographic.

via VisualCapitalist
Apparently, rich people like golfing, yoga and racquet sports … while poorer people disproportionately liked relaxing, writing for personal interest, and having hobbies.
It is also kind of interesting to see when people tend to do certain activities. Here is a chart showing the peak time for various sports and activities.
via Henrik Lindberg
You could build a business around data like that.
Interesting?
-
The Bezos Empire: Amazon, Whole Foods and More
Jeff Bezos is has acquired a lot of businesses since starting Amazon – Zappos, Audible, IMDB, and most recently Whole Foods (for $13.7 billion dollars).
On top of acquiring those businesses for Amazon – he also has diversified his own interests through Bezos Expeditions and as an angel investor.
Here is a chart to put things in perspective. Click on the image to see the whole infographic.
via VisualCapitalistTo grow the business, their customer base, and their competitive advantage … Amazon and Bezos re-invest heavily by aggressively acquiring companies and technologies – even though that strategy virtually eliminates Amazon's profit.
Despite minimal profits (literally less than a handful of profitable quarters since it started in 1994), Amazon has a market cap of roughly $470 billion in market capitalization. They've shown that there's a new algorithm for success – it's about vision and market domination. It is a long game with big stakes … and it looks like he's winning.
They've shown that there's a new algorithm for success – it's about vision and market domination. It is a long game with big stakes … and it looks like he's winning.
But You'd Still Call Them A Success
"Bezos recently told shareholders that the goal is to 'experiment patiently, accept failures, plant seeds, protect saplings, and double down when you see customer delight.'"
via Forbes
It's a similar idea to one that I've adopted – though on a different scale.
When people first look at Capitalogix they see a hedge fund – but that is just an application of our core capabilities. Internally, we know that we are an innovation engine that uses domain expertise in algorithmic trading, data science, and high-performance computing to generate something new.
Edges decay or disappear faster than ever before – that's what drives our pursuit of more ways to win.
When changing the way people play a game – you can't play by the same rules people used to.
-
Here Are Some Links For Your Weekly Reading – July 9th, 2017
I hate to admit it … but this is how I watched fireworks this year.

Here are some of the posts that caught my eye. Hope you find something interesting.
- When Neurology Becomes Theology. (Nautilus)
- 'Magical' Warfare Technologies and the Persistence of False Beliefs. (VoxEU)
- Who Really Needs to Be Gluten-Free? (New York Times)
- Machine Learning: The Past, Present, and Future by Tom Dietterich. (BigML)
- The Mathematical Corporation: Where Machine Intelligence and Human Ingenuity Achieve the Impossible. (BookReview)
- Machines Now Dominate Stock Trading and It's Having Unexpected Consequences. (BI)
- China May Home Prices Gain 10.4% in May, Dip from April's 10.7% Rise. (CNBC)
- Chinese Stocks Could Attract over $400 Billion in Flows, BlackRock Says. (CNBC)
- Prada Sells $185 Paper Clip, and Twitter Can't Hold It Together. (CNet)
- 3 Stocks to Hold For the Next 50 Years. (FoxBusiness)



