The Big Picture

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• Fed: “Understanding House Price Index Revisions”
• The Activist Investor Scorecard
• Asset Class Returns vs. “The Average Investor”
• 10 Tuesday AM Reads

Fed: “Understanding House Price Index Revisions” Posted: 21 Jan 2015 02:00 AM PST

The Activist Investor Scorecard Posted: 20 Jan 2015 12:30 PM PST Source: NY Times

Asset Class Returns vs. “The Average Investor” Posted: 20 Jan 2015 08:30 AM PST This chart tells us three things: 1) People are obviously doing something wrong very wrong with their investment dollars; 2) Attempts at generating Alpha end up costing most investors their Beta; 3) Irrationality, emotions, and cognitive errors are the underlying cause of this poor performance.   Source: ValueWalk

10 Tuesday AM Reads Posted: 20 Jan 2015 04:30 AM PST Welcome back to a holiday shortened work week. By the time you read this, I will be winging West to Seattle, but no worries: We have your hand curated morning train reads ready to go: • Barron's Roundtable: Masters of the Game (Barron’s) • The State of the Economy, in Eight Charts (Real Time Economics) see also Update: Predicting the Next Recession (Calculated Risk) • Six in Ten Mom-and-Pop Currency Traders Lose Money Each Quarter (MoneyBeat) • It's time to market forecasters to admit the errors of their ways (Washington Post) • Obama Proposes New Muni Bonds for Public-Private Investments (Bloomberg) • Since antiquity, moneymen have been the target of vitriol. (History Today) but see also Global Wealth Is Flowing to the Richest, Study Finds (NY Times) • Lunch with the FT: Marc Andreessen (FT) • The coming revolution in much cheaper life-saving drugs (WonkBlog) • Why GOP leaders are reckless on global warming (Post-Partisan) • At Oscars, They Coulda Been Contenders: The films of the past that should have been invited to the Best Picture party (WSJ) What are you reading?       2014 Was the Warmest Year Ever Recorded on Earth Source: NY Times

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