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Finance vs. Wal-Mart: Why are Financial Services so Expensive?
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"In the absence of evidence that increased trading led to either better prices or better risk sharing, we would have to conclude that the finance industry's share of GDP is about 2 percentage points higher than it needs to be and this would represent an annual misallocation of resources of about $280 billions for the U.S. "
Thomas Philippon, New York University
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US Banks Haven’t Behaved Like This Since 2009
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If there is one thing Ben Bernanke got right, it was this.
Alhambra Investment Partners, December 11, 2018 , Jeffrey P. Snider
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Do stocks outperform Treasury bills?
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"All of the wealth creation can be attributed to the thousand top-performing stocks, while the remaining 96 percent of stocks collectively matched one-month T-bills."
Arizona State University, W. P. Carey School of Business, May 2018 , Prof. Hendrik Bessembinder, Francis J. and Mary B. Labriola
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The ECB’s QE End Is Bullish
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Closing the chapter on QE is bullish—not bearish—for investors, in our view.
Fisher Investments MarketMinder, 11/08/2018 , Editorial Staff
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Notes on The Bitcoin Standard
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"Bitcoin, as designed, is deflationary."
Man on the Margin, July 16, 2018 , Michael Kendall
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What do rising rates mean for international investments?
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OFI Global Asset Management, October 11, 2018 , Brian Levitt
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Do we still believe interest rates will remain low for long?
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OFI Global Asset Management, October 11, 2018 , Brian Levitt
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Bloomberg: Prattle Analysis Shows Men Speak 92% of Time on Earnings Calls
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Prattle, September 18, 2018
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...on The Diversification Fata Morgana.
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Excerpt
The Diversification Fata Morgana: Capital Account Openness and the Fall and Rise of Stock Market Correlations, 1890-2000 , 2015 , Dennis Quinn and Hans-joachim Voth
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Shadow Risk in Passive Investing
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Excerpt
Artemis Capital Management, October 2017 , Christopher Cole, Founder & CIO of Artemis Capital
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