10 Wednesday AM Reads
My mid-week morning
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The 2020s Will be the Decade of Customization For Financial Advisors In the 2020s, customization will be the next step in investing technology. The three biggest trends in this customization boom will be: (1) Direct indexing (2) ESG investing (3) Defined outcome investing (Wealth of Common Sense)
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How London grew into a financial powerhouse London is a hub for trading currencies and interest rate derivatives. Its location allows traders to catch the end of the Asian day and the opening on Wall Street. The good fortune of geography is underpinned by high-quality tech infrastructure. As a result, London accounts for 43% of the turnover in the $6.6tn-a-day foreign exchange market and half of the daily $6.5tn traded in interest rate derivatives. Brexit has not dented the UK capital’s dominance in these markets (Financial Times)
10 Tuesday AM Reads
My Two-for-Tuesday morning
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Investment Advice From Psychologist and Poker Star Maria Konnikova: Poker, much like investing, is a balance between skill and chance, says Maria Konnikova, a writer who has parlayed her doctorate in psychology into a career chronicling human behavior and decision making. The big takeaway: Focus on the decision-making process, rather than dwelling on losses or missed opportunities. (Barron’s)
see also
My 2020 Investing Lessons You’re never as dumb as you feel during a bear market nor as smart as you feel during a bull market. Unfortunately, sometimes it takes a nasty bear to remind investors of this fact7. (A Wealth of Common Sense)
10 Monday AM Reads
My back to work morning
train WFH reads:
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How Pfizer Delivered a Covid Vaccine in Record Time: Crazy Deadlines, a Pushy CEO Albert Bourla and his team overcame unproven science and manufacturing bottlenecks; ‘you’re asking for too much’ (Wall Street Journal)
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The Return to the Office Gets Put on Hold Most Americans can’t do their jobs from home. BLS reports only one-third of U.S. workers before 2020 held jobs that could feasibly be performed remotely. For the two-thirds who didn’t, the pandemic has meant higher job losses and higher risk of disease and death for those who kept their jobs. (Bloomberg)
MiB: 1,000 Year Bonds & Where Fixed Income is Attractive ritholtz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ritholtz.com Daily Mail and Mail on Sunday newspapers.
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This is Master in Business with Barry Ritholtz on Bloomberg Radio.
BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest. His name is Mike Swell. H e’s the head Of Fixed Income Portfolio Management at GSAM, that’s Goldman Sachs Asset Management Group. They run over $700 billion just on fixed-income side.
And, man, let me tell you, this is a master class in fixed income investing. If you are interested in where to get yield, how to pursue it, what the risks are involved, where there are the best opportunities for fixed income investing, where you’re not getting paid to take risk, I don’t even know what else to say.