Pain Gaps, Capital and Self-Driving Cars

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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Your Tuesday morning train reads:

  • "I don't know" (Bilello); see also The Academic Finance Papers That Changed My Mind (Alpha Architect)
  • How Epic Fortunes Were Created During the California Gold Rush (Priceonomics)
  • Is the Market Cheap? Three things you need to know about valuation, but don’t (Dash of Insight); see also The S&P 500 Valuation Tool That Shows 2007 Peak a Long Way Away (Bloomberg)
  • The Pain Gap: Earning returns vs. enduring returns. (Fool)
  • Underperforming fund managers seem to dodge Darwinian capitalism (FT), but see also Hedge funds to investors: give us permanent capital, please (FT)
  • The complete timeline to self-driving cars (Re/Code)
  • Wait! What? Trump Only Makes $500k a Year? (Talking Points Memo); see also Trump qualified for a tax break for New Yorkers making $500K or less (Crain’s New York)
  • History Is Repeating the Election of 1816 (Bloomberg View)
  • How the Clinton team will go after Donald Trump (Washington Post), but see Even supporters agree: Clinton has weaknesses as a candidate. What can she do? (Washington Post)
  • The Real Problem With Facebook and the News (Stratechery)

What are you reading?

Percentage of Companies Beating Estimates

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Barry Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
Brooke Sample at bsample1@bloomberg.net