Where has the money come from to pay for the pandemic? 18 answers to questions about this and other money mysteries...
https://t.co/11mGuqwhlP
#inequality#mmt#complexity
1. Hello. Today, the federal antitrust agencies have issued a new rulebook for corporate mergers - likely ending decades of unchecked corporate deals that let monopoly power grow.
This is a monumental day. Let’s unpack our new rulebook, and what it means for the economy.
The latest edition of the Asset Allocator Podcast is out now and this week we've spoken to @simonevancook about his return to multi-asset investing https://t.co/Zkgvxs6Q4R
Fund of Funds Insider: Is a big tech crash coming, or are they too big to fail? Columnist Simon Evan-Cook ponders whether the recent big tech revival is here to stay. The past three months have been a nightmare for most active managers. @simonevancook
https://t.co/5G6CCeCxJ8
The biggest problem with active funds? User error: The good ones work long, but their holders think short.
To solve this, the industry forces managers to closet track their market: This prevents short-term performance pain, but kills long-term returns.
What's the answer?
"The most ordinary cause of people's mistakes is
their being too much frightened at the present danger, and not enough so at that which is remote."
Cardinal de Retz
"One strange feature of Anglo-Saxon economics is that all economists are agreed that rent-seeking is bad, and yet no economist ever proposes any action to discourage it."
Spot on as usual by @rorysutherland