The bonus this week comes from Barry Ritholtz and his Big Picture blog with an interview with podcaster Chris Compatiello. But the real bonus that comes with this interview is a link to his famous "10 Must Listen Podcasts" which basically constitute a course in investing covering all topics from day trading to real estate. The catch is that you have to subscribe to "Business Insider" in order to listen to the podcasts. But it only costs $3/week if you subscribe for a month ($2/wk for a year) so for the relatively modest cost of $12, you can listen to the whole series. It sounds like a pretty good investment of $12 to me. Hope everyone had a great weekend.
Succinct Summation of Week’s Events 3.6.20
Succinct Summations for the week ending March 6th, 2020
Positives:
1. Poor performance by the leading Socialist running for President gave markets a warm fuzzy.
2. Non-farm payrolls rose 273k m/o/m, above the expected increase 177k.
3. Same store sales rose 5.9% w/o/w, above the previous increase of 5.4%.
4. Jobless claims fell 3k m/o/m from 219k to 216k.
5. Home refinance apps rose 26.0% w/o/w, above the previous decrease of 1.0%.
6. Unemployment rate came in at 3.6%, below the previous 3.5%.
7. Construction spending rose 1.8% m/o/m, above the expected increase of 0.6%.
Negatives:
1. Bond markets fall to record low yields, warning something wicked this way comes.
2. Home mortgage apps fell 3.0% w/o/w, below the previous increase of 6.0%.
3. Non-farm productivity rose 1.2% q/o/q, below the expected increase of 1.4%.
4. Factory orders fell 0.5% m/o/m, below the previous increase of 1.9%.
5. Private payrolls came in at 183k for February, below the previous 209k.
6. PMI Services Index came in at 49.4 for February
7. ISM Mfg Index came in at 50.1 for February
by Barry Ritholtz
“The Big Picture” Sun 3-8-20
Chris Competiello, who covers Markets
& Investing at Business Insider, decided to put together a list
of his 10
must-listen podcasts. Its behind a paywall, but it includes many
people you know (including current and future guests on MiB): Mike &
Ben’s Animal Spirits,
WisdomTree/Jeremy Schwartz’s Behind
the Markets, Ted Seides’ Capital Allocators,
Patrick O’Shaughnessy’s Invest
Like The Best, and two eponymous pods, both The Meb Faber Show and The Sherman Show, plus a few others I have in
my queue to check out.
What made this so fun was that Chris posed
some really interesting questions: I have heard some of these before, but
certainly not all of them, and never all in one place.
If/when this comes out from behind the paywall,
I will share the full list; but until then, here are my own answers to Chris
interesting questions:
1. Why you started the
podcast:
Out of frustration with financial television and how they
interview their most interesting guests.. Its always ephemeral, superficial
nonsense that is stale by the time the guest leaves the building: What’s your favorite stock? When is the Fed going to cut
interest rates? Where will the Dow be in a year? (So
annoying)
I can tell you exactly
where I was when the idea for Masters in Business popped into my head:
Returning from Vancouver, in a Chicago airport lounge waiting for my
connection, watching Pershing Square’s Bill Ackman on FinTV get asked one
terrible question after another. On the plane ride back to JFK from O’Hare,
I started listing topics and questions I wanted to ask. I got to a few
dozen and realized there was something here. About 7 or 8 of those evolved into
the 10 questions I ask all of my podcast guests at the end of the pod.
2. What investors can
expect to learn from listening?
So much, if you pay
attention: Everybody has a different approach, but some consistent themes
come up again and again: the importance having a process versus focusing on
outcomes, being aware of your own biases, understanding the impact of costs,
why you should develop an expertise, continually educate yourself, read widely
and deeply, and recognize the role of luck in, well, everything.
3. What you’d like to
accomplish with the podcast?
I would like to create a library of the most interesting
thinkers in business and finance, be they fund managers, economists, academics,
quants, creators, authors, whoever.. I wish we had interviews like these of
people in the 1920s, or 30s, or 70s, or even 90s (that would be amazing).. I
want this body of work to be a useful tool for people today – and in the
future.
4. Why this form of
communication is crucial in today’s day and age?
It’s
funny: We all seem to have no time and yet big chunks of time while doing
something else: Commuting, being on a treadmill, walking the dog, driving, etc.
The format is perfect for this: it allows you to do other things on autopilot,
but it also creates space for deep dives into one person’s life and career. It
supplements or replaces a lot of the superficial nonsense that passes for news.
The ability to access a specific topic or person you want to learn about is
fascinating. We really do live in amazing times.
Source:
These 10 must-listen podcasts can help you master investing, from day-trading to real estate
by Christopher Competiello
Business Insider, March 5, 2020
http://bit.ly/BI10Pods
These 10 must-listen podcasts can help you master investing, from day-trading to real estate
by Christopher Competiello
Business Insider, March 5, 2020
http://bit.ly/BI10Pods
Some thoughts on its 4-year
anniversary
My own MiB top
10
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