What Makes Smart Guys So Dangerous

(Bloomberg Opinion) -- My “it’s August already?” morning plane reads:

  • Are Stock Buybacks Starving the Economy? (the Atlantic); see also Buybacks Are Great in Theory, Less So IRL (Bloomberg Opinion)
  • An Inverted Yield Curve May Not Portend Doom (Wall Street Journal)
  • Smart guys are the most dangerous: prone to overconfidence, and susceptible to overthinking — both deadly sins in money management. (Behavioral Macro)
  • Is the Key to Beating the Market Written in the Stars? (Let me save you a click: No.) (Bloomberg Businessweek); see also Online Investors Consult Astrology to Chart Their Financial Courses (Wall Street Journal)
  • A light shines on the concentration of power in Silicon Valley (Financial Times)
  • The growth delusion: An interview with David Pilling (Washington Post)
  • Josef Kates Found Ways to Unsnarl Traffic and Solve Business Problems With Computers (Wall Street Journal)
  • Deadly spiral: As an AIDS epidemic runs out of control and deaths rise above 30,000 a year, Russians look for scapegoats (Coda)
  • Why We’re Sharing 3 Million Russian Troll Tweets (FiveThirtyEight)
  • Ernest Hemingway’s 8 Favorite Bars Around the World (Architectural Digest)

What are you reading?

Apple Drives Stock Market’s Buyback Spree

What Makes Smart Guys So Dangerous

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

Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of “Bailout Nation.”

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