Another lovely day in NYC — crisp sunny and cold. It might be warmer after you absorb our extra-strength morning train reads:
• Why Active Management Fell Off a Cliff – Perhaps Permanently (TRB) but see If you want to make money on the markets you’ve got to tune out the noise (National Post)
• Apple Pay gets a big vote of confidence from the U.S. government (The Switch)
• At UPS, the Algorithm Is the Driver (WSJ)
• “In the one-thousand four-hundred and ninety-seven days since the market bottomed, we have admittedly been early in our call that the next shoe will drop. . .” (Irrelevant Investor)
• Jesse Livermore: The Greatest Trader Who Ever Lived (Crossing Wall Street)
• The size of the recent macro policy failure (Mainly Macro) see also Why do non-experts think they know about macroeconomics? (Noahpinion)
• Get Ready for $10 Oil (Bloomberg View)
• ‘From Atoms to Bits’: A Brilliant Visual History of American Ideas (The Atlantic)
• Arctic glacier’s galloping melt baffles scientists (Climate News Network) see also Why climate scientists are right about how hot the planet is going to get (Washington Post)
• How to Cause a Measles Epidemic in Five Easy Steps (Albert Einstein College of Medicine)
What are you reading?
When does the market expect the Fed to hike rates?
Source: Bianco Research