Welcome back to the monkey house. Grab a banana, and swing into our morning train reads:
• Active Fund Performance = Index Fund +/- Skill – Expense Difference – Tax Difference (Morningstar)
• The Endless Parade of Recession Calls (Calculated Risk)
• All the Product Reviews Money Can Buy (NYT)
• A cautionary tale of relying on demographic projections (FT Alphaville)
• Why Behavioral Economics is Cool, and I’m Not (Medium) see also Born to Be Conned (NYT)
Be sure to check out our Masters in Business interview this weekend with Roger Lowenstein, author of When Genius Failed and America’s Bank: The Epic Struggle to Create the Federal Reserve.