My morning train reads:
• Asset Managers With $74 Trillion on Brink of Historic Shakeout. (Bloomberg)
• Inflated Bond Ratings Helped Spur the Financial Crisis. They’re Back. (Wall Street Journal)
• A Conversation with NYU Professor Aswath Damodaran (Elm Funds)
• Trump’s China Problem Is That a Weak Yuan Is a Strong Weapon (Bloomberg Businessweek)
• New Tax Laws Drive More Americans Into Muni Bonds. (Wall Street Journal)
• FaceApp Is the Future (New York Times)
• A brief history of Facebook’s plan to read your mind (Dazed)
• How to Change Your Money Mindset Next Year, According to Science (Chime)
• Evolution Gave Us Heart Disease. We’re Not Stuck With It. Heart disease is still a new disease, and we can adapt accordingly. (New York Times)
• Trump quietly used regulations to expand gun access: His administration has mostly focused on expanding gun access through little-noticed regulatory moves. (Politico)
Be sure to check out our Masters in Business interview this weekend with Danny Blanchflower, economics professor at Dartmouth, former member of Bank of England monetary policy committee, and author of Not Working: Where Have All the Good Jobs Gone?.
10 Year Treasury yield below S&P dividend yield has historically been bullish.