Every fundamental portfolio manager says they have a Sharpe of 1.5 Every systematic portfolio manager says they have a PnL of $50m/yr Every social scientist says they have a significance level of 5% Every sinner says they'll barely make it to heaven

AVs are one of the great new technologies! They're safer than humans. Consumers love them. And some in Boston want to do regulatory sabotage at the behest of special interests. Unbelievable Luddism. Make no mistake about it- people will die as a result if this bill passes.

We are hosting the 14th Advances in Macro-Finance Conference in Santa Barbara on Oct 17 and 18. Please submit your paper at

Taking bags with you during an emergency evacuation can be deadly for passengers behind you—if there's a fire, every second can matter. Should there be criminal penalties for taking actions in an emergency that threaten other travelers?

Companies that hire consulting firms see large increases in labor productivity and also large increases of wages, with no decline in labor share or value added. It seems like a lot of the more nihilist theories of why companies hire consultants are not true on average!

"For my part, were I of the opinion that a certain book would contribute more than any other to establish free trade in the world at large I would not hesitate an instant to give myself up heart and soul to the study of this particular work." --Vilfredo Pareto, born in Paris

Before colonization, Western Europe was already much more technologically advanced than sub-Saharan Africa. This difference alone explains 78% of their current difference in wealth

The general view of the UK economy is that it's been stagnating for decades now. But on some of the most important metrics it's actually going backwards...

I buy low-fee index funds because the EMH is overwhelmingly true

So photogenic. 😎 #AllTogetherDifferent #MasonNation 💚💛 📷: OUB