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Money

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A new book chronicles the rise of passive investing, the pioneers who made it a dominant force in finance — and its potential downsides

Photo by Mathieu Stern on Unsplash

When the renowned investor Warren Buffett bets a million dollars on an outcome, it’s rarely a good idea to take the other side of it. In 2008, the hedge fund manager Ted Seides decided to try his luck anyway, taking on Buffett’s public wager that an index fund that tracked…

I Read It So You Don’t Have To

A recent book explains how humans think about wealth, economics, and success

What did I read?

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness published in September 2020.

So who is Morgan Housel?

Morgan Housel is a former financial columnist for the Wall Street Journal. He is now a partner at Collaborative Fund, an early-stage venture capital firm.

Give me the 30-second sell.

Unlike in the fields of medicine or engineering, expertise in…

The technology is fine, but its speculative bias reveals something sad about our relationship with money

Photo: Bermix Studio/Unsplash

As those of us who were around will remember, Bitcoin emerged out of the same spirit as Occupy Wall Street. Those of us holding seminars about economic power in Zuccotti Park were thrilled by the possibility of a decentralized currency that could be authenticated in a peer-to-peer fashion instead of…

No Mercy No Malice

A herd of unicorns is at the stable door, looking to trample Wells Fargo and Chase.

My north star(s) for philosophy, management, and politics are Star Wars, The Sopranos, and Game of Thrones, respectively. The Iron Bank (GoT) is a metaphor for today’s financial institutions, if present-day banks didn’t need bailouts or to invent fake accounts to juice compensation. Regardless, it was well known throughout Braavos…

Meet the executives who burn millions daily and enrich themselves while creating no real value

The Daily Benjamin Burn™ (DBB) is how much money an executive lit on fire per day during their tenure.

I’ve lost a lot of other people’s money. The most stressful times in my life have been when people believed in me and invested tens (if not hundreds) of millions in my company or idea, only to see their capital go up in smoke. …

The new world of ‘shit coins’ is fertile ground for pump-and-dump schemes

Pierre Borthiry for Unsplash

Last Wednesday was a rough day for cryptocurrency investors. Cryptocurrencies fell across the board, losing more than $500 billion in value at one point, with Bitcoin plummeting more than 20%. And while the market stabilized near the end of the day and bounced back some over the next couple of…

Number Crunch

Some of these interns sure look a lot like employees

Number Crunch logo next to a giant dollar sign and below the text “43%: Share of internships at for-profit companies that are unpaid Source: Washington Post”

43%: That’s the share of internships offered by for-profit companies in the United States that are unpaid, according data from the National Association of Colleges and Employers, per the Washington Post.

While unpaid internships have long been a subject of contention, Jane Slater, a reporter at the NFL Network, kicked…

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