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Publication Name: Finance Clippings

Brief description: A Finance Professor's collection of articles, blog posts, and links from around the interwebs.

Publication URL: link

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Owner Name: Professor Richard Warr

Joined: November 15th, 2011


Finance Clippings wrote a new blog post titled Bitcoin is a fraud says JPM boss

https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers The problem with Bitcoin, as I see it, is that it is a commodity and not a currency.   It's largely like gold, except that gold has some use outside of being a means of speculation. While I wouldn't be surprised if Bitcoin remains marginalized, what is more important is the role that blockchain technology will play in finance in the future.
(12 days ago)

Finance Clippings wrote a new blog post titled The stupidest thing you can do with your money.

In a recent episode, the Freakanomics podcast talks about why you should index.  It's a great show - check it out: http://freakonomics.com/podcast/stupidest-money/ Interestingly, Anthony Scaramucci is interviewed as being an advocate of active management (he's the guy who ended up being fired by Trump after 10 days).  Scaramucci's arguments for active management don't really make any sense - they are based on the idea that financial advisors and active management are the same...
(55 days ago)

Finance Clippings wrote a new blog post titled Why 8.5% is delusional

I am quoted today in an article on Bloomberg.com about the Connecticut pension fund return assumptions.  The article is here:  https://www.bloomberg.com/news/articles/2017-07-20/connecticut-sinks-deeper-in-debt-as-pension-returns-lag-target So why is an 8.5% return assumption delusional? It's pretty simply really.  Assume that your fund is 50% bonds, 50% stocks.  Currently 10-year Treasuries are yielding about 2.3%.  Let's round that up to say 3% to be generous....
(67 days ago)


Professor Richard Warr is an Associate Professor of Finance at North Carolina State University. He teaches MBA investments and portfolio management and his academic research covers investments, risk management and capital structure.