This article from The Economist lays out the reasons for and potential fall-out from MiFID2. If the new regulation ultimately results in fewer sell-side analysts covering stocks, it should increase the opportunity set of mis-priced securities for those who continue to pursue active investing, such as ourselves.

Read the full article in The Economist

This article is important but misses something.  Not only do CEO’s today need to provide leadership regarding appropriate behavior norms at their companies but they also need to lead by example.

Read the full article in The New York Times

As we field an increasing number of questions from clients related to the investment merits of bitcoin, I am reminded of a quote by the historian Charles Kindleberger, who wrote, “There is nothing so disturbing to one’s wellbeing and judgment as to see a friend get rich.”

 

Read the full article in The Economist

A very good article with a breakdown of the biggest winners/losers of the GOP tax bill.

Read the full article in The New York Times

As the world communicates, transacts, and absorbs everything through devices, control of this interface has consolidated that access into the hands of very few firms.

Read the article in The New York Times

Starting a new business involves a host of challenges, and chief among them is knowing what to spend your money on—and how much to spend. You have to consider salaries, marketing budget, office size, technology services, and on and on.

These spending choices require tradeoffs, so entrepreneurs must first develop a strategy for allocating limited resources across a wide range of available options.

Read the full article in The Harvard Business Review

This article lays out how the makeup industry has proven resilient and capitalized on social media as a driving force for expanded revenues.  Not just overall sales, but makeup store retailers benefit too.

Read the full article in The New York Times

Kari was recently featured in Barron’s to offer an explanation for Aureus’ outperformance versus the S&P 500. During the interview, she gives us her thoughts on where the market may be headed next year, what might cause the next correction, and some reasons for holding some of our favorite stocks.

Download her Barron’s interview here

If you have a subscription to Barron’s, you may also read the interview (and watch a short video of Kari) here.

Great article about how simply pricing as much as the market will bear is not always the best strategy for the long term.

Read the full article in The New York Times

Whether or not you feel your phone is the greatest and most indispensable tool in your life, this article points out the extent of our phone’s impact our brain.

Read the full article in The Wall Street Journal