What in the world is going on in Korea?! "A more specific and intriguing shift that undermines the rate of coupling is what appears to be an unusually large recent divergence in the social and political views of young men and woman, with young men becoming somewhat more conservative and young women becoming more liberal. This has been particularly noticeable in Korea (Display 9), where fertility has also undergone a dramatic decline. But it is apparent in many societies, e.g. in the US. This decline in coupling was more eloquently described by the Italian contemporary Marxist philosopher, Bifo Berardi, as “hyper-semiotization and the desexualisation of desire,”, i.e., the hypothesis is that contemporary life is more intermediated by signs in the form of digital media that are so intense that it is hard for us to comprehend them. As a result, interaction between people occurs more through a digital interface and is less intermediated by proximity and touch, thereby leading to a decline in erotic intimacy. This seems to be a highly plausible framing and, if so, suggests a profound and novel challenge if a solution is to be found." via podcast alum Inigo at @AB_insights

Investing Quote of the Day: "A successful stockpicker has the same relationship with a drop in the market as a Minnesotan has with freezing weather. You know it’s coming, and you’re ready to ride it out, and when your favorite stocks go down with the rest, you jump at the chance to buy more." - Peter Lynch

BofA: "for 4 of the past 5 years (and 34 of the past 40 years), the relative return of High Dividend Yield stocks (top decile of S&P 500 by dividend yield) has been more negatively correlated with S&P 500 returns than gold, bonds real estate and alternatives"

Multiple roommates. Ramen noodles. Near public transportation. Respect to the people who do whatever it takes. I worked as a bartender. Bar-back. $2.15 an hr plus whatever tips got shared. Worked at a retail store. Never had benefits at any job. Had 5 roommates in a 3 br apt. Ate lousy food out of cans and ate a ton of peanuts and shit food at happy hour. Had credit cards ripped up. Etc. But I learned a ton. Taught me what was right and wrong about running a business by watching my bosses and their bosses Yeah I know. It was much easier then, when inflation was 15 pct and national unemployment was 10 %. I know I was fortunate when I finally got fired from the store, and had to start my own business with zero cash. Bill collectors everywhere. Even luckier when I found my first customer so I could pay my bills But I recognize it’s so much harder today. Which is why I respect the people who are willing to do what it takes to get started

At $5 trillion, NVDA is the world's largest stock. It's also the largest company in history as a share of GDP (back to 1900). Is investing in the biggest stock a good idea? Historically, it's a terrible idea. via @Bridgewater & @NDR_Research

Taxes took 36% of a portfolio over the last 30 years! Ang breaks down Uncle Sam's cut across a century: "It's about 160, 170 bps per year. It sounds small, but you compound that over 30 years, and that results in 36% of your portfolio that just disappears." "This kind of modern era, it's the anomaly. It's not the norm." "If you can go across the century, that Uncle Sam's cut averages about 350 basis points." "The highest one is over 500 basis points, and it's during the 1940s, 1950s."

Investing Quote of the Day: "Having been on the sell side for many years and then on the buy side, I can say categorically that the single greatest error I have observed among investment professionals is the failure to distinguish between knowledge of a company’s fundamentals and the expectations implied by the company’s stock price." - Michael Mauboussin (@mjmauboussin)

Wanna seem something frightening?! Here's 50 mutual funds paying out 21% to 56% capital gains this year. If you're the board why wouldn't you require them to convert to ETF? 56%! Happy Halloween! Via @MorningstarInc