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Buying is easy, selling is hard $(Link)
The researchers looked at more than 4 million trades among 783 portfolios from 2000 to 2016 and found that stock pickers actually showed skill when buying. However, the sales by these institutional investors cost them as much as 100 basis points, or a full percentage point, of yearly returns compared with a no-skill strategy of simply selling holdings at random. Translation: Investors spend way more time analyzing what to buy than what to sell.
Global inequality - it ain't what it used to be (Link)
On the planet as a whole, inequality has fallen dramatically. Not only has it fallen in terms of income, but it’s fallen in other dimensions of human well-being such as life expectancy and schooling. This is a poorly known fact in need of greater coverage. The poorest of the world have since experienced large increases in incomes. In fact, their living standards increased more rapidly than those of the richest in the world. Thus, there has been a fall in inequality. Depending on the methodology, the indicators of global income suggest falls between 9% and 33% since the 1970s.
German household saving rate is on the rise. Most of real wage gains are being saved, not spent.
