Five Things You Need To Read Today

I wanted to make sure you didn’t miss these links today…

Michael just dropped this epic post about the alleged “IPO shortage” and it blows up like 20 different myths about the state of the markets at once. The charts and stats here are amazing, and some really great points are made about private markets, public markets and what retail investors may or may not be missing out on. DO NOT miss this one.

Making Private Public (Irrelevant Investor)

On the tenth anniversary of the financial crisis, Ray Dalio drops his new book. It’s going to be a big one, but for now you can read his new LinkedIn post explaining what it’s about and why he wrote it.

Understanding Big Debt Crises (LinkedIn)

Here’s how Robinhood really makes its money – selling its order flow to high frequency traders. And they get a lot more than other brokerages do – like maybe as much as 10x more! Is this a conflict of interest or just the cost of a free trade being recouped in another way. Somebody has to pay for this somehow, right?

Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders (Seeking Alpha)

“Imagine the weight you would place on your decisions if you thought about the impact they would have on you and your offspring over the next hundred years.” Our analytics chief Nick Maggiulli is a deep thinker. He updates his blog just once a week but it’s always a great read. This one is about our time horizons as investors, entrepreneurs and human beings. You will love.

Nothing into Something (Of Dollars and Data)

Everyone from Ford to Apple is trying to get Donald Trump to understand 21st Century supply chains and how the childish ideas he has about trade, mostly conjured up from reading newspaper headlines during the 1980’s, are going to hurt American companies. “How many company warnings will it take to convince President Donald Trump that his trade war is backfiring?” Fortunately, the malevolence of the administration is paired beautifully with incompetence, so that the worst of what it attempts almost never actually gets done. So far…

 Ford to Trump: That’s Not How It Works (Bloomberg)

What are you reading today? Let me know here!