Ethics
  • Re-read The Great Gatsby by F. Scott Fitzgerald from an ethics perspective (not from a literature one)
  • Really different perspective thinking about ethics and also doing re-reading it 10 years after my first read
  • Truth vs. dishonesty
  • Nobility vs. status
  • Old money vs. nouveau riche
  • Cultural transplants, boredom
  • Moral values in '20s
  • importance of novels and short stories as conveyors of ethical lessons and questions (and thermometers of social values)
  • There is one moral truth, but all people have a different view of it and only see a portion of it.
Behavioral finance
  • Average SAT score of college attended by fund manager positively related to performance
  • Manager age negatively related to performance
  • # of items a stock has been in the news related to weight in mutual fund portfolios
  • Media coverage affects stock picking
  • Mutual funds not sophisticated
  • Media just grabs their attention and they go for it (not very careful)
  • No relationship between brand visibility and future returns
  • Individual's stock market participation influenced by social interaction and level of sociability
  • Higher wealth, higher education level, race (non-Hispanic) have higher investing participation rate
Doing deals
  • Major changes and risks in newspaper and broadcasting business in last 10 years
  • Secular change (growth of internet impacting traditional media businesses)
  • Regulatory risks
  • Tender offers in public companies
  • Tax liability issues
  • Public letters to management
 


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