5/19/20 Power Five

  1. The Three Sides of Risk – Morgan Housel on losing friends in an avalanche and how to think about risk in investing and life. Recommend.
  1. The Man Feeding a Remote Alaska Town with a Costco Card and a Ship – I’ve wondered how people living in rural communities feel about being isolated from resources, in times like this. Very unlikely the current generation relocates, but maybe the next will see the impact a pandemic or emergency can have on rural hospitals, supply chains, and food shortages and consider a different lifestyle. Obviously nothing wrong with living in a rural community or indian reservation, but access to resources is vitally important.
  1. van Gogh by Car – “Art lovers will drive into the 4,000 square foot downtown industrial space and will stay inside their vehicles.” Years of work is at risk of being thrown out the window. To survive and thrive, you have to make a pivot.
  1. Heckman vs. Chetty – Chetty’s analysis certainly has flaws, but the amount of data and breadth and quality of publications is hard to ignore. Heckman is no slouch himself, but it’s always easier to criticize than create. Chetty’s body of work deserves criticism and hopefully will see continual progress in the years to come.
  1. 183 Benefits of the Coronavirus – 90,000 dead is a huge number and completely unnecessary if an appropriate response had been in place. But as with any tragedy, there is a silver lining.