Real Estate in 1991 & 2015

https://www.ft.com/content/0b97ccc6-797d-11e5-933d-efcdc3c11c89

Millennials: Twice As Many Have $100,000 Saved Than In 2015

Millennials are showing exactly why their reputation as poor money managers is largely bogus and outdated, according to a new report from Bank of America (BAC). One key piece of evidence: the portion of millennials who have saved $100,000 or more has soared, doubling to 16% since 2015. And now 47% of millennials have saved $15,000 or more. That's well up from just 33% in 2015.

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Most of those millennials with $100,000 or more in savings are older members of their generation. Twenty-one percent of millennials ages 28 to 37 have accumulated 100 grand among all of their savings, including bank accounts, IRAs and 401(k)s.

Just 5% of millennials ages 23 to 27 have reached the $100,000 level.

Overall — and contrary to their reputation — millennials, who are ages 23 to 37, are nearly as good as older generations at some money management skills, such as saving and budgeting. And they are as good as or better than other generations at certain additional key skills, the reportsays.

Notably, millennials outdo older generations when it comes to setting a savings goal, with 57% of millennials having set such a goal vs. just 42% of baby boomers and of Gen Xers.

Millennials lag slightly when it comes to actually saving, with 63% of them socking away money for the future vs. 75% of boomers and 64% of Gen Xers. And 57% of millennials budget vs. 57% of boomers and 54% of Gen Xers.

Yet millennials outdo their elders in certain important financial categories by applying the pluck that comes with relative youth. For instance, millennials are bolder about asking for a raise, with 46% having done that in the past two years vs. just 36% of Gen Xers and 39% of boomers.

Better yet, a whopping 80% of millennials who asked for a raise got one.

Still, millennials show hard-nosed realism about their financial circumstances. Sixty-four percent say their generation is not good at managing money. And 73% say their peer group overspends on unnecessary indulgences. Also, 75% say their generation overspends in comparison to other generations.

In addition, 73% worry about their financial situation. That's nearly identical to the 74% who fretted about finances in 2014.

These Are The Top 20 Stocks Millennial Investors Are Holding, Says Robinhood

https://www.investors.com/news/these-are-the-top-20-stocks-millennial-investors-are-holding-says-robinhood/

The Top 20 Stocks Held By Robinhood Users

1. Advanced Micro Devices
2. Apple
3. Ford
4. General Electric
5. Facebook
6. GoPro
7. Microsoft
8. Fitbit
9. Snap
10. Bank of America
11. Tesla
12. Twitter
13. Nvidia
14. Alibaba
15. Amazon
16. Netflix
17. Micron Technology
18. Square
19. Disney
20. Chesapeake Energy

Public Universities and State Support

https://www.theatlantic.com/business/archive/2017/10/midwestern-public-research-universities-funding/542889/

http://www.acenet.edu/the-presidency/columns-and-features/Pages/state-funding-a-race-to-the-bottom.aspx

https://www.amacad.org/multimedia/pdfs/publications/researchpapersmonographs/PublicResearchUniv_ChangesInStateFunding.pdf

States by Fiscal Condition (Mercatus)

https://www.mercatus.org/statefiscalrankings

University Budgets fiscal year 2018

UCLA 6.7 billion http://newsroom.ucla.edu/ucla-fast-facts (only 2% from state)
UIUC 4.8 Billion https://www.obfs.uillinois.edu/common/pages/DisplayFile.aspx?itemId=853507
GMU 1 Billion http://budget.gmu.edu/wp-content/uploads/18budexecsumm.pdf
HARVARd 4.8 Billion (Expenses) https://harvardmagazine.com/2017/01/best-of-times
STANFORD 5.9 Billion (Expenses) http://bondholder-information.stanford.edu/pdf/BudgetBookFY18_exe_summary.pdf


http://www.bestcolleges.com/features/colleges-with-highest-research-and-development-expenditures/

The 30 Largest Research Budgets
Johns Hopkins University (#31) (2.3 Billion)
University of Michigan (#10)
University of Washington (#33)
University of California System (#14)
University of California, San Francisco (#90)
University of Wisconsin (#37)
Duke University (#17)
Stanford University (#4)
University of California, Los Angeles (#55)
Harvard University (#1)
University of North Carolina at Chapel Hill (#35)
Cornell University (#22)
Massachusetts Institute of Technology (#7)
Columbia University (#12)
Texas A&M University (#9)
University of Pennsylvania (#8)
University of Pittsburgh (#29)
University of Minnesota (#32)
Ohio State University (#28)
Yale University (#2)
Pennsylvania State University (#27)
University of California, Berkeley (#65)
University of Florida (#74)
Georgia Institute of Technology (#54)
Washington University in St. Louis (#19)
University of Southern California (#24)
Northwestern University (#11)
Vanderbilt University (#26)
University of Illinois (#40)
Rutgers, the State University of New Jersey (#96)

Good Reading List

http://fmediocrity.com/reading-list/



1. Rich Dad Poor Dad: http://amzn.to/1VLAklY

2. The 4-Hour Workweek: http://amzn.to/1Qn5DA5

3. How to Win Friends and Influence People: http://amzn.to/1VLAoCe

4. The 48 Laws of Power: http://amzn.to/1VLAoSK
Much like Machiavelli or Confucius teachings about how to succeed in a society

https://www.youtube.com/watch?v=670ZGMBjrPI.

5. The Way of the Superior Man: http://amzn.to/1Qn5EDZ

Secular, rational advice about relationships with women.
https://www.youtube.com/watch?v=-5d4ea_q7mo

6. Man's Search for Meaning: http://amzn.to/1Qn5GM0

7. Mastery: http://amzn.to/1VLArOu

8. Mindfulness for Beginners: http://amzn.to/1VLAs4S

9. The Obstacle is the Way: http://amzn.to/1VLAslw

Steve Jobs Memorabilia

https://www.macrumors.com/2018/02/22/steve-jobs-questionnaire-signature-auction/

"At the Margin"

http://www.econlib.org/library/Topics/College/margins.html

What does it mean to think at the margin? It means to think about your next step forward. The word "marginal" means "additional." The first glass of lemonade on a hot day quenches your thirst, but the next glass, maybe not so much. If you think at the margin, you are thinking about what the next or additional action means for you.

U.S. Secretary of State Rex Tillerson at George Mason

https://www2.gmu.edu/news/501536

He spoke on March 6.

He was fired March 11 and replaced by Mike Pompeo, Director of the CIA.

“Today the case for going abroad is more compelling than any time in my life,” Tillerson said. “The world has transformed so dramatically. It is all interconnected. You cannot think about economic issues, security issues, without thinking about them in a global context. The earlier you understand that and interact with it, the better prepared you will be for it.”

“And go to the hard places, don’t go to the easy places,” he added. “It’s quite an experience to see how people exist around the world. Go to the hard places. It will change you.”

Historical Market share of Top 100 Tech Companies

https://www.economist.com/blogs/graphicdetail/2015/07/daily-chart-16

* Doesn't have Amazon

Assemblage of Presidents' Cabinet

https://www.npr.org/2016/12/28/506299885/how-the-donald-trump-cabinet-stacks-up-in-3-charts

http://www.latimes.com/projects/la-na-pol-trump-obama-bush-cabinet/

Young Professional Program (YPP) at the World Bank

https://www.ft.com/content/582c6c3e-f1da-11df-84ef-00144feab49a

Starting salaries are between $70,000 and $140,000 depending on experience. Gaining entry to the YPP programme is an arduous nine-month process and the Bank has received 6,000 applications for only 40 places next year. Proven commitment to development is vital, says Francesco Addis, the programme’s manager.

Long working hours and a hectic travel schedule means “family life does suffer”

With Changing Consumers, Retail changes too

http://www.businessinsider.com/trader-joes-sales-strategy-2014-10

How Pixar created its most complex character yet for 'Finding Dory' (CNET News)

Two Years
https://www.youtube.com/watch?v=Nn0S2vmSCU0

Charlie Rose & Lee Kuan Yew (2009)

https://www.youtube.com/watch?v=A8GwmsLXOx8

There are two rule of laws in China. One for the 76 million Communists and one for the rest.
Singapore could not have competed on certain fronts because China would do better.
But certain things China cannot catch up.
Opaque vs Transparent
No protection of IP vs protection of IP

That's why all pharmaceutical companies are based in Singapore and doing joint research. They sell to China but are not located in China.

What is remarkable about Obama. He put very capable men in the office.
He put people of opposing views: Lawrence Summers and Paul Volcker.

Economics Books to Purchase

Dani Rodrik

If you could gift yourself books at age 16 and age 25 – what would they be and why?

At 16 I was too much of a tech geek, so I would have benefited from some good books on the arts and humanities. The Story of Art by E.H. Gombrich, perhaps, which I should have read earlier than I did. At 25, I was about to embark on my PhD in Economics. I would have benefited from The Rhetoric of Economics by Deirdre McCloskey (though it was not published until three years later) – both because of its argument that economists rely on rhetorical tools to convince their peers and for the reminder that you can be a good economist and write well at the same time.

Which three books would you recommend for a complete novice who wants to learn about economics?

The Wealth of Nations by Adam Smith is timeless and remains indispensable. Reinventing the Bazaar: A Natural History of Markets by John McMillan is a great book that can be read for fun by anyone to understand how markets work in real life. To bring the story up to date and show how economists think about contemporary policy issues, I’d complete the list with Economics for the Common Good by Jean Tirole – a long but profitable read.

What’s the greatest book on economics ever written?

It is unoriginal to say so, but The Wealth of Nations by Adam Smith is peerless.

What is the book that you feel has had the single biggest impact on your life? What impact did it have?

Certainly, The Great Transformation by Karl Polanyi has had the greatest impact on my thinking. His idea that markets are not self-standing and that they are always embedded in social-moral structures is a very powerful one that continues to shape my work.



Daron Acemoglu

Which book has had the biggest impact on your career so far? How did it impact it?

Structure and Change in Economic History by Douglass North, which crystallized many of the questions that had motivated me to get into economics in the first place and convinced me that these questions are not just interesting but also open for research.

Which three books would you recommend for a complete novice who wants to learn about economics?

This is a really hard question. People coming with different backgrounds would benefit most from different books. So let me pick three books that would appeal to people with varied backgrounds and interests:

The Strategy of Conflict by Thomas Schelling would provide an exciting introduction to issues of conflict, cooperation and strategic interactions without requiring a technical background.

Why Nations Fail: The Origins of Power, Prosperity and Poverty by James Robinson and myself, would be a good introduction to how economics, together with political factors, is useful for thinking about the long-run economic development (or lack thereof) of nations. But of course, I’m biased.

Levers of Riches by Joel Mokyr is an excellent introduction to the history of technology and the economics of the British Industrial Revolution, which would be ideal for people who want to understand the historical development of Western economies.

What’s the greatest book on economics ever written?

The Wealth of Nations by Adam Smith is unrivalled.