- We all know about the cost of inbreeding.
- As a result it is generally accepted that species should outbreed as much as possible – but did you know there is a cost of outbreeding as well?
- “To produce healthy children, you should marry a third or fourth cousin. Farther out, the genetic costs of outbreeding begin to outweigh those of inbreeding. That was what a cohort study found in examining Icelanders born between 1800 and 1964. Fertility was lower if the woman’s husband was either closer in or farther out (Helgason et al. 2008).“
Misc
Miscellaneous is often where the gems are.
Animals
- Amazing article on the human impact on animals.
- “We breed and kill at least 100 billion animals per year for food and at least 115 million per year for research. Fishing kills 1-3 trillion animals per year. Deforestation destroys animal habitats. Leaf blowers and light pollution kill insects. Building and vehicle collisions kill at least a billion animals per year. This year, more than 300 birds were injured or killed in collisions with a building in North Carolina in a single night.“
Are the 1% happier?
- Interesting survey from NPR/RWJF/Harvard cited in Washington Post.
- It oversampled those in the top 1% of income distribution and asks about life satisfaction.
- Money does (at least to the $500,000 threshold) correlate to happiness.
- More survey questions in the article.
Latest Howard Marks
- Latest memo from OakTree’s Howard Marks.
- A really interesting read especially in the parallels between investing and gambling.
- A must read.
Cancer Mortality Rates
- New stats from the US Cancer Society show that between 1991 and 2017 the mortality rate of cancer has dropped 29%.
- According to the report, this was due to lower smoking rates, improved early detection methods and advances in treatment.
- This trend means more than 2.9m lives were saved since 1991.
- Really amazing.
Dishwashers
- Interesting article about what has been going on with dishwashers.
- In summary they have gotten a lot worse.
- In order to reduce water use from the original 15 gallons to 3 gallons, cycle times have increased. The chart (source) is striking.
- The wash results have also gotten a lot worse due to chemical regulation.
- Consumers think that by buying a newer model these problems will be solved but the reality is that an older model will do a better job.
PE getting into VC
- Increasingly private equity (PE) are getting involved in venture (VC).
Best CV Ever
Best Letter of Recommendation Ever
Hedge Funds
- 5th consecutive year of Hedge Funds closing.
- We previously wrote about lack of overall fund launches.
Failure
- It is always important in investing to learn from failure.
- The verge have produced a list of 84 of the last decade’s tech failures.
- Enjoy and learn!
2019 Snippet Wrap Part 2
- Most read Snippets of 2019.
- Woodford’s demise was a big deal for the fund management industry but, despite press, was foreseen by many.
- Business tactics in unlikely places.
- Knight Frank Luxury investment index component returns.
- US Government Deficits are going in the wrong direction.
2019 Snippet Wrap Part 1
- A series of the most popular snippets of 2019
- The cost declines of renewable energy compared to conventional energy generation has started to flat line.
- Real assets are at an all-time low against financial assets.
- Tech change is exponential.
- Fertility rates by education is a shocking stat.
Druckenmiller Interview
- Good interview with the always interesting Stanley Druckenmiller.
- Druckenmiller managed money for George Soros between 1988 – 2000 and was closely involved with the latter’s famous hedge fund bets.
- He discussed monetary policy and the upcoming US election.
Last Minute Christmas Gift?
- Looking for that last minute Christmas present?
- How about a subscription to The Browser.
- The Browsers sends you a daily email with five recommended articles on every imaginable topic.
- As an investor it is important to broaden one’s reading as wide as possible. This Browser gives you just that.
- Good curation is the hardest part of the internet, something Snippet stands for as well.
Country Stats
- Charts shows the distribution of countries by various statistics.
- Interesting to see who is top and bottom – try guess before you look.
- The categories are – Mortality rate of children under the age of 5, life expectancy, mean years of schooling, expected years of schooling, average income.
Air Pollution
- Great post showing how air pollution is detrimental to intelligence.
- Chess players make more mistakes on polluted days: “We find that an increase of 10 µg/m³ raises the probability of making an error by 1.5 percentage points, and increases the magnitude of the errors by 9.4%.
- World Bank air pollution data can be found here.
- Interestingly pollution has been declining, but 45% of the global population is still exposed to levels above those recommended by WHO.
Dave
- Shocking stat that there are more men named Dave in the fund management industry in the UK than there are women.
List worth reading (2019)
- We previously mentioned this really interesting list.
- The 2019 version is out and is equally awesome. 52 gems.
- Highlights:
- Spotify pays by the song. Two three minute songs are twice as profitable as one six minute song. So songs are getting shorter.
- Nigeria spends more on petrol subsidies than on health, or education, or defence.
- The goal of walking 10,000 steps per day may have originated when a Japanese pedometer manufacturer noticed that the 万 symbol (which means 10,000) looks a little like someone walking. The actual health merits of that number ‘have never been validated by research.’
- Asking ‘What questions to do you have for me?’ can be dramatically more effective than ‘Any questions?’ at the end of a talk.
- All references and related articles found in the link. h/t Fluxx Studio Notes.
Top Media Franchises
- Do you think you can name the top 25 media franchises of all time?
- Full list can be found here and image below shows the top 10.
- h/t Visualcapitalist.