Bear Caves, Mutinies and Brain Drains

(Bloomberg View) -- My Barcelona welcome-to-the-fourth-quarter morning reads:

• The Kindest Quarter Arrives for a Stock Market That Nothing Can Rattle (Bloomberg)
• Bears, Return to Your Caves — at Least for Now: High valuations alone don't cause bear markets. There must be other factors, too. And the biggest concerns probably won't arise in 2017. (Barron's)
• No Inflation? Technology May Have Left It in the 20th Century (Wired)
• U.S. Climate Change Policy: Made in California: A peculiar confluence of history, legal precedent and defiance has set the stage for a regulatory mutiny in California that would reverberate throughout the country (New York Times)
• The typical U.S. family was richer in 1998 (Alphaville)
• An investing legend who has nailed the market at every turn just got even more bullish on stocks (Business Insider)
• Electric Car Mania Proves Sum of Parts Is Sometimes Greater (Bloomberg Businessweek)
• Trump Has Started a Brain Drain Back to India (Foreign Policy)
• The claims of anti-immigrant hysterics are disproved — again (Washington Post)
• Blade Runner 2049: our spoiler-free review (the Verge)

Be sure to check out our Masters in Business interview with Ranji Nagaswami, chief executive officer of Hirtle Callaghan, which helped popularize the idea of the outsourced chief investment officer. Previously, she was CIO of AllianceBernstein Investments.

Long-dated treasury ETF receives largest inflow on record

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This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”

To contact the author of this story: Barry Ritholtz at britholtz3@bloomberg.net.

To contact the editor responsible for this story: Brooke Sample at bsample1@bloomberg.net.

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