After seeing
NYT: The New Global Wealth Machine and
WSJ: SWFs May Not Be as Rich as They Look

I am now convinced that Singapore has the biggest Sovereign Wealth Funds in the world.

In an email to a friend:

Overcoming Bias: article

I just came across this. By golly it brings me relief. I've recently been becoming more agnostic and yet maintaining the same level of opinionation, and I was afraid of an impending conflict between the two. The ideas in this blog entry relieve that conflict.

Modern Portfolio Theory is parametrized by cross-correlations between asset classes. Is there any reason to believe that those cross-correlations are structural and policy independent? What is the simplest model one can use for portfolio diversification that addresses the Lucas Critique?