To better control for risk, we construct a novel machine learning based value factor and find that it outperforms existing value factors while earning less from risk and more from mispricings.

The result is a loophole, allowing the entire auto industry to sidestep some of the more painful efficiency requirements by inflating vehicle footprints. And historically, drivers almost always lean toward larger vehicles. “In general, if everything else about the vehicle is the same, consumers prefer the bigger one, with the roomier interior,” says Kate Whitefoot, a senior program officer at the National Academy of Engineering and the lead author of the paper (she was a doctoral student at the time of the study). Combine a regulatory loophole with a built-in, well-known customer choice, and the industry lurches towards the inevitable: larger models and more light trucks.

Cryptocurrency funding rates across major exchanges. Both current funding rate and predicted funding rate. Normalized on various intervals: 1 hour, 8 hours, 1 day, 1 year.

a high carry predicts future crypto price crashes. They further imply that there is “excess volatility” of crypto futures relative to spot prices, i.e. our estimates imply that changes in futures prices are about ten times more volatile than changes in spot prices
the crypto futures basis tends to be elevated when smaller entities seek leveraged upside exposure.

This work thus provides strong empirical evidence towards developing scaling laws for reinforcement learning.

The first countries to set national mandates amid the coronavirus crisis were Vietnam and the Czech Republic, in mid-March

We document return predictability from deep-learning models that cannot be explained by common risk factors or limits to arbitrage.

For the first time he gave serious indications that he was considering a career in politics. Not as mayor or governor or senator.

Trump was thinking about running for president.

a strong positive effect of debt refinancing risk, as measured by refinancing intensity, on excess bond returns in the subsequent year, supporting the rollover risk channel

“These people don’t have steady jobs or income in Canada,” he alleged, “but what they are doing is scams to launder money, and get mortgages using fake documents.”

Donald Trump’s 2016 victory was widely explained as a working class revolt against despair, deindustrialization, or neoliberalism. But broadly-shared prosperity under Biden hasn’tt reduced Trump’s support at all, showing his appeal was always social.

“In territories adjacent to Russia, which I have to note is our historical land, a hostile ‘anti-Russia’ is taking shape,” Putin said in another address ahead of the invasion. “For our country, it is a matter of life and death, a matter of our historical future as a nation.”

Mike Johnson and AiG beliefs

Johnson has effusively praised Ark Encounter as “a strategic and really creative … way to bring people to this recognition of the truth that what we read in the Bible are actual historical events.”

Johnson also shares with AiG’s Ham that government should not intervene when it comes to global warming, particularly given that, like Ham, he does not believe “that the climate is changing because we drive SUVs.”

He also shares with the folks at AiG the conviction that belief in evolution results in immoral behavior. For example, Johnson has blamed school shootings on the fact that “we have taught a whole generation … of Americans that there is no right and wrong. It’s all about survival of the fittest, and you evolve from primordial slime,” and so “why is that life of any sacred value?”

The Department of Motor Vehicles indefinitely suspended Cruise from operating in California on Oct. 24, alleging that the company didn’t immediately disclose that the robotaxi tried to pull over after striking the pedestrian. Cruise fired nine executives, and its CEO resigned. The company paused its driverless operations across the U.S. Cruise lost $3.48 billion in operating costs in 2023 and laid off 24% of its staff. Multiple federal and state agencies, including the U.S. Department of Justice, are investigating the company.

The Canadian government is underestimating the number of new homes needed to address a spiraling affordability crisis by about 1.5 million units