A few items to usher in the weekend...
- As we wrote on Wednesday, calling February home sales "improved" required either breathtaking innumeracy or outright dishonesty. Barry Ritholtz agrees.
- Yesterday we pointed you to Roger Gibson's discussion of strategic asset allocation, one characteristic of which is the assumption of roughly normal/Gaussian distributions. Nassim Taleb sees power-law distributions instead, and this is a distinction with a difference.
- Yale's David Swensen holds forth on money management. You watch. And listen. Via Mebane Faber.
- More from Faber on the asset allocation discussion: "The Volatility of Correlation."
- This is a great presentation of current economic data, trends, and historical norms. From Russell Investments, via Barry Ritholtz.