Welcome to the Macro Hive Blog Awards 2019. We thought it was time macro bloggers got their due recognition. So many great thinkers beaver away in forgotten corners of the economics and markets web with little in the way of reward. But we believe that what they produce can be as insightful as anything found in banks or academia. And in fact, some are from those very institutions themselves but simply find the blog format more liberating to write in. We hear you!
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Welcome to the Macro Hive Blog Awards 2019. We thought it was time macro bloggers got their due recognition. So many great thinkers beaver away in forgotten corners of the economics and markets web with little in the way of reward. But we believe that what they produce can be as insightful as anything found in banks or academia. And in fact, some are from those very institutions themselves but simply find the blog format more liberating to write in. We hear you!
But not all bloggers are equal, of course. The ease of establishing a blog means no restrictions on who is writing and on what – there’s just no quality control. Enter Macro Hive. Regularly analysing thousands of blogs, we know the quality from the mediocre – the sublime from the ridiculous. So, here’s our selection of the best bloggers on economics and markets in 2019, in no particular order:
• A Wealth of Common Sense. Ben Carlson is Director of Institutional Asset Management at Ritholtz Wealth Management. And what we like about his blog is that he writes for investors. He shares lessons from other great investors, too, provides useful stats on market returns, and writes in a clear and succinct manner. Here’s an example on market crashes.
• Conversable Economist. Managing Editor of the Journal of Economic Perspectives, Timothy Taylor, is somehow able to write on three or four meaty macro topics a week. This can range from the share of veterans among prime-age men to environmental economics. Take a look at his piece on defining populism.
• Stratechery. This has to be our favourite tech blog. Not only does Ben Thompson cover today’s biggest themes, he provides a framework to do so – most notably his aggregation theory of platform companies. Maybe it’s because he’s based in Taiwan that his perspective is so unique. Check out his piece on Shopify and platforms.
• Mish Talk. Mike “Mish” Shedlock is an investment advisor for SitkaPacific and a popular blogger on all things macro. He is higher frequency than most and provides useful updates on important data points. He also flags relevant political news, too. For a taster, read is piece on why productivity is falling
• Ed’s Blog. Ed Yardeni of Yardeni Research has been making big stock market calls for as a long as we can remember. He tends to be bullish, which makes a nice counterpoint to the bears. Check out his “four Ds” explanation of western deflation: Disruption, Debt, Demographics, Détente.
• EconLife. That Elaine Schwartz has a teaching background makes this blog especially instructive. She links theory to real world instances and segments her pieces by schools of economic thought. We liked her piece exploring how the US economy has fared historically under Democrats vs Republicans.
• Money and Banking. Academics Stephen Cecchetti and Kermit Schoenholtz maintain this excellent blog on the financial system. Not only do they write on issues of the day, they also provide primers on key macro and financial matters. Take, for example, their primer on bank capital.
• The Big Picture. Barry Ritholz sends out a regular list of good reads – and we always find something interesting on it. He also finds greats charts and has a keen eye on developments in the active vs passive asset management debate. Have a read of his piece on deceiving yourself in markets.
• Marginal Revolution. Through this blog, Tyler Cowen has become one of the most popular economists in the business world. Part of the reason why is that he’s not afraid to sing the praises of big business (he even wrote a book on it). But the main draw of the blog is his daily selection of interesting articles on economics. For example, check out his featured analysis on a wealth tax.
• Naked Capitalism. Run by nine bloggers including economists and investment bankers, this blog selects the best articles from around the web on economics and politics. The team lean towards picking pieces that criticise government officials and official media claims. Here’s one of their recent picks on why the iPhone is widening the US trade deficit with China.
And that’s the lot! Do you have a favourite? Perhaps you’re a regular reader of one that’s not on our list and think it should have earned a spot. Let us know! We’re always on the lookout for new voices.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)