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Harrison Hong’s a highly regarded 37-year-old professor of economics and finance at Princeton University. He’s written articles with titles like “A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets” and “Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization” — light summer reading, perfect for the pool. But this morning, he gets his balls busted in a Joel Stein column in The Los Angeles Times, as Stein asks Hong where he ought to invest his hard-earned before another bubble goes busto.
We considered other possible overheated sectors: nuclear power plants, biotechnology and wine. Then Hong suggested sustainable suburban agriculture, explaining that his dad in Dallas was learning how to raise chickens and make moonshine. Which then made me consider investing in the upcoming, ratings-blockbuster, Dallas episode of Cops.
I had no idea Harrison Hong’s father was Jim Schutze. –Robert Wilonsky
