Roman Novy-Marx

Casting around for culprits, leaders in the party blamed their candidates, the government shutdown

The University of Chicago ran budget deficits for 14 years straight, spending big on new labs, dorms and technology to raise its profile and enrollment. Now it’s facing a financial reckoning

If Nike announced that they were opening a hotel, you’d have a pretty good guess about what it would be like. But if Hyatt announced that they were going to start making shoes, you would have NO IDEA WHATSOEVER what those shoes would be like. That’s because Nike owns a brand and Hyatt simply owns real estate.