10 Friday AM Reads

My end of week morning train WFH reads:

Barack Obama: My Eulogy for Congressman John Lewis: I’ve come here today because I, like so many Americans, owe a great debt to John Lewis and his forceful vision of freedom (Medium) see also John Lewis: Together, You Can Redeem the Soul of Our Nation: Though I am gone, I urge you to answer the highest calling of your heart and stand up for what you truly believe. (New York Times)
Henry Blodget Was Banned From the Financial Industry. So He Built a Financial Media Empire. The former analyst speaks from firsthand knowledge of the short-term mind frame on Wall Street — a mind frame he rejected in the creation of Business Insider. (Institutional Investor)
How a taxi kingpin’s real estate deals turned into a wreck: Victor Weingarten and partner Simon Baron Development are facing foreclosure on their UWS rental building (Real Deal)
Are Index Funds The Best Way To Invest? Over the last 20 years, 59% of all stock mutual funds did so badly they disappeared. Only 22% of all stock funds (2 in 10) outperformed.  (Servo Wealth Management)
The Grifters, chapter 1 – Kodak: A $765 million in non-recourse, non-secured loans for pharmaceutical supply production to a micro-cap company with zero experience or expertise in pharmaceutical supply production (Epsilon Theory) see also What happened before Kodak’s moment: The once iconic American brand valued at $30 billion, it filed for bankruptcy in 2012 and emerged in 2013. I has been in dire straits ever since. (Popular Info)
That Flour You Bought Could Be the Future of the U.S. Economy: Keep baking bread. Small grain companies may suggest a better path for American business. (New York Times)
Misinformation on coronavirus is proving highly contagious: As the world races to find a vaccine and a treatment for COVID-19, there is seemingly no antidote in sight for the burgeoning outbreak of coronavirus conspiracy theories, hoaxes, anti-mask myths and sham cures. (AP) see also The truth about vaccines: Why is one of the most effective medical interventions known to humanity regarded with such mistrust? (UnHerd)
You Can Blame ‘Load Theory’ for Turning Your Brain to Mush: A neuroscientist explains why we’re so easily distracted right now. (Businessweek)
Swinging the Vote? Google’s black box algorithm controls which political emails land in your main inbox. For 2020 presidential candidates, the differences are stark (The Markup)
Folklore, Taylor Swift’s New Album: Folklore applies Swift’s signature lyrical style — richly and carefully detailed, rife with knowing callbacks — to a new palette. Skittering instrumentation proves a match for Swift’s use of speak-song cadence; meditative piano and horns offer a cinematic soundscape for explorations of character that move beyond autobiography (NPR)

Be sure to check out our Masters in Business interview this weekend with Simon Hallett, Co-CIO at Harding Loevner, which manages about $70 billion dollars. Hallett is also the owner of Plymouth Argyle Football Club, a League One team based in the city of Plymouth, Devon, England.


The market value of an industry is very inconsistent with its contribution to GDP

Source: @PeterMallouk


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