My morning train WFH reads:
• Small Businesses Brace for Prolonged Crisis, Short on Cash and Customers: Hopes for a quick economic recovery from the coronavirus pandemic have been dashed, and companies are exhausting rescue funds. Many are shutting down or slashing jobs again. (Wall Street Journal) see also With Indoor Dining Upended, Some Restaurants Call It Quits: After withstanding months of coronavirus restrictions, eateries are closing as pandemic cases surge (Wall Street Journal)
• Eight Timeless Buffett Contributions That Go Beyond Returns & Bind Shareholders: investing ideas and principles that Buffett has continuously espoused over the years that have contributed to developing a trust and commitment from investors that is probably unrivaled in the world of investing today (Validea)
• Will Climate Change’s Rising Seas Drown Real Estate, Insurance? Investments in them could end up in Davy Jones’ locker if the ocean swallows the coastlines. (CIO)
• The U.S. Is on the Verge of Lockdown 2.0: Governments will have no choice but to ban behavior that spreads Covid-19. The public will do the rest by shutting in again. (Bloomberg) see also Increased Consumer Interest in May Correlates with COVID-19 Hot Spots in June: Many businesses that eagerly reopened doors in June were forced to scale back operations and in some cases even shut down again (Yelp Economic Average)
• Coaching is The Most Overlooked Career Hack: What coaching costs, how it works, and who’s getting it in asset management. (Institutional Investor)
• Twitter Security Must Improve: Twitter and companies like it are essential to the functioning of the economy and the country. All need to do a better job on security. (The Atlantic)
• Facebook is taking a hard look at racial bias in its algorithms: Following a rocky civil rights audit, Facebook is creating teams to make its platforms work better for everyone. (Vox)
• 76% of American voters can cast ballots by mail this election: As of now, nearly 180 million Americans who are eligible to vote would be able to cast a ballot by mail (Washington Post)
• Federal agents are snatching protesters off the streets of Portland. These companies are profiting. (Popular Information) see also Nothing Can Justify the Attack on Portland: The question of whether these arrests are appropriate has a clear answer—at least in a nation that purports to live under the rule of law. (The Atlantic)
• Inside college football’s coronavirus information war: “I’ll be shocked if we have NFL football this fall, if we have college football. I’ll be so surprised if that happens.” (AL.com)
Be sure to check out our Masters in Business interview this weekend with David Enrich, Finance editor at the New York Times. He is the author of The Spider Network about the LIBOR scandal; his new book is “Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction.”
The world’s wealth is looking increasingly unnatural
Source: Economist
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