My mid-week morning train WFH reads:
• The Pandemic Is the World’s Long Overdue Reality Check: Populists came to power peddling political fantasies—but the coronavirus has broken the fever. (Foreign Policy)
• Retired and want to try day trading? Read this first: the overwhelming pattern is for them to eventually lose much of their winnings. (Marketwatch)
• The lives upended around a $20 cheeseburger A cash-strapped rancher, a virus-stricken meatpacker, an underpaid chef, a hungry engineer: The journey of a single burger during a pandemic (Washington Post)
• Stock Markets Are Flat. Infections Have Spiked. Which Do Investors Care More About? A month ago, optimistic views from institutional investors feeling ever more upbeat about the economy’s trajectory. That was before the new surge of Covid-19 (Institutional Investor)
• Economists Think Congress Could Create An Economic Disaster This Summer: a refusal by Congress to extend unemployment benefits or bail out state and local governments is just as likely to hurt the economy as local economies staying open in spite of COVID-19 spikes — or even closing because of the virus. (FiveThirtyEight) see also The Economy Is Not Going Back to Normal: DC will have to try to keep things afloat. Again. (Slate)
• In Los Angeles, an Economy Built on Freelancers Crumbles: Creative workers with multiple gigs are among the worst hit by the recession and face long roads to recovery (Wall Street Journal)
• The Slack Social Network: On the business, strategy, and impact of technology. (Stratechery)
• How to Tell If You Live in the Suburbs: The U.S. hasn’t had a formal definition for what constitutes a suburb. A new data analysis comes closer to defining America’s most popular neighborhood type. (Bloomberg)
• Black Lives Matter protests did not cause an uptick in covid-19 cases: the available evidence suggests that this month’s protests have not contributed to a surge in covid-19 cases. (Economist)
• What do Thomas Jefferson, a mastodon skeleton and Alexander von Humboldt have in common? The answer is locked inside the Smithsonian. (Washington Post)
Be sure to check out our Masters in Business with Bill Miller of Miller Value Partners, which manages $2 billion in client assets. Miller is best known for running Legg Mason’s Capital Management Value Trust, whose after-fees returns beat the S&P 500 index for 15 consecutive years from 1991 through 2005.
1 year percentage change of the top 10 most valuable companies, vs Tesla
Source: Reddit
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