My morning train WFH reads:
• No, the Stock Market is Not Rooting for Trump or Biden: Research back to the 1860s, when the two-party political system began to dominate, shows that the market has no clear bias in favor of either party and that market volatility in the run-up to an election is perfectly normal (New York Times)
• How Nikola Stock Got Torched by a Short Seller: Report by Nathan Anderson’s Hindenburg Research alleging improprieties sent electric-truck startup’s shares plunging (Wall Street Journal)
• The extremely profitable (and ethically murky) business of reselling dumbbells: Dumbbells are impossibly expensive right now, thanks in large part to resellers taking advantage of a shortage. (Vox)
• The Size Effect Didn’t Disappear. It Never Existed: The more academics searched for proof that small companies tend to beat bigger ones after adjusting for risk, the less they found. (Bloomberg)
• The math of New York City’s recovery: New York City is suffering its worst year in decades. The years to come, partly as a result, could be some of its very best. (Axios)
• 33 Things I Stole From People Smarter Than Me: I can tell you two things with confidence. One, I’m living the life I want to live. And two, I’m able to do so in part by ruthlessly stealing secrets from people who are smarter than me. (Medium)
• The N95 shortage America can’t seem to fix: Nurses and doctors depend on respirator masks to protect them from covid-19. So why are we still running low on an item that once cost around $1? (Washington Post)
• A Rocket Mogul Is Preparing to Launch a Union of U.S. and Soviet Technology: Firefly Aerospace is seeking a niche below SpaceX’s jumbo rockets, while owner Max Polyakov faces some awkward questions. (Businessweek)
• ‘You can’t own an idea’: Attempt to patent a baseball stat surprises community: An outfit called Quality of Pitch had received a patent on their metric, as they presented it. The response was fairly immediate and unwelcoming. (The Athletic)
• In Montana, the Art of Crafting Fly-Fishing Rods: I walk in and take a good look around. It’s a place with lots of moving parts, where craftsmen make reel seats from rosewood, inscribe calligraphy with gold ink, and wrap shiny agate guides on bamboo, using garnet thread and extra fine brass wire. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Pedro Earp, Chief Marketing Officer at AB InBev as well as the director of the company’s Venture Capital fund, ZX Ventures Officer. AB InBev is the world’s leading brewer, selling about ~1/4 of all beer around in the world beer in more than 150+ countries with such brands as Budweiser, Corona, Stella, Becks, Hoegarden, Modela, and 100s others.
Wall Street Commodity Traders Head for Best Year in a Decade
Source: Bloomberg
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