My Two-for-Tuesday morning train WFH reads:
• A Clear-Cut Biden Win Is Emerging as a Bull Case for Stocks: Fears over a contested election have recently rattled markets, as Biden added to his lead in the polls after last week’s debate (Bloomberg) see also Markets Were Already Braced for Chaos—and Then Came the Diagnosis: Traders worried about the election have been buying hedges against volatility (Businessweek)
• Doomed to fail: Why a $4 trillion bailout couldn’t revive the American economy An avalanche of U.S. grants and loans helped the wealthy and companies that laid off workers. Individuals received about one-fifth of the aid. (Washington Post)
• The First Female Recession Threatens to Wipe Out Decades of Progress for U.S. Women: The pandemic has erased years of economic gains for women and is poised to leave lasting economic scars (Bloomberg) See also In September, the year-over-year change was negative 9.65 million jobs. The current employment recession is by far the worst recession since WWII in percentage terms, and is still worse than the worst of the “Great Recession”. (Calculated Risk)
• The technology that powers the 2020 campaigns, explained: Microtargeting, data collection, and other tactics for winning your vote have come a long way since 2016 (MIT Tech Review)
• Absolute Success is Luck. Relative Success is Hard Work. Luck matters more in an absolute sense and hard work matters more in a relative sense. (James Clear) see also Luck and Success: Every successful person can thank luck for playing at least some role in their life (Irrelevant Investor)
• Mother’s Little Helper Is Back, and Daddy’s Partaking Too After the kids go to bed, the grown-ups are drinking and smoking pot to distract themselves from the hellscape that is pandemic parenting. (New York Times)
• Movie theaters are struggling to survive the pandemic. Many won’t: The US movie theater industry has been clinging to the hope that a future blockbuster would save its devastated business. But with Regal Cinemas’ plans to suspend operations again, it’s clear that 2020 is likely over for the movies (CNN) See also Amid film delays and movie theater closings, can Hollywood be saved? Almost 70 percent of small and midsize movie theater companies could be forced to file for bankruptcy protection or close permanently. (NBC)
• Trump’s Taxes Give Biden Blueprint to Fix System Rigged for Rich: The wealthy have endless ways to game the rules, and little to fear from an understaffed IRS. (Businessweek)
• Trump’s ex-national security adviser says president is ‘aiding and abetting’ Putin: H.R. McMaster’s warning represents perhaps his harshest public criticism of the president since the retired general was ousted from the White House in 2018.(Politico) see also Russian operation masqueraded as right-wing news site to target U.S. voters: The Russian group accused of meddling in the 2016 U.S. election has posed as an independent news outlet to target right-wing social media users ahead of this year’s vote (Reuters)
• The Special Place Where Ella Fitzgerald Comes Alive: The singer’s concert recordings have always had a power that her studio outings could only imply. “Ella: The Lost Berlin Tapes,” a newly unearthed 1962 performance, magnifies her legacy. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Dave Portnoy, founder of Barstool Sports, now part of publicly traded Penn National Gaming. He is known for not only sports related content, but his reviews every pizza place in NYC (“One Bite With Davey Pageviews).” When live sporting events and gambling got cancelled, he became “Davey Day Trader,” inspiring an “Army of Day Traders.”
S&P 500 Dividends Show How Slow and Steady Wins the Race
Source: Bloomberg Radio’s Dave Wilson
