My end of week morning train WFH reads:
• The Forever Virus: A Strategy for the Long Fight Against COVID-19 The virus behind the COVID-19 pandemic is not going away. SARS-CoV-2 cannot be eradicated. Among humans, global herd immunity, once promoted as a singular solution, is unreachable. Most countries simply don’t have enough vaccines to go around, and even in the lucky few with an ample supply, too many people are refusing to get the shot. (Foreign Affairs)
• College athletes can finally profit off their celebrity. The lifting of NIL restrictions, as they are called, is likely to transform the college sports landscape, allowing individual athletes to earn money by signing endorsement deals, appearing in commercials, hosting their own camps and clinics and in other ways — all things that the NCAA has long forbidden. (Washington Post)
• Ron Burkle Owns Neverland, But His Collection of Homes Extends Far Beyond Michael Jackson’s Ranch The 2,700-acre Los Olivos, Calif., estate might be his most famous, but the billionaire investor has a cache of homes including Greenacres in Beverly Hills and a volcano-inspired house in Palm Springs. A look at some his most notable properties (Wall Street Journal)
• The ‘Juice Man’ and the Drug Scandal That Rocked Horse Racing After thoroughbreds started winning at suspicious rates, investigators stepped in. Eventually, 29 people would be indicted in a multimillion-dollar scheme to defraud bettors. (Businessweek)
• Ben Graham: Just Plain Lucky? Graham’s fund’s $712,500 investment in GEICO turned to more than $400 million in 25 years. In Peter Lynch parlance, Graham had hit upon a 500 bagger! (Safal Niveshak)
• Treasury Yields Signal Investors’ Waning Economic Exuberance Yield on 10-year note fell roughly a quarter-percentage point in second quarter as traders scaled back expectations for fiscal and monetary stimulus (Wall Street Journal)
• Microsoft CEO Satya Nadella on the business of Windows Microsoft wants to make Windows 11 more flexible and open. Microsoft is opening up the Windows app store, allowing developers to put more kinds of apps in the store, and it’s allowing developers to bypass the fees in the store if they want to use their own payment systems. (The Verge)
• Why some biologists and ecologists think social media is a risk to humanity Researchers who specialize in widely different fields, from climate science to philosophy, make the case that academics should treat the study of technology’s large-scale impact on society as a “crisis discipline.” A crisis discipline is a field in which scientists across different fields work quickly to address an urgent societal problem — like how conservation biology tries to protect endangered species or climate science research aims to stop global warming. (Vox)
• How to Spot a Cult According to Amanda Montell’s new book, “Cultish,” the jargon and technical language of fanaticism is surprisingly common. (New Republic)
• The motions of 66 nearby galaxies have now been reliably measured. Not stars. *Galaxies* Everything in space moves. Planets orbit stars, moons circle planets, stars orbit inside galaxies. Even galaxies themselves — those immense structures of billions of stars, gas clouds, dark matter, and dust — all move through space, their trajectories determined by the force of gravity of other galaxies around them. (Syfy Wire)
• Why the Pentagon Can’t Identify Flying Objects And when they do, they’re still not gonna tell you. (Slate)
Be sure to check out our Masters in Business interview this weekend with Steve Romick, Managing Partner at FPA, which manages $26 billion in equity, fixed income, and alternative strategies. Romick manages the $11 billion FPA Crescent Fund since its 1993 inception and was named Morningstar’s U.S. Allocation Fund Manager of the Year.
Let the Market Fix Labor Shortages
Source: Bloomberg
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