My back to work morning train WFH reads:
• The Social-Media Stars Who Move Markets Young investors are turning to a new generation of stock pickers—many without formal training—for advice. For these would-be Jim Cramers, staying popular means never criticizing a meme stock. (Wall Street Journal)
• On the Road, Again: In an uncertain post-vaccine landscape, musicians and other touring professionals are feeling the elation—and anxiety—of getting back to work. (Pitchfork)
• Some thoughts on CryptoPunks If I were able to bet on the market cap of NFTs collectively falling by 50%, I’d take that bet, but I wouldn’t underestimate the community aspect of certain projects. There’s something special going on here, and nobody wants to be the person that lists below the current floor price. Once that happens, then the speed at which prices decline will be breathtaking. (Irrelevant Investor)
• Why Would an Economist Ever Look on the Bright Side? For Wall Street, and the dismal science as a whole, trouble is around every corner even as the economy booms. (New York Times) see also How to Fix Economic Inequality? An Overview of Policies for the United States and Other High-Income Economies For decades, a gap has been growing between the rich and poor in advanced economies, especially the United States. Then the coronavirus pandemic struck. (Peterson Institute for International Economics)
• These Millennials Are Dumping Their Jobs to Plot New Careers With several years in the workforce and some savings, some young professionals take an early career break to reassess and chart a different path. (Wall Street Journal)
• What I learned visiting two cutting-edge Amazon grocery stores Grocery stores have reason to worry as Amazon invades their industry. (Full Stack Economics)
• After Years of Failure, California Lawmakers Pave the Way for More Housing To ease an affordability crisis, the Legislature voted to open suburbs to development, allowing two-units on lots long reserved for single-family homes. (New York Times)
• Why Is It So Hard to Be Rational? The real challenge isn’t being right but knowing how wrong you might be. (New Yorker)
• TikTok, Reddit, and Facebook are killing ppeople with Ivermectin misinformation Like other false cures, the drug is highlighting the misinformation problem on social media. (The Verge)
• Want to find Planet Nine? Here’s a treasure map. For the past twenty years or so a growing number of astronomers think that there may be another large planet in our solar system well beyond Neptune. Nicknamed Planet Nine*, its existence is inferred from the behavior of a group of icy bodies that orbit the Sun out there as well. (Syfy Wire)
Be sure to check out our Masters in Business interview this weekend with Joan Solotar, Blackstone’s Global Head of Private Wealth Solutions. PWS manages over 100 billion dollars of the private equity giant’s $684 billion in assets. She has been named to Barron’s 100 Most Influential Women in US Finance list.
Investors Are Running Scared From China’s Stocks
Source: Barron’s
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