My mid-week morning train WFH reads:
• What’s in the $1.2 trillion Senate infrastructure package? The bipartisan bill includes $550 billion in new investments in roads, bridges, broadband and more. It is widely expected to create a lot of jobs. (Washington Post)
• Diversifying Your Portfolio Isn’t Zesty, But It Works Forget about multiplying money 10 times in a short period and stick with the steady gains. (Bloomberg) But see also Is an Equal-Weighted Stock Index Better Than a Tech-Heavy One? Nope, says Northern Trust’s asset management unit. But they both have big drawbacks. (Chief Investment Officer)
• Hackers Steal $600 Million in Likely Largest DeFi Crypto Theft; Hackers perpetrated what is likely the biggest theft ever in the world of decentralized finance, stealing about $600 million in cryptocurrency from a protocol known as PolyNetwork that lets users swap tokens across multiple blockchains. Security researchers are trying to track down the attackers as they have begun moving the funds to decentralized exchanges. (Bloomberg)
• Magic beans Imagine the chutzpah it takes to say to yourself that you know definitively what the global economy is going to look like in six months. Now imagine thinking you could take this certainty about the future and use it to predict exactly which investment markets would rise and fall as a result – so not only can you see the economy’s future, but you can predict how all of the other investors will react to it! Now imagine saying you could do this sort of thing consistently, out loud in front of other people. Now imagine charging them money for it. At this point, you’re selling magic beans. A talking dog. A singing frog. A goose that lays golden eggs. You’re a medicine show. (Reformed Broker)
• Plant-Based Fish Is Rattling the Multibillion-Dollar Seafood Industry Beyond and Impossible showed the potential for plant-based proteins. Now tomatoes are coming for tuna (Businessweek)
• How ‘The Pet Revolution’ Unleashed A New Top Dog In America Dogs have come a long way since the days when they were put to work on farms and fed scraps. They’ve even come a long way since just a few decades ago when they spent their nights in the doghouse. Dogs now sleep inside on orthopedic beds. They get top-notch healthcare and visits to psychiatrists who prescribe them antidepressants. They see acupuncturists and psychics. They get massages and spa days. They wear sweaters. (NPR)
• When Amazon Customers Leave Negative Reviews, Some Sellers Hunt Them Down Don’t share personal information in reviews or with Amazon sellers; save messages in case you decide to report them. (Wall Street Journal)
• Why Can’t Anti-Vax Athletes Just Tell the Truth? Dissecting the many bogus reasons sports stars are sabotaging the fight against COVID-19 (Inside Hook)
• Andrew Cuomo Resigned Because the Democrats Aren’t a Cult Normal political parties can police their own. The obvious answer is that at the current moment the Democrats are a political party, while the Republicans are a personality cult. (The Bulwark)
• The Perseids peak this week! Here’s how to watch one of the best meteor showers of 2021 The sky is falling! Or it will on the evening of August 12/13, when the Perseid meteor shower reaches its peak. This is a reliable shower, with around 60–100 meteors per hour (or about one per minute), though sometimes more are seen. Even better: The Moon is a thin crescent and sets a couple of hours after the Sun, so it won’t out any meteors with its light. (Syfy Wire)
Be sure to check out our Masters in Business interview this weekend Fran Kinniry, Global Head of Private Investments at investing giant Vanguard Group. He is the leader of Vanguard’s initiative to offer private equity investing to individual investors.
Gold is anything but precious by comparison with S&P 500
Source: @charliebilello
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