10 Wednesday AM Reads

My mid-week morning train WFH reads:

What You’ve Lost in This Bull Market Investors who no longer fear their bets could explode are seeking out risks they don’t have to take. (Wall Street Journal)

How Blockchain Can Change the World The pace at which progress happens often depends on your view of the world. For example, you know when you see a child for the first time in a few years, and your reaction is, “Oh my god. You got so big.” That makes sense because if you saw them at 2 and then not again until they’re 8, that’s a 300% increase. To the parent who is with them every day, however, the changes can be imperceptible. (Irrelevant Investor)

The Simple Problem That Sank Greensill’s Complex Financial Empire The former fintech darling took in money from investors seeking safety and used it for risky loans. It all collapsed in a crisis of confidence.  (Businessweek)

Firing Fed Chair Jerome Powell, as some progressives want, would sabotage Biden’s agenda Powell was originally nominated to a Fed Board seat by President Barack Obama in 2011, and elevated to chair by President Donald Trump in 2018. Since then he’s done an extraordinary job. Among the highlights: He safeguarded the Fed’s political independence when Trump tried to bully him into pursuing partisan policies. He took aggressive, early action to shepherd the economy through a pandemic. Perhaps most significantly, he reoriented the Fed’s mission toward creating more job opportunities for the most vulnerable Americans. (Washington Post)

Inequality, Interest Rates, Aging, and the Role of Central Banks Bad things lead to more bad things. But (some) bad things can be fixed. (The Overshoot)

There’s One Thing We Can Learn From the Villages’ Success Most older Americans want to age in place, and many can’t, or won’t, move to big cities with dense transportation networks and nearby grocery stores (Curbed)

A Christian’s Case Against Exemptions to Vaccine Mandates Religious exemptions to employer mandates are a precious right in our democracy. This is why it is especially important not to offer such exemptions to coronavirus vaccine mandates. They make a mockery of Christianity and religious liberty. (New York Times)

The pandemic is almost certainly a bigger political risk for Biden than Afghanistan The August jobs report was the first to fully include the effects of the fourth surge of the virus, the one driven by the delta variant that is now the overwhelming cause of new cases. In other words, employment and coronavirus infections continue to move in an inverse relationship: one goes up, the other goes down. (Washington Post)

What Makes Us Love the Pain of Hot Peppers? Eating spicy chilies has the effect of a self-induced chemical attack. The evolutionary puzzle is figuring out why we do it. (Wall Street Journal)

Why Dweezil Zappa doesn’t own Frank Zappa’s equipment But as it turns out, Dweezil has to guesstimate most of the time. He owns almost none of his legendary father’s guitars and equipment, and the reason why is connected to a family feud that spans nearly a decade. When asked how much of his father’s gear he owns, Zappa responds, “Well, the thing is, I don’t have a lot of it. That’s because of the way the Zappa Family Trust ended up dealing with things.” (Far Out)

Be sure to check out our Masters in Business interview this weekend with Robert Hormats, Managing Director at Tiedemann Advisors. Previously, he spent 25 years at Goldman Sachs (International), rising to Vice Chairman. Hormats has served five U.S. presidential administrations, most recently as Under Secretary of State for Economic Growth, Energy, and the Environment from 2009 through 2013.


Search Engines and Digital Video Bolster Online Ad Spend

Source: Statista



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