My morning train WFH reads:
• Dow Crosses 36,000—Making a Book’s Prediction Just Two Decades Late A 1999 book boldly proclaimed the index should hit that target ‘immediately.’ Now the authors have something to say. (Wall Street Journal)
• What I Learned Being Wrong Even though I was clearly wrong on the price of Tesla, and as an investor that is literally all that matters, I never valued my opinion enough to put actual dollars on the line. Never shorted the stock. Never bought puts. Nothing. I just watched in disbelief. (Irrelevant Investor) see also 11 Things Every Stock Market Investor Should Know When I think about my ignorance, I can’t help but laugh. However, I’m glad I stopped listening to mainstream financial advice. After losing money in the market, I only wanted to learn from great investors who actually made money, and I actively sought them out. (Darius Foroux)
• I Spent 44 Years Studying Retirement. Then I Retired. I was more prepared than just about anybody. And some things are exactly what I expected. But other things—not so much. (Wall Street Journal)
• Despite Losing Market Share, Smaller Asset Managers Keep Battling the Giants Boutiques and specialists, which offer benefits like higher risk-adjusted returns, still have to fight hard to make their case in an industry of mega firms. (Institutional Investor)
• The Market Impact of the Closure of Zillow Offers: Little impact on demand and prices, No impact on overall Supply (Calculated Risk)
• The MetaVerse: Brave New World or Capitalist Hellscape? They have 3 billion users, an $800 billion market cap, and they’re going all in on the Metaverse? We can talk all the sh*t we want, its a big deal.” $30 billion in Capex. It’s going to be in the conversation. (ETF Trends)
• The Toxic Ten: How ten fringe publishers fuel 69% of digital climate change denial (Center For Countering Digital Hate)
• Terry McAuliffe Bet on Voters Hating Trump. Turns Out They Dislike Democrats More. Glenn Youngkin’s victory should send shock waves through the Democratic Party, which continues to alienate once-dependable members of its base. (Politico)
• Where *isn’t* Planet 9? Astronomers are still looking for a possible giant planet far beyond Neptune. Astronomers are still looking for a possible giant planet far beyond Neptune. (Syfy Wire)
• Dues Paid in Full, the Braves Are World Champions This team is about the long haul. This title is a triumph of perseverance. (Sports Illustrated) see also Rosenthal: For Braves manager Brian Snitker, a long, winding and unlikely journey ends with the dream of a world title. In the end, when the final out was made and a bumpy 45-year journey reached its pinnacle, Ronnie Snitker, the wife of Braves manager Brian Snitker, was not even in the stands watching. (The Athletic)
Be sure to check out our Masters in Business interview this weekend with Tom Gayner, Markel Corporation’s co-president and chief investment officer of the financial-holding company He has been dubbed the “next Warren Buffett.” From 2000 to 2015 Gayner returned an average of 11.3% annually, while the S&P 500 index of big U.S. stocks returned 4.2%, (including dividends).
A Regional Breakdown of Millennials Around the World
Source: Visual Capitalist
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