My back to work morning train WFH reads:
• Everything’s Getting More Expensive. Here’s What You Can Blame It On. The supply chain is still screwed up, Energy prices spiked in November and People are still spending their stimulus money. (New York Magazine)
• Expected Returns Over the Next Decade Annual returns over the past 10 years: U.S. growth is up almost 20% per year. The S&P 500 is up more than 16% per year. Small caps are up almost 14% per year. REITs rose more than 11% annually. Everyone has been dancing on the grave of value stocks for years now, yet they’re up nearly 14% per year over the last decade. A simple 60/40 portfolio of U.S. stocks and bonds is up around 11% per year over the past 10 years. (Wealth of Common Sense)
• The Lucid Air Validates More Prep, Less Bragging Sometimes the best-laid plans really do work out. It’s taken Lucid 13 years to get here, from a humble battery supplier to an American EV start-up that’s valued at roughly $39 billion before delivering a single customer car. It takes less than 10 seconds for the 1111-hp Lucid Air Dream to crack the quarter-mile, specifically 9.9 seconds at 144 mph. Here in the Arizona desert, just a few hours from Lucid’s greenfield factory in Casa Grande, I content myself with lung-squeezing whomps to 120 mph in the time it takes many cars to hit 60. With the Air in its electron-huffing Sprint mode, I struggle to put the spatial dislocation into words. You know how you flick a stray ant off a picnic table? In the Lucid Air, you are the ant. (Road & Track)
• The Housing Boom Could Last for a Decade. Housing is booming. Just take a look at Century Communities ’ development in Tumwater, Wash., where more than 140 homes, at prices as high as $500,000, have been sold this year. Tumwater is viewed as a suburb of Seattle—even at 60 miles away. It’s a scene that has been repeated over the past two years in markets all across the country. Are we nearing a peak? No, say the housing bulls on Wall Street, who argue that this is an upturn that could last for a decade. Millions of millennials are now at a point in their lives when they are seeking single-family homes in the suburbs and exurbs. They are entering a market still chastened by an unprecedented collapse in housing more than a decade ago. (Barron’s)
• New People Are Coming to Crypto — And They May Not Like Bitcoin For a long time, there’s been a perception that it’s rooted in some kind of anarchy, with Bitcoin specifically often associated with right-wing, anti-Fed, gold-bug types. The fact that Bitcoin uses a lot of electricity to secure the network has helped cement the perception of “crypto” as a kind of antithesis of popular, liberal, ESG-ish ideals. But things are changing on that front, and mainstream commenters who previously turned up their noses at the space are capitulating. (Bloomberg)
• The Great Escape: Why workers are quitting their jobs, after the trauma of the pandemic According to a July survey from the Society for Human Resource Management, 41 percent of U.S. workers are either actively searching for a new job, or planning to do so in the next few months. Two-thirds of those searching have considered a career change, rather than moving within their industry. Bankrate’s job seeker survey in August found even more turbulence; 55 percent of the workforce said they would likely look for a new job in the next year. (American Prospect)
• The Office Is an Efficiency Trap: As office design evolved over the last century, one feature remained: the goal of filling your life with even more work. (Wired)
• Maggie Lieu on China going to Mars, Jeff Bezos suing NASA, and why robots won’t do our housework Are humans going to get to Mars? I think that this is very likely, and much sooner than we expect. China have started developing tools to go to Mars and get humans on Mars. Their predictions are 2030, and I think this is a pretty reasonable goal to achieve. Definitely, by 2035, I think we will see China be the first to win the space race to Mars. (The Browser)
• Inside the ‘Misinformation’ Wars Journalists and academics are developing a new language for truth. The results are not always clearer. (New York Times)
• Geminid meteor shower 2021: how to watch: The 2021 Geminid meteor shower peaks on the night between Dec. 13 and 14. The Geminids are usually one of the best meteors shower of the year, capable of producing 150 or more meteors per hour at a dark site. (Planetary Society)
Be sure to check out our Masters in Business interview this weekend with Maureen Farrell, former Wall Street Journal reporter (now with the New York Times), and co-author (with Elliot Brown) of the book “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion.”
ETF Inflows Top $1 Trillion for First Time
Source: WSJ
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