My end of week morning train WFH reads:
• A Two-Year, 50-Million-Person Experiment in Changing How We Work The office was never one size fits all. It was one size fits some, with the expectation that everybody else would squeeze in. (New York Times)
• The Rich List: The 21st Annual Ranking of the Highest-Earning Hedge Fund Managers Altogether, the 25 highest-earning hedge fund managers earned a combined $26.64 billion last year, the second-highest amount in the history of the Rich List, after only 2020’s record-setting haul. Over the past two years, the members of the Rich List’s First Team have made more than $58 billion combined. (Institutional Investor)
• A Guide To All The Outrageous Mansions And Estates Owned By Sanctioned Russian Billionaires Forbes uncovered at least 62 properties—worth a collective $2.5 billion—held by 13 targeted Russian oligarchs, ranging from a posh Manhattan townhouse to a grand Italian villa. All are at risk of seizure. (Forbes)
• The Day the Market Bottomed If investors were told to hang tight, that the S&P 500 would return 17% a year for the next thirteen years, 700% total, nobody would have believed it. The sky was dark in 2009 and it seemed like the sun would never shine again. But the darkness always gives way to light because hope is more powerful than despair. People never lose the motivation to provide for their families and to make the future better than the past. (Irrelevant Investor)
• Will Inflation Stay High for Decades? One Influential Economist Says Yes Charles Goodhart sees an era of inexpensive labor giving way to years of worker shortages—and higher prices. Central bankers around the world are listening. (Wall Street Journal) see also Don’t Mess With Texas Barbecue: Restaurants Confront Rising Meat Prices (Wall Street Journal)
• Vinyl Sales Soar — and Even CDs Rebound — as U.S. Recorded Music Industry Posts $15 Billion Year-End Revenue But while the $15 billion number is itself a record, when adjusted for inflation, it’s actually ~40% lower than the previous record of $14.6 billion in 1999. (Variety)
• The New York trial that has it all: Hollywood, megayachts, giant sums of money The 1MDB swindle is one of the most remarkable cases to hit New York’s justice system in years – but the trial poses a number of unanswered questions (The Guardian)
• We have the best view yet of Covid-19’s origins. What should we do about it? The latest research points to a spillover from animals at the Huanan Seafood Wholesale Market in Wuhan. The world could take steps to prevent this from happening again. (Vox)
• John von Neumann Thought He Had the Answers The father of game theory helped develop the atom bomb—and thought he could calculate when to use it. (New Republic)
• The One-Legged Snowboarder Who Built an Ingenious Prosthetic for Himself—and His Opponents After a horrific accident took his leg, Mike Schultz invented a high-tech artificial limb that action sport athletes quickly adopted. And now, to win gold at the Beijing Paralympics, he’ll have to beat them. (GQ)
Be sure to check out our Masters in Business interview this weekend with Michelle Seitz, Chairman and Chief Executive Officer of Russell Investments, the 6th largest manager in the world. The firm manages over $331. billion in assets and advises on another $2.8 trillion.
Can Russia Sanction-Proof its Economy? Types of Organizations the West Sanctions
Source: Atlantic Council
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