My end of week morning train WFH reads:
• The Tech Rout Isn’t Just Cyclical—It’s Well-Earned, and Overdue The market collapse isn’t just the inevitable result of macroeconomic forces like high interest rates and inflation. It’s also the best opportunity in more than a decade to reckon with the tech industry’s excess. (Businessweek)
• Marks: Bull Market Rhymes There are recurring cycles, ups and downs, but the course of events is essentially the same, with small variations. It has been said that history repeats itself this is perhaps not quite correct it merely rhymes. (Oaktree Capital)
• Wealthy Investors Pile Into Private Equity to Escape Stock Volatility Individual investors are pushing cash into private markets as public markets tumble, fund managers say (Wall Street Journal)
• They spent a fortune on pictures of apes and cats. Do they regret it? The market for digital collectibles is in flux, leading investors to consider what the artwork is really worth. (Washington Post)
• Big U.S. Cities Lost More Residents as Covid-19 Pandemic Stretched On San Francisco and Chicago population totals are near 2010 levels. (Wall Street Journal) see also These Are the Best — and Worst — Cities for Work-Life Balance New research assesses cities for livability, work intensity and social services. (Pursuits)
• Bad Economics: How Not to Think Like an Economist: How microeconomic reasoning took over the very institutions of American governance. (Boston Review)
• Ideas to boost Japanese growth (Part 1) Fixing that broken corporate culture is an important part of the story of low Japanese GDP, and I’ll talk about ways to address it. But it’s only part of the puzzle. In today’s post, I want to list some steps I think Japan can take to boost growth above and beyond corporate culture reform. (Noahpinion)
• How Digital Transparency Became a Force of Nature: No secret is safe in the digital age. The implications for our institutions are downright Darwinian (Scientific American)
• Trump Is Telling Allies His Record on Abortion Could Hurt His 2024 Chances Trump fears that by laying the groundwork to overturn Roe v. Wade, he has enraged ‘suburban women’ and given his enemies an opening, sources tell Rolling Stone. (Rolling Stone)
• Why Is ‘Bob’s Burgers’ So Freakishly Lovable? This Guy. Loren Bouchard’s accidental career as a comedy mogul has now brought his TV family to the big screen. (New York Times)
Be sure to check out our Masters in Business next week with Adam Parker, founder of Trivariate Research. Formerly Head of Research at Sanford C. Bernstein, he was #1 ranked semi analyst, before becoming Chief US Equity Strategist and Director of Global Quant Research at Morgan Stanley. As a member of MS’s global investment committee, he helped oversee $2 trillion in private wealth.
Investing during Stagflation: What happened in the 1970s
Source: Jim Reid, Deutsche Bank
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