My Two-for-Tuesday morning train WFH reads:
• The Stock Market’s Drop Is Hitting Many 401(k)s Harder This Time Target-date funds, a popular retirement-savings option, are more heavily invested in stocks than investors might think. (Wall Street Journal) see also Market Pain Isn’t Over, but You Will Get Through This Head-spinning volatility in financial markets isn’t all that puzzling when you consider the problems the Federal Reserve is grappling with, our columnist says. (New York Times)
• Was the 1966-1982 Stock Market Really That Bad? This long, drawn out sideways market is one of the ultimate devil’s advocate positions for those that like to argue against stocks being a solid long-term investment. Although this was technically a sideways market we need to put some context around this time frame. (A Wealth of Common Sense)
• Where Is Inflation Headed? Nine Signs to Watch: Economists are especially interested in what current price pressures bode for the longer term (Wall Street Journal) see also 15 Ways Consumers Can Deal With—and Even Benefit From—Rising Inflation Among the tactics: calculate your personal inflation rate and buy the car you’re leasing (Wall Street Journal)
• Japan’s living standards are too low: A lot of hard work with not nearly enough to show for it: But underneath the gloss of that fantasy-land exterior, Japan as a whole is not exactly thriving. For decades, the country’s real wages have drifted downward. (Noahpinion)
• How Jack Welch’s Reign at G.E. Gave Us Elon Musk’s Twitter Feed The onetime ‘manager of the century’ paved the way for C.E.O.s to moonlight as internet trolls. (New York Times) see also GE CEOs: Overrated Jack Welch versus Underrated Jeff Immelt The two chief executives of General Electric Co. were dealt very different hands. (The Big Picture)
• “Covid Zero” is Crushing China Production and consumption both cratered in April. The impact on the rest of the world is uncertain. (The Overshoot)
• Company insiders rip Tesla’s stance on safety in hard-hitting Elon Musk doc: ‘Elon Musk’s Crash Course,’ about Tesla’s Autopilot, describes a corporate culture of hype over science. (Los Angeles Times) see also Elon Musk’s Best Twitter Friend Is A 23-Year-Old Engineer In India He’s Never Met Musk has mentioned the Twitter handle of Pranay Pathole, a 23-year-old engineer, more than 400 times since 2018. (Buzzfeed)
• Travel Tips From the Man Who’s Visited Every Country on Earth—and Space Pack a sheet, leave the wedding ring at home, and skip the street food. (Pursuits)
• If You Think Free Speech Is Defined By Your Ability To Be An Asshole Without Consequence, You Don’t Understand Free Speech Free speech does not mean the right to be free from consequences of that speech. (Tech Dirt) see also “Free Speech” Ought to Mean More than Mocking Trans People Elon Musk, social media content moderation, and a culture of free speech. (The Bulwark)
• ‘Redemption is a powerful concept’: Hayden Christensen on Star Wars and daring to return as Darth Vader: When he first portrayed Darth Vader in the much-panned Star Wars prequels 20 years ago, fans vented their anger at him. So why is he risking more in a new TV series? He talks about George Lucas, the pressures of fame and his love of bulldozers (The Guardian)
Be sure to check out our Masters in Business interview this weekend with Gerard K. O’Reilly, Co-Chief Executive Officer and Chief Investment Officer of Dimensional Fund Advisors, which manages $650 billion in client assets. Previously, he was Head of Research at DFA, managing the firm’s rigorous approach to interpreting, testing, and applying research in portfolios.
6th worst non-recessionary, post WWII correction
Source: Jim Reid, Deutsche Bank
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