The weekend is here! Pour yourself a mug of organic Peabody beans coffee, grab a seat by the window, and get ready for our longer-form weekend reads:
• The Market Is Wrong, Bro: Stocks go up, stocks go down, and confirmation bias. The market isn’t wrong. It’s just the market. The only thing “right” or “wrong” is how we respond to the market. Be wary of assuming that profitable price movement confirms your ideas, and don’t dismiss every dip as the market being irrational. (Young Money)
• The Turkish Drone That Changed the Nature of Warfare: The Bayraktar TB2 has brought precision air-strike capabilities to Ukraine and other countries. It’s also a diplomatic tool, enabling Turkey’s rise. (New Yorker)
• Elon Musk’s Fixer Is Quietly Tending the World’s Biggest Fortune: Jared Birchall is the right-hand man who does everything from lining up Twitter deal financing to digging up dirt on adversaries. (Bloomberg)
• On Japan’s Front Lines: For millions of Japanese, confrontation between the U.S. and China is already a reality. Japan Is the Front Line of a U.S.-China Conflict (Businessweek)
• The Bronc-busting, Cow-punching, Death-defying Legend of Boots O’Neal He’s pushing ninety and still saddling up at the Four Sixes Ranch. Just don’t call him “the last cowboy.” (Texas Monthly)
• About those kill-switched Ukrainian tractors: What John Deere did to Russian looters, anyone can do to farmers, anywhere. (Medium)
• When Animals Shed Their Wings: Worker ants can sprout wings—but don’t. Ant and termite queens destroy theirs after mating. Many island birds evolve into flightlessness. Can evolution explain why (Quillette)
• The Secrets Ed Koch Carried To many New Yorkers, he was their brash and blustery mayor. But friends are now describing the private strain endured by a public man laboring to conceal his sexual orientation. (Note to non-New Yorkers: This was not a well kept secret in NY in the 1980s) (New York Times)
• Mechanical Watch: In the world of modern portable devices, it may be hard to believe that merely a few decades ago the most convenient way to keep track of time was a mechanical watch. Unlike their quartz and smart siblings, mechanical watches can run without using any batteries or other electronic components. (Bartosz Ciechanowski)
• Wings, Sweat, and Tears For stars like Kevin Hart, Idris Elba, and Lorde, eating spicy wings is the key to relatability. (Eater)
Be sure to check out our Masters in Business next week with Boaz Weinstein of Saba Capital. The hedge fund specializes in Credit Default swaps, Tail Protection & Volatility trading. Saba is one of the 5 largest SPAC investors. Previously, Weinstein was Co-Head of Global Credit Trading at Deutsche Bank and a member of the Global Markets Executive Committee. Weinstein became infamous as the trader on the other side of the London Whale trade against JPM, which lost the bank $2B and netted Saba 100s of millions in gains.
Experts say numbers show importance of boosters — and the risks the most vulnerable still face
Source: Washington Post
To learn how these reads are assembled each day, please see this.