My Two-for-Tuesday morning train WFH reads:
• How bear markets trick gullible investors: The majority of the biggest daily jumps occur during bear markets (Marketwatch) see also Why We’re Now in a Bear Market: Everything you need to know right now about crashing stocks. (Slate)
• Wall Street’s Favorite Recession Signal Is Back as Curves Invert: Short-term yields climb faster as Fed hikes to slow economy May inflation surge spurs speculation of 75-basis point hike (Bloomberg)
• A Full Return to the Office? Does ‘Never’ Work for You? Employer plans have played out like a game of chicken. Now workers are rebelling outright, and executives are trying everything to make the office worth it. (New York Times).see also Why the return to the office isn’t working “I don’t gain anything besides a commute.” (Vox)
• The End of the Millennial Lifestyle Subsidy: Something beyond rising energy and labor costs is leading to sticker shock on once-cheap urban amenities. It’s not just inflation, it’s the end of the VC-funded Millennial Consumer Subsidy. (The Atlantic)
• Insiders Put Recession Angst Aside to Binge on Their Own Stocks Purchases poised to top sales for first month since March 2020 Buoyancy at odds with souring mood from Wall Street, investors. (Bloomberg) see also S&P 500 Sector Quilt: Why it’s so difficult to pick the best sectors to invest in. (A Wealth of Common Sense)
• America’s Inequality Problem Just Improved for the First Time in a Generation The collective wealth of the bottom 50% of households has nearly doubled in two years. Can the fragile gains continue? (Businessweek)
• Elon’s Twitter twist: Musk’s big tech ‘best’ offer looks bogus (New York Post) but see It’s time to face facts: Elon Musk is a terrible boss The arrogant, king-like evolution of Elon Musk the boss. (MSNBC)
• Many Reporters Think Kevin McCarthy Is Dumb. Why Can’t They Say So? Washington’s last taboo: calling someone stupid. (Politico)
• Covid is making flu and other common viruses act in unfamiliar ways: More than two years into the coronavirus pandemic, familiar viruses are acting in unfamiliar ways. Respiratory syncytial virus, known as RSV, typically limits its suffocating assaults to the winter months. (Washington Post)
• Tom Hanks Explains It All. Is it telling, then, that in this time of declining trust in our institutions and one another, Tom Hanks is now playing a bad guy? (New York Times)
Be sure to check out our Masters in Business this week with Mark Mobius of Mobius Capital. Known as the “The Godfather of Emerging Markets,” he was tapped by Sir John Templeton in 1987 to run Templeton Emerging Markets, one of the first EM funds in the world. Over the next 30 years, he visited 112 countries, invested in 5,000+ companies, and traveled 1,000,000+ miles. This helped to grow the Templeton Emerging Markets Group from $100 million in six markets to over $40 billion in 70 countries.
If you’re in the market for home goods, there’s a decent chance your local Target will have a sale in the near future…
Source: Chartr
