10 Monday AM Reads

My back-to-work a recession is coming morning train WFH reads:

Inverted Yield Curve: A Recession Alarm Is Ringing on Wall Street: An inversion of the bond market’s yield curve has preceded every U.S. recession for the past half century. It is happening again. (New York Times)

There Was Never Anything Wrong With Value: How the influence of popular value benchmarks challenges investor faith in the style and even the business of some value managers. (Institutional Investor) see also The Stock Market Is On Sale. That Doesn’t Make It Cheap. Valuations have plummeted at a record rate, but that’s before Wall Street has taken account of a slowing profit growth. (Wall Street Journal)

The Rich Rush to Offload Luxury Properties The rich are now paying attention to prices and their income, lament high-end agents in hotspots like Miami and San Francisco. “It’s pretty sudden,” one said. (Vice)

Recession: medicine that’s worse than the disease Some experts say we need a recession to bring high inflation down. That’s incorrect. Their model of the economy and views on what’s causing inflation risk making a bad situation much worse. (Sahm)

Manhattan’s Private Clubs Offer a New Social Lifeline to Remote Workers Amenities range from bars and workspaces to restaurants and spas, and many places have long waiting lists. (Wall Street Journal)

The unsinkable potential of autonomous boats: Autonomous boats are now crossing oceans (Vox)

Your phone’s notification settings and the meaning of life Switching to a new phone is easy enough these days. The wheezing older model formed a huddle with the shiny oversized new thing, and within a few minutes had effected a near-complete digital handover. One exception was the notification settings. As they reset to the default, my new phone began to beep and buzz incessantly, like the strange offspring of R2-D2 and a cheap vibrator. (Tim Harford)

A Flaw in Human Judgment: How Making Decisions Isn’t As Objective As You Think. Daniel Kahneman about the role of ‘noise’ in human judgment, his long career studying cognitive biases, and how systematic decision-making can result in fewer errors (Science Friday)

How to Do Fertility Control Like It’s 1865: For centuries, regulating your menses—and stopping a potential pregnancy—was legal under common law. (Slate)

Why Formula One’s Fastest Team Isn’t Leading The Championship: Ferrari’s Speed Is World-Class. Its Reliability And Strategy? Not So Much. (FiveThirtyEight)

Be sure to check out our Masters in Business interview this weekend with Graham Weaver, founder of and partner of Alpine Investors, a private equity firm in San Francisco that invests in software and services and manages about $8 billion dollars. Weaver holds an MBA from Stanford GSB and a B.S. in engineering from Princeton. He started Alpine in his dorm room at Stanford’s Graduate School of Business, where he now is a lecturer, teaching courses on both management and entrepreneurship.

 

The difference between the median recession bear and non-recession bear is -35% vs -22%

Source: @TimmerFidelity

 

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