My back-to-work morning train WFH reads:
• Most pros can’t beat the market: 2021 is the 13th consecutive years in which the majority of fund managers in this category have lagged the index. (TKer)
• The 55-and-Older Labor Market Exodus Is a Statistical Mirage People in their late 50s and early 60s haven’t stopped working, and for those over 65, workforce participation declines have been smaller than generally portrayed. (Bloomberg) see also Quiet Quitting Is a Fake Trend: What people are now calling “quiet quitting” was, in previous decades, simply known as “having a job.” (The Atlantic)
• Inside the World’s First No-Coiner Conference The Crypto Policy Symposium in London was a historic gathering of crypto skeptics—and nobody tried to sell me anything. (Decrypt)
• Four reasons why GDP is a useful number: The critics have overstated their case. (Noahpinion)
• Electric Vehicles Took Off. Car Makers Weren’t Ready: More buyers are lining up for EVs, catching car companies flat-footed and triggering a race for more batteries, factories and materials (Wall Street Journal)
• Why Do We Always Focus on the Bad Stuff? The bad stuff makes us feel worse than the good stuff makes us feel good. Complaining feels more natural than gratitude for most people because it’s easier. And I’m sure there is some survival of the fittest trait that was handed down from our ancestors. Paying attention to the bad stuff kept you alive. (A Wealth of Common Sense)
• The Weakness of Xi Jinping: How Hubris and Paranoia Threaten China’s Future (Foreign Affairs)
• Life Is an Accident of Space and Time: Even if life existed on every planet that could support it, living matter in the universe would amount to only a few grains of sand in the Gobi Desert. (The Atlantic)
• Checkmate: There’s something wild happening in the chess world right now, and I’m going to tell you right up front that I don’t really understand it. But I want to talk about it anyway because it speaks to something larger happening in all sports, something confusing and alluring and perilous. (JoeBlogs)
• When Duke Ellington Made a Record for Just One Person—Queen Elizabeth The jazz legend had a single golden disc pressed, and sent in secrecy to Buckingham Palace. (The Honest Broker)
Be sure to check out our Masters in Business this week with Albert Wenger, Managing Partner at Union Square Ventures. He co-founded 5 companies; was President of del.icio.us thru the company’s sale to Yahoo; angel investor Etsy + Tumblr. Wenger is the author of World After Capital, describing the shift to a Knowledge Age + its implications for businesses & society.
Gold should have been a haven in 2022, but YTD it is down ~8%
Source: WSJ
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