My back-to-work morning train WFH reads:
• How Should a Business Bro Dress? Trading hoodies at the home office for hard pants, we take a snapshot of the finance bros in their native habitat. (New York Times)
• Why Isn’t Inflation Falling? The U.S. consumer has likely never been more prepared for high inflation (and a potential recession) than they were coming into this period of higher prices. No one likes inflation but we love to spend money in this country. So most people have simply decided to complain but still spend through the pain of higher prices. (A Wealth of Common Sense) see also Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes: Some officials are signaling greater unease with big rate rises to fight inflation (Wall Street Journal)
• No Longer Tied to Offices, Workers Are Still Bound by the Clock: While the pandemic shifted where work gets done, we’re still following Henry Ford’s advice about when it should get done. (Bloomberg)
• Big Oil’s Surprisingly Bright Future. The Case for BP and Exxon: They Have a Surprisingly Green Future. (Barron’s)
• How Steve Jobs Fleeced Carly Fiorina: The former HP CEO boasted of her friendship with Apple’s leader — but he took her to the cleaners with the iPod (Medium)
• Please stop calling it the ‘newsletter economy’: Or the creator economy, for that matter (On Substack)
• A Humiliating End to Trussonomics: The British government’s dramatic U-turn shows how policy mistakes can be rapidly punished in times of global economic uncertainty. (New Yorker)
• Desperate pleas and smuggled pills: A covert abortion network rises after Roe: Amid legal and medical risks, a growing army of activists is funneling pills from Mexico into states that have banned abortion. (Washington Post)
• Ron DeSantis profile: The Florida governor with White House buzz: This willingness to work with rivals – as well as his serious demeanour and bearing – have prompted some journalists and Republican observers to refer to Mr DeSantis as “Trump with substance” or “Trump 2.0.” (BBC)
• A Posthumous Memoir Reveals Paul Newman in His Own Words: Compiled from interviews he gave to a close friend, “The Extraordinary Life of an Ordinary Man” sheds light on the self-doubt of the seemingly imperturbable Hollywood star. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Marta Norton, Chief Investment Officer of Morningstar Investment Management. The firm manages directly or advises on $249.4B in client funds. She began her career as BLS economist, and before her current role, she was Head of U.S. Outcome-Based Strategies for Morningstar.
Retail investors take shelter in cash after stock market rout
Source: Financial Times
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