My Two-for-Tuesday morning train WFH reads:
• Florida Coastal Living Reshaped by Hurricane Housing Codes: Many homeowners in southwest Florida towns find it challenging to rebuild. ‘People leave and don’t come back.’ (Wall Street Journal)
• What just happened won’t tell you what’s coming next: There is very little relationship between trailing returns and future returns. (Sam Ro) see also Financial instability wants its money back: Are price and financial stability fundamentally opposed? (Financial Times Alphaville)
• The Secretive World Of MEV, Where Bots Front-Run Crypto Investors For Big Profits: True believers say crypto is more transparent than traditional finance. Yet that openness—combined with clunky infrastructure and an absence of regulation–lets crypto trading firms with lightning-fast bots prey on unsuspecting retail traders. (Forbes)
• Could Pot Be Decriminalized Before Biden Leaves Office? The mostly overlooked second part of Biden’s announcement — a directive to reevaluate pot’s federal status as a Schedule I drug — that has the potential to change the future of American cannabis policy. (fivethirtyeight) see also The Golden Age of Dispensary Design Is Almost Here: As cannabis legalization has become more widespread, retailers are getting increasingly serious about the design and branding of their shops. (New York Times)
• Companies are being forced to reveal what a job pays. It’s a start. New pay transparency laws will help, but they still aren’t enough to eliminate the pay gap. (Recode)
• The Office Workers of Kyiv Hit the CrossFit Gym—for Weapons Training: Inside Ukraine’s underground boot camps. (New Republic)
• Alex Jones’s lies have cost him $965 million in a second Sandy Hook trial Connecticut jurors order Alex Jones to pay $1 billion in second Sandy Hook trial — and more might be on the way. (Vox)
• Why Republicans Could Prevail in the Popular Vote but Lose in the House: In a potential reversal of recent structural trends, there’s a small chance of something we haven’t seen since 1952. (New York Times) see also The Most Important Attorney General And Secretary Of State Races To Watch: Want to influence state laws and elections? Attorney general or secretary of state is the job for you! In the U.S., the attorney general is a state’s top law-enforcement official, and the secretary of state is the head election official in most states. (FiveThirtyEight)
• Worthy prof motive — a salute to an NYU legend: Gurland just might be the most popular professor in NYU history, even if most people outside the university’s downtown Manhattan campus have never heard of him. According to former students and NYU colleagues to whom I spoke, he is also possibly the most important teacher of philosophy in the country. (New York Post)
• I just learned I only have months to live. This is what I want to say: “I’ve been a journalist for more than 60 years. So after doctors delivered the news, I sat down to do what came naturally, if painfully: Write this story. (Boston Globe)
Be sure to check out our Masters in Business this week with Tom Rampulla, managing director of Vanguard’s Financial Advisor Services division since 2002. He runs the business that provides investments, services, education, and research to more than 1,000 financial advisory firms representing more than $3 trillion in assets.
Big Money managers sound more bullish than survey results suggest
Source: Barron’s
