My mid-week morning train WFH reads:
• Boring is Beautiful in Investing: Successful investing should be boring. It should be long-term in nature. It requires patience and discipline and the ability to ignore the madness of the crowds. (A Wealth of Common Sense)
• Dear Elon, I can save Twitter for you. Here are my terms: No matter, no matter. Plainly we both love Twitter, despite its faults and flaws. I don’t think either of us wants to see it fail. It seems to be heading in that direction, but I think it can be saved. (Los Angeles Times) see also The Parody Gold Created by Elon Musk’s Twitter Blue: What impersonation issues, you ask? Countless users bought Twitter Blue to use it on “verified” parody accounts of all sorts of things, places, and people—from impersonations of pharmaceutical giant Eli Lilly to Donald Trump’s former lawyer Rudy Giuliani. Honestly, Twitter hasn’t been this much fun in a long time. (Slate)
• This Decade Will Be a Downer for the Stock Market: Heard That One Before? Historically, bad news and painful slumps like today’s inspire blah predictions. Funny thing how wrong they’ve been. (CIO)
• How Apple Stores Went From Geek Paradise to Union Front Line: Store employees helped create some of the most valuable square footage in the US. Now they feel more like regular salespeople—so they’re unionizing. (Businessweek)
• The Crypto Ponzi Scheme Avenger: From his home in New Zealand, the YouTuber Danny de Hek assails what he calls a dangerous and deceptive scheme, one rant at a time. (New York Times)
• How Hot Wheels became ‘the largest auto manufacturer out there’ More than 16 cars are sold every second. But what does it take to make a tiny classic motor? (Financial Times)
• America has an earthquake early-warning system now — on your phone : If you use the right app or phone settings, ShakeAlert will give you a few crucial seconds to drop, cover and hold on before an earthquake reaches you. (Washington Post)
• Russia’s retreat from Kherson is a military disaster that not even the Kremlin and its propagandists can spin: The recapture of Kherson may be Ukraine’s most significant victory in the war so far. (Grid) see also For Western Weapons, the Ukraine War Is a Beta Test: Though the battle for Ukraine remains largely a grinding artillery war, new advances in technology and training there are being closely monitored for the ways they are starting to shape combat. (New York Times)
• Donald Trump 2024: Six ways running for president will be harder this time: Donald Trump has announced his third straight presidential bid, in an extremely rare attempt by a former US leader to recapture the White House after losing an election. (BBC)
• Jennifer Aniston Has Nothing to Hide: Jennifer Aniston has spent most of her adult life in the spotlight, with all its glare. At 53, she opens up about her path to leaving regrets and some deeply personal pain behind. (Allure)
Be sure to check out our Masters in Business interview this weekend with Dave Nadig, Financial Futurist at VettaFi. The ETF industry pioneer has over 25 years of ETF experience. As Managing Director of ETF.com, he was a key participant in the rise of the passive and ETF industry. Previously, he was Was Managing Director at Barclays Global Investors. He co-authored the definitive book on ETFs, “A Comprehensive Guide To Exchange-Traded Funds,” for the CFA Institute.
Are Stocks Out of the Woods yet? Declining earnings estimates and a fair value of around 14x
Source: @TimmerFidelity
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