The weekend is here! Pour yourself a mug of Beanbox coffee, grab a seat on the couch, and get ready for our longer-form weekend reads:
• The Glamour Of Sam Bankman-Fried Joshua: But that’s just market risk. It comes with the territory. Counter-party risk is something else. Being victimized is different than buying things that rise and fall. Being lied to, cheated and stolen from is another level. Long-term investors do not want to accept that risk going in. It’s not supposed to be part of the experience. When it happens during a bear market, it takes what little trust is left and sets it on fire. (Reformed Broker) see also Sam Bankman-Fried vs. The Match King: Ivar Kreuger “Everything in life is founded on confidence.” (A Wealth of Common Sense)
• Asteroids! Solar Storms! Nukes! Climate Calamity! Killer Robots! A guide to contemporary doomsday scenarios — from the threats you know about to the ones you never think of… (Washington Post)
• Ukraine’s Repair Crews Dodge Bullets and Splice Cable to Keep the Country Online: In the trenches and beneath the utility poles with the teams keeping citizens and soldiers connected. (Businessweek)
• Are we really prisoners of geography? A wave of bestselling authors claim that global affairs are still ultimately governed by the immutable facts of geography – mountains, oceans, rivers, resources. But the world has changed more than they realise. (The Guardian)
• The Dinosaurs of Park Avenue: Apartments in the grandest uptown co-ops are sitting on the market for years. Why These $20 Million Uptown Co-ops Aren’t Selling (Curbed)
• How to Think About Relativity: Albert Einstein’s ideas about space-time aren’t exactly intuitive, and they aren’t exactly Einstein’s, either. (Quanta Magazine) see also Discounting Belief: What to do when everyone stops believing. (Not Boring)
• How Food Powers Your Body Metabolism, which unleashes the energy in what you eat, may be nature’s most electrifying invention. (New Yorker)
• Can’t go to the moon? This crater in Canada is the next best thing. The Mistastin crater on Earth holds large quantities of the bright white rock on the majority of the moon’s surface. (Washington Post)
• How the Story of Soccer Became the Story of Everything: Oligarchs, private-equity moguls, and petro states took over the sport—and the world. (Mother Jones)
• Margot Robbie Is Nobody’s Barbie: The Babylon Star on Navigating Hollywood: Like Nellie, Robbie, who’s 32, got Hollywood’s attention with a breakout performance, in The Wolf of Wall Street, and has built a career that suggests what a modern movie star can be. She’s a no-bullshit actor and producer who bounces between blockbusters and dark indies, even if she’s still a little uncomfortable with the spotlight. “The way I try to explain this job—and this world—to people is that the highs are really high,” she says, her hand hovering over her head, “and the lows are really, really low. And I guess if you’re lucky, it all balances out in the middle.” (Vanity Fair)
Be sure to check out our Masters in Business interview this weekend with Marcus Shaw CEO of AltFinance, which seeks to increase diversity across alternative asset management. The firm was co-founded by Apollo, Ares, and Oaktree with a $90 Million seed funding for initiatives to recruit students at Historically Black Colleges and Universities.
Bond yields have round-tripped from very expensive to very attractive.
Source: Jurrien Timmer, Fidelity
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