My back-to-work morning
train WFH reads:
• SBF, Bored Ape Yacht Club, and the Spectacular Hangover: After the Art World’s NFT Gold Rush Auction houses and talent agencies thought the Web3 works were a fast track to billions. If it weren’t for a global crypto meltdown, they might have pulled it off. (Vanity Fair)
• The Ultimate Contrarian Indicator to Start the Year: Amid the improved mood in Davos are two big worries, either of which could see the bear market reassert itself. (Wall Street Journal) see also Wonking Out: Give Me That Gold Time Religion: Gold, the pet rock of ages, is back. (New York Times)
• A Global Perspective on the Car Shortage: Pandemic-Era Car Shortages are the Defining Example of Supply-Chain Driven Inflation—And Vehicle Production Issues Are Still an Ongoing Worldwide Crisis. (Apricitas Economics)
• These ‘Big Short’ Vets Were Up 169% Last Year: Financial and tech shorts, along with long energy plays, boosted the Seawolf Master Fund in 2022. (Institutional Investor)
• Fed to deliver two 25-basis-point hikes in Q1, followed by long pause: The U.S. Federal Reserve will end its tightening cycle after a 25-basis-point hike at each of its next two policy meetings and then likely hold interest rates steady for at least the rest of the year, according to most economists in a Reuters poll. (Reuters)
• Why some people can’t tell left from right: It can seem like an almost childish mistake, but a surprising number of adults — one in six — confuse left from right and scientists are only just starting to understand why. (BBC)
• Is It Really a Good Idea to Micromanage Your Life With an App? Jira, Monday, Todoist, Trello–the internet is full of project management tools promising to simplify your life. But who do they really work for? (Vice)
• Good bipartisan news? Meet the Republicans Who Are Facing Down the Hard Right: “I think there is a recognition that the most extreme elements of both sides can’t be in control.” (New York Times)
• The Evolution of Patrick Mahomes Into a Football Man in Full: On the verge of his second NFL MVP award and a win away from his fifth straight AFC championship game, the Chiefs quarterback answered every possible question in 2022 and became a better version of himself. (The Ringer)
• American Expatriates in Paris Wish Emily Cooper Would Go Home: Real-life Emilys in Paris complain that the show’s heroine, clad in over-the-top couture and barely able to speak French, is giving them a bad name. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Steven Klinsky, Founder and CEO, New Mountain Capital. Prior to founding New Mountain Capital in 1999, he was co-founder of the Leverage Buyout Group of Goldman Sachs, where he did $3+ billion of transactions before joining Forstmann Little as a partner, where he oversaw $10+ billion in capital.
Bank of America’s monthly survey of investors’ biggest tail risk
Source: Financial Times
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