My morning train reads:
• Homeowners Don’t Want to Sell, So Home Builders Are Booming: High mortgage rates are dissuading sellers, leaving new construction the only game in town; ‘there was no inventory.’ (Wall Street Journal)
• Bond Market Outlook: Valuations Suggest Potential for Equity-Like Returns With Less Risk: High-quality fixed income assets may offer the best return potential in more than a decade along with diversification benefits as a likely recession approaches. (PIMCO)
• What Could Derail Private Credit’s Momentum? The popular investment may suffer from an economic dip and other changes in the financial scene, critics warn. (Chief Investment Officer)
• The Biggest Holdouts on the Five-Day Office Week: Bosses: Nearly half of the most senior employees are holding fast to their work-from-home days. (Wall Street Journal)
• Ford Cuts Price of F-150 Lightning Electric Truck by Up to $10,000: Move comes after rival Tesla begins production of Cybertruck. (Wall Street Journal) see also Electric Vehicle Prices Fall as Automakers Raise Production: Ford, Tesla and other automakers are having to lower prices to lure buyers as the supply of battery-powered models begins to exceed demand. (New York Times)
• Why is LinkedIn so cringe? The answer is in its business model and algorithm. (SatPost by Trung Phan)
• Why do we listen to tech moguls like Elon Musk? Musk is not the only blowhard from the Silicon Valley set, regularly mouthing off on topics ranging from negotiations between Ukraine and Russia, pronouns, sleep management, covid-19 and joke cryptocurrencies. He is just the most prominent. (Washington Post)
• Hot Sargassum Summer: Millions of tons of algae are landing on beaches around the Atlantic. What is this stuff, why is it here, and perhaps most importantly—what should we do about it? (Slate)
• Ranking the Top 25 Set Pieces From the ‘Mission: Impossible’ Franchise: A countdown of the best stunts, capers, and heists from the ‘Mission: Impossible’ movies, including ‘Dead Reckoning Part One.’ (The Ringer) see also Greta Gerwig’s ‘bold, inventive’ Barbie breaks the mould: This ‘joyous’ comedy – starring Margot Robbie and Ryan Gosling – is sure to be nominated for many awards, writes Nicholas Barber. (BBC)
• How Drake won: The Canadian, biracial, Jewish, middle-class, former child actor has reshaped rap, pop, and the masculinity wars. (Vox)
Be sure to check out our Masters in Business interview this weekend with Jawad Mian, CFA and Chartered Market Technician, who runs the independent global macro research and trading advisory firm Stray Reflections. The firm’s focus is on major investment themes, and its clients include many of the world’s largest hedge funds and alternative asset managers.
More fear last 2 years than during the GFC?
Source: @MikeZaccardi
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