My morning train WFH reads:
• A 3% Mortgage Rate in a 7% World? This Startup Says It Can Do That: Loan assumptions, which let a home buyer essentially take over a seller’s mortgage, are hard to find and hard to pull off. (Wall Street Journal)
• Why the UAW Strike Isn’t the Biggest Problem for Ford and GM: The labor action highlights the biggest issue: Can the auto makers afford to spend what it takes to thrive in the new world of EVs? (Barron’s) see also Where Are the Workers? A Look into the Decline in Immigration. (Federal Reserve Bank of St. Louis)
• Why the shrinking personal saving rate is… a good sign: The richer you get, the less you need to save. (TKer)
• Investment Funds Are Now Selling the Rock Songs They Bought: They will even take less than “fair market value” (Honest Broker)
• Making the Bull Case for India: As host of the G-20 and new maker of Apple iPhones, the country’s promise is compelling. But the emerging market is not without significant risks. (Bloomberg)
• What Nobody Tells You: The Unspoken Truth About Growth. Much of the developed world doesn’t understand how major transitions work, especially in midlife. (Sapient Capital)
• A Recent Court Ruling Will Help the U.S. Government Go After Cryptocurrency Criminals: Coinbase isn’t happy about it. (Slate)
• Elizabeth Warren created a federal agency once. Can she do it again? The Massachusetts senator explains why we need an FCC for Big Tech. (Vox)
• A New Map of the Universe, Painted With Cosmic Neutrinos: Physicists finally know where at least some of these high-energy particles come from, which helps make the neutrinos useful for exploring fundamental physics. (Wired)
• ‘He’s like a method actor’: the Japanese salesman who transforms into Jimmy Page In fascinating new documentary Mr Jimmy, the intricate and obsessive performances of Akio Sakurai showcase an unusual and ultimately moving talent. (The Guardian)
Be sure to check out our Masters in Business interview this weekend with Elizabeth Burton, Managing Director and Client Investment Strategist at Goldman Sachs Asset Management. Previously, she was Chief Investment Officer of Hawaii’s Employees’ Retirement System (“HIERS”). She was named to Chief Investment Officer Magazines’ 40-Under-40, as well as winning the 2017 Industry Innovation Award, and a Power 100 member in 2019.
Households running out of pandemic savings
Source: Torsten Slok, Apollo Global
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