10 Thursday AM Reads

My morning train WFH reads:

Peek Inside America’s Largest Privately Owned Company: Cargill’s business model has worked for 158 years. Follow the money and you’ll see it ain’t broken yet. (Bloomberg)

Indexing Is Still the Best Bet for Investors: History shows that even in ‘narrow’ markets, actively managed funds don’t do as well over the long term. (Wall Street Journal) see also You Might Be Paying Too Much for That Index Fund: Push toward zero-cost ETFs nears the finish line. (Wall Street Journal)

Jehoshaphat Research Comes Out of the Shadows: This activist short-seller is a veteran of institutional asset management. (Institutional Investor)

An oral history of the fear index: The Cboe Volatility Index — commonly known as Vix because of its ticker — turned 30-years-old earlier this year. But an arguably more important if less appreciated marker took place two decades ago today. (Financial Times)

The Geography of Working From Home Begins to Shift Again: Remote work was still most common in 2022 in neighborhoods strangely close to the office, but that could be changing. (Bloomberg)

Letting Go: Why Selling is so Hard to Do: For long-term investors in quality businesses, deciding to sell down or fully exit an investment can be an agonizing process. Behavioral biases and personalities can complicate these decisions. (Fly Over Stocks)

Aisle B, Back: A dispatch from the UK on retail security services. (The Fence)

America passed the EV ‘tipping point’ — but many buyers still want gas: Once EVs cross 5 percent of new sales, they generally take over. U.S. hesitation could hinder that. (Washington Post) see also Electric Cars Pass a Crucial Tipping Point in 23 Countries: Once 5% of new car sales go fully electric, everything changes — according to a Bloomberg Green analysis of the latest EV adoption curves. (Bloomberg)

How the fentanyl crisis’ fourth wave has hit every corner of the US: More Americans than ever are dying from fentanyl overdoses as the fourth wave of the opioid epidemic crashes through every community, in every corner of the country. (BBC)

The Game of Their Lives: Every week, a group of former pros gathers for what may be the best pickup soccer game in the world. The appeal is a chance to engage with the sport on their terms. (New York Times)

Be sure to check out our Masters in Business this weekend with Armen Panossian, incoming Co-CEO and Head of Performing Credit at Oaktree Capital Management, where he oversees all performing credit 2019 at Oaktree. Previously, he was at Pequot Capital Management managing distressed debt strategy.


Key Insights on Causes of Death

Source: Our World In Data


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