My morning train reads:
• How the Writers Deal Got Done: Inside the Room: From the Chris Keyser-CEO calls that brought them back to the table to the ask that almost derailed the deal, a play-by-play of the final negotiations. (Hollywood Reporter)
• The art of keeping it simple, by JPMorgan’s Jan Loeys: “We feel that keeping things simple in finance, fewer assets, simple valuation rules, simple investment rules, is an underrated strategy and one that too few of us actively pursue as the mainstay of their strategic allocation.” (Financial Times)
• Levels Versus Rates: Why Inflation Is Slowing but Seems So High to Many (Fisher Investments)
• Detroit Knows It. Unions Know It. Biden Knows It. Everything Is About to Change in the Car Industry. Should Autoworkers Fear Electric Cars? Joe Biden promised a “just transition” for the industry. The United Auto Workers haven’t forgotten. (Slate) see also This Ford vs. GM Feud Could Shape the Future of EVs in America: Biden administration’s decision on $7,500 tax credit could determine China’s role in U.S. electric-vehicle industry. (Wall Street Journal)
• Citadel Is Ready to Fight With SEC Over WhatsApp Probe: Ken Griffin’s hedge fund discusses legal plans with peers SEC is investigating money managers’ recordkeeping practices (Bloomberg)
• How Rupert Murdoch Outfoxed American Media: As the 92-year-old billionaire steps down as chairman of his empire, a look back at how he changed the landscape of newspapers, TV, movies and politics—and the coming fight over, yes, succession. (Forbes)
• Blasting Bullhorns and Water Cannons, Chinese Ships Wall Off the Sea: This is what it looks like when a Chinese naval vessel bears down on your fishing boat. We know because we were there. This boat was carrying Times journalists off the island of Palawan, in the Philippines, looking at how China was imposing its territorial ambitions on the South China Sea. An international court says China has no claim to these waters. The Chinese navy boat guarding Mischief Reef said differently. (New York Times)
• The Return of the Marriage Plot: Why everyone is suddenly so eager for men and women to get hitched. (The Cut)
• Vivek Ramaswamy’s Frenetic Campaign Keeps Winning Over MAGA Die-Hards: The candidate’s chances for winning the GOP nomination may be slim, but no one on the debate stage has drafted off Trump so successfully—or said such wild things. (Businessweek)
• Everything You Need to Know About Getting Your Genome Sequenced: DNA sequencing can assess your risk of developing certain diseases. It could even help provide medicines personalized to your genes one day. Governments want you to get involved. (Wired) see also Humans Can’t Quit a Basic Myth About Dog Breeds: Breed doesn’t have that big an effect on a dog’s personality; “Breeds don’t have personalities. Individuals do.” (The Atlantic)
Be sure to check out our Masters in Business next week with Gary Cohn, Assistant to the President for Economic Policy and Director of the National Economic Council from 2017-2018; he was President and Chief Operating Officer of The Goldman Sachs Group from 2006-2016. Currently, he is Vice Chairman of IBM.
Only Richest 20% of Americans Still Have Excess Pandemic Savings
Source: Bloomberg
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