My Two-for-Tuesday morning train reads:
• Attention Office Resisters: The Boss Is Counting Badge Swipes: Employers step up monitoring of in-office attendance, though efforts can alienate workers or prove difficult to implement; watching for ‘badge pirates. (Wall Street Journal) see also Why America Has a Long-Term Labor Crisis in Six Charts: While the hot pandemic-era job market is cooling, it is set to remain tight for years. (Wall Street Journal)
• Greece, Battered a Decade Ago, Is Booming: It is one of Europe’s fastest-growing economies, and while investors and tourists are flocking to the country, memories of austerity measures are still fresh for Greeks. (New York Times)
• How to Outperform: There are fewer and fewer informational advantages today because information is so readily available to every investor. It becomes harder to outperform in a world with more information for all investors. Since Reg FD was introduced, alpha in the hedge fund space has all but vanished.1 You could also make the claim that the past couple of decades has been one of the hardest environments ever to outperform. (A Wealth of Common Sense) see also The Market-Beating Investment That’s Defying Wall Street Skeptics: Rising interest rates are boosting risky corporate-loan returns instead of hurting them. (Wall Street Journal)
• How Ozempic and Wegovy Could Break the Healthcare System: Between cost and demand, the latest breed of weight-loss drugs could transform healthcare in the U.S.—for good and ill. (Barron’s)
• Rupert Murdoch Turned Passion and Grievance Into Money and Power: The retiring Fox leader built a noise-and-propaganda machine by giving his people what they wanted — and sometimes by teaching them what to want. (New York Times) see also His malign influence isn’t going anywhere: The truth is, of course, that it’s hopelessly premature to declare as dead and done the impact Murdoch has had on newspaper and cable journalism, and on American politics generally. The DNA he injected into the American bloodstream is a hardy virus indeed. (Los Angeles Times).
• Fact-checking some dull bits of Elon Musk’s biography: Such highlights are rare within the tale of how a talented oddball rolls consecutive sixes in the game of life, becomes rich enough to indulge all his whims, then catches brainworms from a social media website. (Financial Times)
• Devastating photos reveal how an extreme heat wave is wrecking Florida’s coral reef: Photos from before and after record temperatures struck Florida show the wrath of climate change. (Vox) see also ‘This could be the holy grail to replace palm oil’ – research team: A Scottish research team believe they may have produced the “holy grail” alternative to palm oil. (BBC)
• Republican vitriol against prosecutors may spur violence, ex-lawmakers warn: ‘Unprecedented and extremely dangerous’ attacks threaten justice system and prosecutorial independence, say former politicians. (The Guardian)
• How To Get The Best Sleep Of Your Life: Six Secrets From Research: The health negatives of not getting enough sleep are serious. Research has found risk associations between short sleep and hypertension, cardiovascular disease, diabetes, obesity, and dementia. Sleeping less than six hours a night is associated with a 20% higher chance of heart attack. (Barking Up The Wrong Tree) see also Hard-Core Sleepers Obsess Over Their Snoozing Stats: Getting a good night’s rest becomes a new sport with spreadsheets, strategies and efforts to conk out…the competition. ‘His sleep scores are still neck and neck with mine.’ (Wall Street Journal)
• Their podcast is in trouble. A Biden-led crackdown may save them. A noncompete clause in a contract for two former sports-talk radio hosts could test new National Labor Relations Board guidance. (Washington Post)
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.
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