My mid-week morning Turkey travel day reads:
• The Hidden Hero Fueling Soft-Landing Hopes: A Boost in Supply: Rising labor force, productivity lowered inflation despite still-strong growth, taking pressure off Fed to raise rates. (Wall Street Journal)
• The New Economic Geography of the Housing Shortage: How the Pandemic Accelerated Home Price Increases in America’s Once-Affordable Areas. (Apricitas Economics) see also How Everybody Miscalculated Housing Demand (2021): The hangover from GFC arrives, and new home construction grinds to a halt. Builders shift to multi-family and apartment buildings. It will take more than a decade for new single-family home construction and sales to return to their pre-boom average. Post GFC Household formation is weak, as fewer young people are getting married, starting families, buying homes. No one seems to notice the increase in population + delayed marriages as postponed, future home buyers. (The Big Picture)
• Falling fuel prices and airfares bring relief ahead of US Thanksgiving: “Americans are set to enjoy their least expensive Thanksgiving holiday since the pandemic, as falling transportation prices and lower costs for festive food basics such as turkey and potatoes bring relief after months of rampant economy-wide inflation. Falling fuel prices and airfares bring relief ahead of US Thanksgiving “Americans are set to enjoy their least expensive Thanksgiving holiday since the pandemic, as falling transportation prices and lower costs for festive food basics such as turkey and potatoes bring relief after months of rampant economy-wide inflation. (Financial Times)
• The Biggest Hidden Bias in Politics: Pundits, political analysts, and political scientists all have a serious bias that makes them misunderstand our world. And…it can help you make sense of your crazy relative this Thanksgiving, too. (The Garden of Forking Paths)
• A 30-Year Trap: The Problem With America’s Weird Mortgages: One big reason the U.S. housing market is broken: Owners don’t want to give up their cushy old loans. (New York Times)
• From airlines to ticket sellers, companies fight U.S. to keep junk fees An array of powerful moneyed lobbyists have warred with the Biden administration over its new regulatory crackdown as they scramble to protect their profits. (Washington Post)
• ‘Aging is a disease’: Inside the drive to postpone death indefinitely: Longevity has become an industry, a subject of bestsellers, podcasts and newsletters. But is a life meted out in metrics, often for a price, worth it? (Washington Post)
• Some People Are Just Lucky. You Can Make Yourself One of Them. Unlucky people skip over opportunities right in front of them. Make sure you don’t miss out. (Wall Street Journal) see also 40% of people willfully choose to be ignorant. Here’s why: We all have a place in our lives where we look the other way and pretend everything is fine. It’s a built-in excuse to act selfishly. (Big Think)
• The Invisible War in Ukraine Being Fought Over Radio Waves: Using electromagnetic waves to flummox and follow smarter weapons has become a critical part of the cat-and-mouse game between Ukraine and Russia. The United States, China and others have taken note. (New York Times)
• Jezebel, the Oral History: ‘There Was This Riotous Sense of Fun’ The site defined an era of feminism for millions of readers. According to its editors and writers, it was also an exhilarating place to work. (New York Times)
Be sure to check out our Masters in Business this week with Brad Gerstner, founder and CEO of Altimeter Capital. The tech-focused fund started in 2008 and invests in both public and private firms. Gerstner began as an entrepreneur and has had multiple exits, including travel startup NLG (to IAC). Openlist.com, (to Marchex) and Farecast (to MSFT). He also was an early investor in Zillow, Real Self, Nor 1, Instacart, Expedia, Silver Rail Tech and Room 77. After returning $7B in profits to its LPs, Altimeter manages currently manages $10B in assets.
Market crashes in context
Source: @BrianFeroldi
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