My end-of-week morning train WFH reads:
• Report: Who Is Fleeing New York? Not Millionaires: A report found that New York is gaining millionaires, despite an earlier exodus, while lower-income families are being forced to leave, raising questions about the state’s tax policies. (New York Times)
• Big VC Funds Are Underperforming Smaller Ones and Their Future Is Dim: The smaller venture capital funds outperform large ones that have the presumed advantages of scale, brand, and experience, a report shows. (Institutional Investor) see also Salesforce Signals the Golden Age of Cushy Tech Jobs Is Over: Marc Benioff’s famously employee-friendly company is becoming more Darwinian—and providing a new model for Silicon Valley. (Businessweek)
• A lot of things are getting cheaper. Here’s why you probably haven’t noticed. Inflation is still above the Federal Reserve’s target, but many items are getting cheaper. The price of durable goods is deflating, though many Americans may not feel the impact. Groceries, healthcare, and other expenses are still inflating, hurting many Americans’ wallets. (Business Insider)
• Why Bonds Are Making a Huge Comeback: Traders are looking ahead to rate cuts as soon as March. (Morningstar)
• Don’t Roll Your Eyes: Looking the Part Could Land You That Job: Applying to be a programmer? Better grab a pair of glasses. Different jobs favor certain looks, new research shows. (Wall Street Journal)
• Seven Seats, 300 Miles: Kia Tries to Solve the Last EV Conundrum: Electric cars have yet to crack the massive market for an affordable family hauler; the EV9 from Kia may be about to change that. (Bloomberg)
• ‘We Go Where We Think We Can Have The Most Impact:’ Five lessons from successful local news startups. (Nieman Reports)
• Top 25 News Photos of 2023. Hamas militants launched a surprise attack in southern Israel, followed by thousands of Israeli air strikes in Gaza; a suspected Chinese surveillance balloon was shot down over the U.S.; extreme weather events affected people around the world; a devastating earthquake struck parts of Turkey and Syria; and much more. Here, we present the top 25 news photos of 2023. (The Atlantic)
• Best Comedy of 2023: It’s time to stop taking Jim Gaffigan for granted, and more surprising takeaways from specials, stand-up sets and other funny moments this year. (New York Times)
• The Story of Bruce Springsteen’s #1 Guitar Bruce Springsteen pays brief but heartfelt homage to his oldest musical collaborator: his old Fender electric guitar. “It’s such an integral part of me.” (Men’s Journal)
Be sure to check out our Masters in Business next week with Joel Tillinghast of Fidelity, where since 1989, he has managed the Fidelity Low-Priced Stock Fund (and others). Over his 32-year tenure, the fund has beaten 100% of peers, and outperformed the Russell 2000 benchmark by 3.49% annually, and has more than doubled the performance of the S&P 500.
S&P 500 momentum rarely goes from ‘oversold’ to ‘overbought’ within one month.
Source: @AndrewThrasher
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