My morning vacation plane reads:
• The Era of Easy Money Is Over. That’s a Good Thing. The end of artificially cheap money should herald a fairer, more sustainable economy. Americans just have to survive the transition. (The Atlantic)
• The Biggest Winners and Losers From the Work-From-Home Revolution: Remote or hybrid work has become the new normal for millions of people. We are only just starting to see the impact. (Wall Street Journal)
• Drought as a trigger of the rapid rise of professional skateboarding in 1970s Southern California. In 1977 California, authorities responded to an extreme drought with an unprecedented state order to drastically reduce domestic water usage and leave countless newly built swimming pools empty. These curved pools became “playgrounds” for inspired surfers to develop professional vertical skateboarding in the Los Angeles area. Industrial production of polyurethane, and the advent of digital photography, laser printing, and high gloss mass media further contributed to the explosive popularization of skateboarding, creating a global subculture and multibillion-dollar industry that still impacts music, fashion, and lifestyle worldwide (Oxford Academic)
• JPMorgan Is in a Fight Over Its Client’s Lost $50 Million Fortune: The bank claims it was acting on an investor’s wishes to take risks. His family, and doctors, say he was slipping into dementia. (Bloomberg)
• Don’t expect too much from the U.S.-China detente: A thaw is in the air, but Chimerica isn’t coming back. (Noahpinion)
• Who Will Manage the US Climate Retreat? Federal efforts to protect communities from climate disasters with buyouts and resilience projects are often fractured and poorly coordinated. Is there a better way? (Citylab)
• How ancient civilisations dealt with trauma: As the conflicts in Gaza and Ukraine continue, there’s deepening concern for the trauma that may come later. But war has been around for millennia. How did our ancestors cope? (BBC)
• ‘Bidenomics’ is a big hit — outside the US: The president’s signature climate law, with its massive subsidies and push for domestic manufacturing, has leaders across the UK, Australia and Europe scrambling to follow suit. But American voters seem unimpressed. (Politico)
• Small segment of voters will wield outsize power in 2024 presidential race: The electoral college system empowers a sliver of the U.S. population in a diminishing number of battleground states. And the majority may not even prevail. (Washington Post)
• ‘They told me: you’re too loud and you put on 10lb’: Annette Bening on success, surgery and surviving Hollywood: She was 30 when she got her big break – and spent a decade being asked about her marriage to Warren Beatty. As she stars in the astonishing biopic Nyad, she talks about sexism, motherhood and almost being cast in Dangerous Liaisons. (The Guardian)
Be sure to check out our Masters in Business with Michael Rockefeller, Co-Chief Investment Officer and co-founder of Woodline Partners, managing $7 billion in assets. Launched in 2019 with around $2 billion in initial assets, it was one of the fastest-growing emerging funds over the past few years. The hedge fund implements a market neutral equity strategy, focused on generating “idiosyncratic alpha” and “avoiding systemic risk factors.” Previously, he worked as a Portfolio Manager at Citadel Global Equities and as an Analyst at Millennium Management.
An Aggressive Style of Share Buyback Is Having a Moment
Source: Wall Street Journal
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Yay, vacation starts today! Very light posting for the rest of the year!
