My mid-week morning train reads:
• Things You Don’t See in A Recession. Incredibly, many strategists and economists continue to say we are headed for a bear market and a recession in ’24. That’s right, it is Outlook season and some of the forecasts for ’24 have been quite dour. The good news is we’ve been hearing this from the same crowd for well over a year now and things continue to chug right along. (Carson)
• Macy’s Billion-Dollar Question: What’s More Valuable, Real Estate or the Business? Some analysts say retailer’s ownership of hundreds of stores is key to investors’ buyout bid. (Wall Street Journal)=
• Risky Exchange-Traded Notes in Spotlight With Arrival of ‘XXXX’. The MAX S&P 500 4X Leveraged ETNs, which launched last week with the eye-catching XXXX ticker, promise to quadruple the daily returns of the benchmark index. That makes them the highest-leveraged trade of their kind currently available to American investors, according to CFRA Research. They charge a fee of 0.95%. (BNN Bloomberg)
• This Is What Happens to All the Stuff You Don’t Want: I ventured into the belly of the holiday-returns beast. (The Atlantic)
• What Ails Offshore Wind: Supply Chains, Ships and Interest Rates: Government officials and energy developers misjudged the difficulty of building huge clean energy projects in the United States, which has built very few of them. (New York Times)
• The war on ‘junk fees’ is gaining ground, but the fight is not yet won: If you’ve rented a car, bought an airline ticket, booked a hotel room or paid a cable bill, you probably know what the White House is talking about: hidden, surprise charges for services you may not even have used, transaction charges for buying online or downloading a concert ticket instead of picking it up at the box office, etc., etc. (LA Times)
• What It’s Like Working in a Building Shaped Like a Hot Dog: Owning “mimetic architecture”—structures designed to look like what they sell—is great advertising, but it can be a headache. (Businessweek)
• Turf War: What the pickleball drama tells us about American cities. (Slate)
• One Texas case shows why women can’t rely on legal exceptions to abortion bans: Kate Cox’s case speaks to the “hellish” legal limbo these bans put patients, and providers, in. (Vox)
• The weird world of celebrity training: how Taylor Swift, Beyoncé and Madonna get in shape for their shows: It takes incredible stamina to sing and dance for three hours night after night after night. Fitness professionals talk us through the stars’ regimes. (The Guardian)
Be sure to check out our Masters in Business 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.
See for yourself just how good the economy is doing from multiple indicators
Source: Spilled Coffee
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