My morning train WFH reads:
• Auto Industry Is Flashing a Warning Sign on U.S. Economy: CarMax’s sales and profit plunged in the latest quarter, sending stock down 20%. (Wall Street Journal)
• Why a 60/40 portfolio is likely to beat the S&P 500 through 2035: This stock and bond strategy is so disliked — and it’s probably your best investment move for the next 10 years. (Marketwatch)
• How Timberland, Agriculture Can Fit Into Asset Owner Portfolios: Timber, farmland and other renewable resource investments provide steady returns, diversification and capital preservation. (CIO)
• America Cannot Lose the Robotics Race: The most crucial challenge of the AI race is coming into view. We need to get in the running. (The a16z Newsletter)
• The death rays that guard life: We disinfect water before we drink it. Germicidal ultraviolet could make airborne disease as rare as those carried by water. (Works in Progress)
• Millions of Workers Are Left Out of the ‘Low-Hire, Low-Fire’ US Job Market: ‘Sometimes it can be very disheartening because you start to devalue almost everything else you’ve done,’ says a job hunter who has applied for about 350 positions. (Bloomberg)
• The rise and rise of Zohran Mamdani: In a UK exclusive, the New York mayoral candidate says there’s no limit to the possibilities of his politics (New Statesman)
• Ancient port from Cleopatra’s time found underwater in Egypt During her hunt for the Egyptian queen’s lost tomb, National Geographic Explorer Kathleen Martínez uncovered the sunken landscape near the ruins of Taposiris Magna. (National Geographic)
• Appeals court judges publicly admonish Supreme Court justices: ‘We’re out here flailing’ “They’re leaving the circuit courts, the district courts out in limbo,” one judge said during appeals court oral arguments that turned into a venting session about the high court’s terse emergency rulings. (Politico) see also How Originalism Killed the Constitution: A radical legal philosophy has undermined the process of constitutional evolution. (The Atlantic)
• A Vast ‘Cosmic Web’ Connects the Universe—Really. Now, We Can Emulate It. An emulator called Effort.jl can drastically reduce computational time without sacrificing accuracy, which could help solve longstanding mysteries about the cosmos. (404)
Be sure to check out our Masters in Business this week with Jose Minaya, Global Head of BNY Investments and Wealth. He is also a member of BNY’s Executive Committee. Previously, he was CEO of Nuveen, the asset manager of TIAA; Jose previously served as Nuveen’s President and CIO
Portion of Housing Units Built Before 1960
Source: Reddit
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