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My two tuesday mornings train WFH wrote:
• How to think about the Covid recession This is an unprecedented decline in recent memory. The pandemic’s downturn is driven by all those industries that should be able to withstand the recession-the use of electricity for dentists, offices and shopping malls, etc. Despite the economic downturn, the enrolment rate in the normally countercyclical education sector has fallen sharply. (New York Times) You can also take a look The economic rebound of Covid-19 is easy.Now is the hard part. As supply chain disruption worsens and inflation increases, executives and policy makers must make subtle transitions to a more normal economy (Wall Street Journal)
• The inherent futility of ES(G) investment As predicted by financial theory, stocks of companies with good environmental, social and corporate governance (ESG) records underperform the market. But the problems facing ESG investors don’t stop there. Worst of all, the performance of ESG funds lags behind non-ESG funds operated by the same managers. (Consultant’s point of view)
• We self-imposed good places are scarce We need to learn how to separate form from (current) function. In fact, our lack of good places is almost entirely self-imposed. It is precisely because 98% of North American built environments are so ridiculous that 2% of truly well-designed environments are quickly bid for by the rich, and the rest of us cannot enter. The solution to this problem is not to stop creating such places, but to create more places. (Strong town) You can also take a look Zillow withdraws from the home flip business, citing the inability to predict prices Benjamin Keys, a professor of real estate at the Wharton School of Business at the University of Pennsylvania, said: “It feels like this is going to be a very difficult time to buy and sell homes at a loss.” “This is a time frame where prices have risen sharply in many places.” (Wall Street Journal)
• Rich Millennials To Financial Advisors: Thank you for the golf invitation, but you can’t invest my money Wealthy young investors think that the wealth management companies their parents rely on are of little use. They would rather choose their own stocks or invest their money in cryptocurrencies. (Wall Street Journal)
• The courier is broken.This is the way to fix it. Holiday shipping has made supply chain problems worse, but there is still hope next year. (Recode) You can also take a look We rented a ship with a logistics expert to observe port congestion up close and see how American greed caused shortages and empty shelves The ports of Los Angeles and Long Beach are on the front lines of the shipping crisis. Container ships are anchored on the coast. Some container ships have been waiting to dock since late August. (Yahoo)
• Where did all the food and beverage workers go? help Wanted. I really want many food and beverage companies to face this situation. Getting people to work in food factories has been difficult. The pandemic has exacerbated this difficulty. Labor shortage is now the first problem for many food processors (not just food processors). This is the main reason for the problems that plague the entire food supply chain. (food processing)
• Bitcoin for open-minded skeptics From experience, Bitcoin is one of the best investments of the past decade, but it is still controversial. Is it a new form of currency? Speculative bubble? Or is it both? (Matt Huang) You can also take a look 7 things about Bitcoin (institutional investors) Many investors and institutions ask us: What else should we read to understand Bitcoin more intelligently? Here are some favorites. (Matt Huang)
• The golden year of bad vaccines may contain a disturbing message At a time when inflation is soaring, the strange fall in metals may indicate that the bond market may lose its temper and the stock market will pull back. (Bloomberg)
• What is the “right-click mentality”? Twitter memes reveal everything you need to know about NFTs and the surrounding culture. (vice) But see also Right-clicker mentality: NFT has exploded into a huge speculative bubble full of fraud. It is burning the carbon value of the entire rainforest while transferring billions of dollars from suckers to crooks. (Multiple)
• Eliud Kipchoge: Inside and thoughts of the camp of the greatest marathon runner of all time He is the greatest marathon runner in history, a national hero of Kenya, and an idol of runners all over the world. But despite his fame and fortune, Erud Kipchoge chose the most basic lifestyle. Cathal Dennehy traveled to the highlands of Kenya to learn more about his training camp and meet a quiet and complex champion (Irish Examiner)
Be sure to check our Master of Business interview This weekend with Tom Gaynor, MarkleThe co-president and chief investment officer of this financial holding company is called “the next Warren Buffett.” From 2000 to 2015, Gehner’s average annual return was 11.3%, while the S&P 500 index of large US stocks returned 4.2% (including dividends).
Top 10 global sovereign wealth funds have assets of US$7.43 trillion
source: Fenbold
Post 10 Tuesday morning reading First appeared in Big picture.
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