My weekend morning
the train WFH reads:
• This 20% Nasdaq gain doesn’t mean we’re in a new bull market: Explosive rallies are actually more common in bear markets (MarketWatch)
• What the Great Mayonnaise Inflation Mystery Can Tell Us About Prices. Measuring price changes can be difficult and highly subjective. Mayonnaise is a perfect example. (Bloomberg)
• Is America’s job market “very good”? Federal Reserve officials want to reduce business demand for workers to put downward pressure on wage growth and control inflation. Yet hiring momentum remained strong through mid-July. (overshoot)
• YouTube still reigns as TikTok grows among teen social-media users, survey says More than a third of teens are on social media almost constantly, a Pew Research poll shows. (Wall Street Journal)
• It’s not just social media: Cable news has a big impact on polarization: It comes to the echo chamber, TV trumps online. (Ars Technica)
• clear content: Rude words are a constant, but their power to cause offense is flowing. Historians should know their flim-flam from their flutes. (Today’s History)
• Covid has settled into a permanent pattern – and remains harmful. That may not change anytime soon: In some ways, Covid increasingly looks like other respiratory infections — mild in many people, but sometimes severe in some high-risk populations. (statistics)
• China cannot invade Taiwan Taiwan: Direct growth will cripple Beijing (UnHerd) see more Why China does not attack Taiwan? Despite Beijing’s rhetoric, a full-scale invasion remains a risky endeavor — and officials believe the island could be forced to reunify. (foreign policy)
• Olivia Juliana Fundraising for Gen Z for Change, Matt Getz and Texas Politics The 19-year-old adopted a congressman and raised more than $2 million for abortion funds. Here’s what he wants to do next. (teen vogue)
• Inside Biden’s hot streak, from the poolside to the Capitol: As the president seeks to enact legislation that has eluded Democrats for decades, he made a key decision — to largely remove himself from the mix (Washington Post). But see also Dirk Brandon explained: Heroes America Doesn’t Deserve, Needs Heroes (Slowly Boring)
• Let’s get excited about the New York Mets (in a good way).: A struggling franchise climbs over Atlanta and takes command of the NL East (Wall Street Journal)
Be sure to check out our Masters in Business interview this weekend with Ken Tropin, chairman and founder of Graham Capital Management, a multi-strategy quantitative hedge fund managing $17.2 billion. Previously, he was at hedge fund John W. Was president and CEO of Henry & Company, working with legendary businessmen such as John Henry and Paul Tudor Jones.
About half of all mortgages in the United States are now considered equity-rich
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