I’m coming back to work on a slow morning the train WFH reads:

Inverted yield curve: A bearish alarm is ringing on Wall Street: Every U.S. recession over the past half century has been preceded by an inversion of the bond market yield curve. It’s happening again. (New York Times)

Could never go wrong with the price: How the influence of popular value benchmarks challenges investor confidence in the style and even the business of some value managers. (Institutional Investor) see more The stock market is selling. That makes it cheap. Valuations fell at a record rate, but before Wall Street took account of slower profit growth. (Wall Street Journal)

Rush Rich Offload Luxury Property The wealthy are now paying attention to prices and their incomes, lamenting high-end agents in hotspots like Miami and San Francisco. “It’s quite sudden,” said one. (vice)

Depression: The medicine that is worse than the disease Some experts say we need a recession to reduce high inflation. it’s wrong Their economic models and views on inflation risk factors make a bad situation worse. (same)

Manhattan’s private clubs offer a new social lifeline for remote workers Amenities range from bars and workspaces to restaurants and spas, and many places have long waiting lists. (Wall Street Journal)

The incredible potential of autonomous ships: Autonomous ships are now crossing the oceans (Vox)

Your phone’s notification settings and the meaning of life Switching to a new phone is easy enough these days. The battered old model formed a huddle with the shiny oversized new one and effected an almost fully digital handover within minutes. One exception was notification settings. As soon as they reset to default, my new phone started beeping and ringing incessantly like a weird descendant of R2-D2 and a cheap vibrator. (Tim Harford)

An error in human judgment: How to make decisions is not as objective as you think. Daniel Kahneman on the role of ‘noise’ in human judgment, his long career studying cognitive biases and how systematic decision-making can lead to fewer errors (Science Friday)

How to control fertility like 1865: For centuries, controlling your period—and potentially terminating pregnancy—was legal under common law. (slate)

Why is Formula One’s fastest team not leading the championship?: Ferrari speed is world class. Its reliability and technique? Not too much. (five thirty eight)

Be sure to check out our Masters in Business interview this weekend with Graham Weaver, founder and partner at Alpine Investors, a private equity firm in San Francisco that invests in software and services and manages nearly $8 billion. Weaver holds an MBA from Stanford GSB and a BS in Engineering from Princeton. He started Alpine in his dorm room at Stanford’s Graduate School of Business, where he is now a lecturer, teaching both management and entrepreneurship.

The difference between median recession bears and non-recession bears is -35% vs. -22%.

Source: @teamerfidelity

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