The morning of my return to work
the train WFH reads:
• How to Beat the Stock Market Without Even Lying: Stock funds are pulling a switcheroo to make their returns look better: When they don’t measure, they change how they measure. (Wall Street Journal)
• Remote work is blocked: About a third of all service jobs and just 10% of manufacturing jobs in the region were done remotely — a huge jump from 8% and 3%, respectively, before the pandemic. (Liberty Street Economics) see more Pizza? Bagels? no Employees need your Ban Me to get back to the office. Staff schedule individual days around food offerings: burritos filled with soft tofu, grilled squash and zucchini; ‘I’d definitely go for it’ (Wall Street Journal)
• Falling oil prices defy predictions. But what about the next chapter? Oil is below $90 a barrel and consumers are benefiting. Geopolitics, economics and unforeseen events will determine whether the relief lasts. (New York Times)
• Conservatives fight against Blackrock: A conservative group known for targeting “wicked capitalism” has launched a multimillion-dollar campaign attacking BlackRock and its CEO Larry Fink for “weaponizing” pension funds by pushing for more ESG investments, which promote environmental, social and governance responsibility. (Axios)
• How the US Toppled the World’s Most Powerful Gold Trader: JPMorgan’s former gold boss pleaded guilty last week. (Bloomberg)
• How to Investigate Your Next New York Apartment Like a Reporter: A raccoon attack. Human feces in the lobby. Flood. Avoid these apartment nightmares by reading a ProPublica investigative reporter’s guide to backgrounding your next New York City rental. (ProPublica) see more ‘Screw the City’: There’s never been a worse time to rent an apartment in NYC: Bidding wars and record prices are leaving tenants frustrated and without many options. (Bloomberg)
• Spies protecting crypto from hackers are looting money: VC investment in crypto security firms surges this year ‘We’ve spent too much money on audits,’ crypto CEO says. (Bloomberg)
• You have no idea that mosquitoes smell us Insects have an infinite backup plan to prey on us. (Atlantic)
• My week with the smartest* people in America: “What can be done for the community for someone who, as described to me, feels absent in their daily lives and wants somewhere to be,” Loftus said on the podcast, My Year in Mensa. “A society with unclear goals whose selling point is superiority is not a healthy place to find it.” (New York Magazine)
• The ‘real’ home-run record is 73, not 61: If you’ve paid any attention to sports talk over the past 20 years, you’ll also know that the names Bonds, McGwire and Sosa no longer stand for home-run power — not anymore. Now they stand for steroids. Which means to most people, they stand for deception. That’s why for some, a narrative is beginning to coalesce around Judge’s epic season: It’s for the record. Because the marks of Bonds, McGuires, and Sosa were viewed as “tarnished”, the idea arose that if Judge was able to surpass Maris’ team and AL marks, he should be the true, true home run king. (New York Magazine)
Be sure to check out our Masters in Business interview with Bill Browder, founder of Hermitage Capital Management and author of this weekend. Red Notice: A True Story of High Finance, Murder, and One Man’s Fight for Justice And Freezing Order: A True Story of Money Laundering, Murder, and Surviving Vladimir Putin’s Wrath.
Is the Federal Reserve coming to the end of its tightening in the current cycle?
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