The morning of my return to work the train WFH reads:

What stock market bottoms look like: Life would be easier if it was like this. But if everything is clear in the stock market, it will not offer such excellent long-term returns. (Common Knowledge Resources)

America is unleashing its economic arsenal: Targeted actions are becoming a larger part of US foreign policy. (Business Week) see more US chip ‘nicap’ ban on China’s tech industry: The toughest export ban yet has cut off AI hardware and chip-making equipment vital to China’s commercial and military ambitions. (of wire)

US banks benefit from Fed rate hikes by keeping deposit rates low Wall St. is charging more for debt but setting aside money for a possible recession. (Financial Times)

Bad news is good news: 52-week lows tend to cluster, and right now we find ourselves in that environment. The S&P 500 has experienced thirteen 52-week lows this year…more than we’ve seen in the entire last decade. (irrelevant investors)

Twitter only faced bad results when the $44 billion Musk deal closed: The company has been hit by drama over contracts, and things look grim going through it. (Business Week)

San Francisco’s empty train cars spell trouble for public transit: The Bay Area has experienced the nation’s sharpest decline in ridership during the pandemic and a fiscal cliff looms. (Bloomberg)

AI is coming: Now it’s possible to create a stunning animation from scratch in thirty seconds by typing a prompt. Really incredible. (Alex Macau)

Five decades into the War on Drugs, there is high bipartisan support for decriminalizing marijuana: Americans agree that the nation’s marijuana laws need an update. 6 in 10 American voters said weed should be legal in the US in a poll conducted before the amnesty on October 6; 7 in 10 among voters younger than 45 (72%), Democrats (71%) and black voters (72%), Republicans (47%) and voters 65 and older (45%). (five thirty eight)

‘Almost Famous’ heads to Broadway, purple aura intact: Cameron Crowe adapted his Oscar-winning screenplay about writing for Rolling Stone in the ’70s, saving parts of the film soundtrack and the zinger (Don’t Take Drugs!) for the stage. (New York Times)

Bigfoot in Baltimore: Justin Tucker is the surest thing in football. But he also gets nervous thinking about that kick. (Wall Street Journal)

Be sure to check out our Masters in Business this week with Tom Rampulla, Managing Director of Vanguard’s Financial Advisory Services division since 2002. He manages businesses that provide investment, services, education and research to more than 1,000 financial advisory firms. $3 trillion in assets.

What do millionaires invest in?

Source: Alpha Architect

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