10 Thursday AM Read – The Big Picture

my morning the train WFH reads:

Could this little European fund be the spark for the ‘vanguard of hedge funds’? Hedge fund replication — which can be thought of as a slightly more complicated version of a stock index fund — got a big boost from a smaller fund. Seven years after its launch, an SEI fund is beating all of its illustrious peers That may finally be enough to create this hedge fund’s replication moment. (Institutional Investor)

Things are clear as mud: This year has been all about inflation and interest rates. Rising inflation has killed stocks and rising interest rates. (irrelevant investors) see more The monster of uncertainty: It’s not whether you know what’s going to happen – you don’t and never have. Your forecasting intelligence is unchanged between ’21 and ’22; The only thing that is different is the ability to lie to yourself about it. (large image)

They fired Goldman’s star trading team, then raised the bank alarm: Goldman accuses a trading pair of accessing sensitive code en route to hedge funds They say they are being unfairly stigmatized for leaving together. (Bloomberg)

Strange contradictions rendering the US economy inexplicable: Thanks to the pandemic and how advanced economies have responded to it, we are in a very strange place indeed. The general relationship between one signal and another from economics has diverged in surprising ways. As the Federal Reserve (and the rest of us) tries to navigate this moment, here are the top paradoxes. (Quartz)

How realistic is inflation to return to around 2%? Many wise souls think that goal is achievable – despite heavy weather blocking the way. (Chief Investment Officer) see more US prescription drug prices have skyrocketed. What does the new Senate bill to reduce prices? A reading list of prescription drug costs and what can be done to fix them. (grid)

SoftBank has emerged as one of the big losers of the tech downturn. again CEO Masayoshi Son has vowed to hedge his aggressive investment bets but dived into the startup’s market cap last year. (Wall Street Journal)

We’re all behavioral, more or less: A taxonomy of consumer decision making How 17 behavioral biases relate to each other, to measures of cognitive ability, personality, and demographics. Most consumers in our nationally representative panel data exhibit multiple biases with significant cross-individual variation. Biases are positively correlated within individuals, especially after adjusting for measurement error. We reduce our 20 bias and standard preference measures to four behavioral common factors. (The Review of Economic Studies)

Why do rich people love quietly? The word for politeness is silence. I soon realized that silence was more than the absence of sound; It was an aesthetic to honor. Yet it was an aesthetic with who I was. Which many of us were. (Atlantic)

In two weeks, the Web Space Telescope is reshaping astronomy In the days since the mega-telescope began providing data, astronomers have reported exciting new discoveries about galaxies, stars, exoplanets and even Jupiter. (Quanta Magazine)

What’s the deal with water bottles? Once you start looking for drinks at standup specials, they’re everywhere … (New York Times)

Be sure to check out our Masters in Business interview this weekend with Anat Adamati, professor of finance and economics at the Stanford University Graduate School of Business. He is director of the Corporation and Society Initiative and a senior fellow at the Stanford Institute for Economic Policy Research, was named by Time magazine as one of the 100 most influential people in the world, and co-authored Bankers’ new clothes: What’s wrong with banking and what to do about it.

Food inflation is rampant throughout the world

Source: Bloomberg

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