the train WFH reads:
• 4 Common Sense Rules of Investing: Almost 60% of all calendar years have seen gains of more than 10%. More than one-third of all years experience returns of 20% or more. So you are more likely to gain 20% or more than a year’s experience in that time. (Common Knowledge Resources)
• Inflation Reduction Act: Their disrespect can be forgiven because this job is really a big deal. That’s a staggering cap on legislation passed by Democrats with their slim majority in Congress. They passed the American Rescue Plan, the Bipartisan Infrastructure Act, the CHIPS and Science Act, and now this, the Deflation Act. (Heather Cox Richardson) see more Hidden inside the Deflation Act: $20 billion to help fix our farms Farming often damages the environment. Biden’s inflation bill could help blunt its impact. (Vox)
• Five not-quite-impossible things the market believes A two-month rally in bonds and stocks—even taking the Nasdaq back into bull market territory—depends on a lot of people getting it wrong. (Wall Street Journal)
• Why a 1 percent buyback tax doesn’t scare investors away: Democrats hope the tax will encourage companies to spend more on workers and operations, but strategists think it’s unlikely to deter corporations from repurchasing their stock. (New York Times)
• These six cities are emerging as new expat hot spots As foreign workers flee to places like Hong Kong, which destinations are drawing the next generation of expats? (CityLab)
• Why is airline travel so miserable? Blame it on Florida: State obstacle course jams airspace over some of America’s most popular vacation spots, and problems across country (Wall Street Journal)
• Defamation lawsuits about election fraud put Fox on its heels: The case, filed by the Dominion Voting System, may be the most consequential First Amendment case in a generation. (New York Times)
• How many Russian soldiers have been killed in Ukraine? What we know, how we know it and what it really means: Estimates range between 1,351 and 43,000, but this much is clear: Russia has a manpower problem. (grid) But see also Pressure on Russia is easing: Recent numbers from major manufacturing powers suggest that exports to Russia are increasing. Exports to Russia from major manufacturing economies have been growing rapidly since April. If allies don’t act quickly to tighten sanctions and export controls, the Russian military may be able to make up for the loss of its equipment and advanced munitions—and prolong the war. (overshoot)
• Gavin Newsom’s plan to save the Constitution by trolling the Supreme Court: A new California gun law will force the Supreme Court to face the enormity of its worst decision in decades. (Vox)
• The LeBron James extension means the Lakers now have to do whatever it takes to win: The Lakers and LeBron James have agreed to a two-year, $97.1 million contract extension, sources told The Athletic’s Shams Charnia. The deal keeps James under contract with Los Angeles through at least the 2023-24 season. According to ESPN, James has a player option for 2024-25. His extension is worth $111 million over two years based on salary-cap increases. (athletic)
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.
A detailed picture of what’s in the climate and health bill
Source: New York Times
Sign up for our read-only mailing list here.