the train WFH reads:
• ‘Stonx’ isn’t the only reason businesses should know their memes: Know Your Meme, a leading online encyclopedia for memes, wants to turn its massive database into a profitable software tool for tracking Internet trends. (Bloomberg)
• How passive is the market, really? How much of the stock market is owned by passive investors like index funds? The answer is more complicated than you might think, but some academics have taken a good stab at finding out. (Financial Times) But see also Actively managed money dwarfs the passive: Ignore the hype. Actively managed funds dwarf assets in low-cost index funds. (large image)
• So is ESG investing harmful, or not? Gov. Ron DeSantis and other GOP pols try to stop sustainability-focused investments, charging that it produces poor results. (Chief Investment Officer)
• The period of abundance is over: Jeffrey Gundlach, CEO of DoubleLine, worries that the Federal Reserve is overreacting in the fight against inflation. He anticipates a severe downturn in the economy and explains how investors can navigate today’s challenging market environment. A conversation with the Bond king. (market)
• A job market anomaly begins to correct: After a brief deviation, the business and household surveys of employment are heading in the same direction again: up. (Bloomberg)
• San Francisco braces for epic commercial real estate crash: Properties most at risk are mid- to low-rise buildings purchased near the top of the market (San Francisco standard).
• Some wardell players use a series of starting words, but when they do, it’s ADIEU What data tells us about how people play games. (New York Times)
• Russia privately warns of deep and prolonged economic damage The confidential document contrasts with upbeat public statements in reports that key sectors are facing sharp declines in output, brain drain. (Bloomberg) see more US intelligence says Russia is buying millions of rockets and shells from North Korea Officials said the deal shows Russia is facing supply shortages due to the invasion of Ukraine. (parent)
• Long exposure to the Republican Party: Three books explore the history of fragile extremism before Donald Trump (Atlantic)
• Big bucks go down in Montauk, a surfer’s paradise: A prized stretch of Long Island’s East End overlooking acreage has been vacant for years. Now they are sold in multi-million dollar deals. It has been the talk of the beach all summer. (New York Times)
Be sure to check out our Masters in Business next week with Kristen Bitterly Michel, Head of North America Investments at Citi Global Wealth. She has been on various “Most Powerful Women in Economics” lists, including American Banker, Crain’s Rising Stars in Banking and Finance 2020. Citi Global Wealth manages more than $800 billion in client assets, and North America accounts for nearly half of that business.
BC-2021 climate change
Source: Weather and Climate @ Reading
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