10 Tuesday AM read – big picture

Chaos is becoming the rational basis case in a market ruled by fear: Wall Street’s highest S&P 500 target underperformed by a rare 50%; Post-Pandemic World Fed, Harder to Predict for Businesses (Bloomberg) see more Thirteen ‘perfect storms’ that are sweeping the world right now. How often can the ‘perfect storm’ happen? Many industries have been hit by challenges, resulting in shortages, price hikes and other disruptions. In the podcast, the phrase ‘perfect storm’ has been invoked to describe everything from oil, grain, wood pallets to coffee beans and even bathtub shortages. (Bloomberg)

The ruins of bidenomics: Fortunately, we have a good idea of ​​where to go from here. 15 months later, it seems my optimism was unwarranted. Yes, both FDR and Reagan accomplished much less than that (their policy revolutions were accomplished by their successors). But they did achieve something, not least FDR’s New Deal, and Reagan’s massive tax cuts and anti-union policies. By comparison, Biden has two pieces of legislation. (nohpinion)

China’s economic engine continues to shrink: The country’s working-age population could decline by two-thirds or more by the end of this century, according to new United Nations estimates. (Bloomberg) see more China is a pariah for global investors as Xi’s policy backfires: ‘It’s easy to put China aside,’ Rafer Smith says Citi found ‘surprisingly low levels’ of client engagement. (Bloomberg)

How three arrows blow up capital and set off a crypto contagion Su Zhu and Kyle Davies have made 3AC the most important hedge fund in crypto, but they’re betting on everything going up. (Business Week)

Last time inflation was this high: As today there was still energy crisis. Even in the early 1980s the Fed was tightening monetary policy to fight inflation. And people were increasingly dissatisfied about the economic situation. But there are many differences between now and the late 1980s-1970s. (Common Knowledge Resources) see more Inflation remains a problem – no thanks to consumer resilience: Good news is bad news, although some bad news is good news. (TKer)

Tech workers got what they wanted for a long time. it’s over. Employees who changed jobs during the pandemic received pay bumps and permission to work remotely. Those benefits are now under threat. (Wall Street Journal)

Case against Elon: The lawsuit Twitter lawyers filed this week in Delaware underscores the depth of Musk’s legal troubles The legal battle is just beginning. (Pak) see more 15 revelations in Twitter’s lawsuit against Elon Musk: What Twitter’s 62-page lawsuit does is unravel much of the secrecy surrounding the deal, which is already the subject of leaks (primarily from Musk himself) and endless speculation. Here are some of the biggest revelations from the case. (New York Magazine)

Complaints to the government appear to slow Americans’ frenzy over spam calls People who have reached the limit of their patience with spam calls are emailing Federal Communications Commission Chairwoman Jessica Rosenworsel in a desperate attempt to stop unwanted calls from scammers and robocallers. The emails paint a picture of desperate people who just want the phone to stop ringing (vice)

A Golden Age: Shining Decline and Decline. One of Carter’s innovations as editor: He supercharged Vanity Fair’s sense of exclusion, turning the magazine into a respected event. There’s an issue dedicated to Hollywood’s newest stars, an issue celebrating business leaders, and a party held annually in honor of the Oscars. (race) see more The world’s most amazing private library: Join Book Clubs – From New York to Naples! (Financial Times)

The Rise and Fall of the Sad White Men: Novels about middle-class male malaise are now considered passé but were once groundbreaking and poignant (Critic)

Be sure to check out our Masters in Business this week with Antti Ilmanen, Co-Head of AQR Capital, Portfolio Solutions Group. Ilmanen’s market theory and research is highly respected, and he has won multiple awards, including the Graham and Dodd Award, the Harry M. Markowitz Special Distinction Award, multiple Bernstein Fabozzi/Jacobs Levy Awards and CFA Institute’s Leadership in Global Investments Award. His recent book “Investing in low expected returns

A strong dollar sees no end to the rally

Source: Wall Street Journal

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