My two-for-Tuesday morning
the train WFH reads:
• When does the bear market end? As with many things in the market, there are no hard and fast rules for such things, especially in real-time. (Common Knowledge Resources) see more Counter trend? Generally, secular bull and bear markets are best characterized after the fact—something that allows for accuracy but is useless to investors. In real-time, you have to guess and place your bets. (TBP)
• You can make any data look bad if you try: Let’s review 9 volatile market observations that miss the point. (TKer)
• How can inflation be both 0% and 8.5% at the same time? Consumer prices did not rise in July. But that doesn’t mean they aren’t rising. Is inflation now 0%? (Bloomberg) see more The market’s top inflation story fights the Fed There are no signs that the Fed will change its mind and agree to cut rates again next year. (Wall Street Journal)
• Chinese debt shunning and saving, threatening global growth engine Domestics are pessimistic about their prospects, with consequences for local giants as well as multinationals diminishing. (Business Week)
• The space with the most lithium is fueling the electric-car revolution: A California-sized chunk of South America is shutting down production of the metal at a time when battery makers desperately need it (Wall Street Journal) see more Why renewable subsidies are better than carbon taxes: Democrats got it right, and economists left it in the dust (Noopinion)
• The Secret Life of the Leftovers. Cheese, curry, beer: we can thank our ancestors who put food scraps to creative use. What we are leaving our children is garbage. (New Atlantis)
• Hidden inside the Deflation Act: $20 billion to help fix our farms Agriculture destroys the environment. Biden’s inflation bill could help blunt the impact. (Vox) see more How the Inflation Reduction Act could affect you — and change the United States The package, though smaller than Democrats’ initial ambitions, would transform huge sectors of the US economy and affect millions of Americans (Washington Post).
• For electric vehicle makers, for winners and losers in the climate bill: It may take several years for automakers to restructure their supply chains to meet the new rules, but the law is still seen as a win for electric vehicles. (New York Times)
• Summer of NIMBYs in Silicon Valley’s poshest town: Tech industry moguls and investors, who support housing relief, unite to object to a plan for multifamily homes near their estate in Atherton, Calif. (New York Times) see more VC billionaire Marc Andreessen and ultra-wealthy neighbors block housing in California town: Andreessen has been a critic of anti-housing zoning in the past. (Bloomberg)
• The Yankees dream of a World Series. Their nightmare is Aaron Judge on the Mets. A star outfielder bets on himself and delivers the season of a lifetime. Someone is going to pay. (Wall Street Journal)
Be sure to check out our Masters in Business interview this weekend with Ken Tropin, chairman and founder of Graham Capital Management, a multi-strategy quantitative hedge fund managing $17.2 billion. Previously, he was at hedge fund John W. Was president and CEO of Henry & Company, working with legendary businessmen such as John Henry and Paul Tudor Jones.
Wall Street, like the climate bill, is betting on both green energy and fossil fuels
Source: Wall Street Journal
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