10 Wednesday AM Read – The Big Picture

My mid-week morning the train WFH reads:

Pulling back the curtain: What do millionaires invest in? On average, respondents hold 53% of their portfolio in equities. Home Bias shows that 83% of their stocks are US stocks. Only 10% put any assets in hedge funds, venture capital or private equity, but conditionally, they allocate 13% of their portfolio to these funds. (Alpha Architects)

Last time the Fed created a recession. From 1968-1982, annual inflation was 4% or higher in 14 of 15 years. Prices have increased by 5% or more within 12 years; More than 6% in 3 out of every 5 years and more than 10% on four separate occasions. For the current cycle, the inflation rate is above 3% from April 2021, so we are dealing with average price increases for about 18 months. (Common Knowledge Resources) see more Why I don’t think the Fed will stop: Pushback against rate hikes unlikely to succeed. (nohpinion)

Hedge fund managers paid for stockpicking geniuses aren’t showing much of it: The traditional strategy of mixing long and short equity bets did not provide the bear market buffer that clients had hoped for. (Business Week)

Sage of Wall Street: Understanding where growth forecasts are right and where they go wrong. (Vardad)

New tool shows how many users Celsius has lost to bankruptcy: Perhaps using data pulled from its bankruptcy filing, a new tool now shows exactly how much different users have lost since Celsius’ fall. (decrypt)

The stakes are surprisingly high in a Supreme Court case about bacon: National Pork Producers Council v. Ross asks how far one state can go to change lives in the other 49 states. (Vox)

Why ride the US effort to regain chip dominance: The American semiconductor industry long ago led its Asian rivals, and is now scrambling to catch up. (CIO) see more The China Chip Ban Argument: Joe Biden just crushed China’s semiconductor industry. (Stretchery via Triad)

Putin may lose the war. What will it look like for Russia, Ukraine and the world? A former CIA leader on the disasters that may lie ahead — and how the United States should deal with them. (grid)

College-educated voters are destroying American politics: Political hobbies are to public affairs what sports center watching is to football games. (Atlantic)

How stoicism has influenced music from the French Renaissance to Pink Floyd: Emerging in the wake of the violent French Wars of Religion, the Neostoics saw Stoicism as a remedy for social and political instability. They created a repertoire of vocal music to teach the principles of the system, guiding singers and listeners to “rehearse” Stoic techniques of mind control through informal musical gatherings in people’s homes. (conversation)

Be sure to check out our Masters in Business interview with Crowe Holdings CEO Michael Levy this weekend. The firm is the largest developer of multifamily-homes in the United States. Crowe is both a developer and investor in commercial real estate, specializing in multifamily, industrial and office properties across 21 markets in the United States.

Investors are trained to welcome financial crises

Source: Strategist

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