10 Wednesday AM Read – The Big Picture

My mid-week morning the train WFH reads:

The death of crypto has been exaggerated once again: Instead of sending institutional investors straight for the exits, crypto’s descent into hell has sparked a quest for the next big bet. (Institutional Investor)

Why today’s inflation is not a repeat of the 1970s: I’m not a huge fan of the Federal Reserve’s current policy choices. They obviously had to do something about the persistently high inflation but I think they ran the risk of overdoing it. Their level of interest rate hikes increases the risk of some breakdown in the financial system. (Common Knowledge Resources) see more When your only tool is a hammer: The FOMC believes that middle-class purchases of homes and automobiles are where they can best stifle inflation. It is unnecessarily harmful at best, and ineffective at worst. (large image)

How job opportunities now explain everything about the economy and the market: The level and trajectory of this metric are very telling. (TKer)

US workers have been way less productive. No one is sure why. The worst drop in U.S. worker output since 1947 worries executives and economists Image without caption (Washington Post)

Why musicians and other creative professionals will soon have their revenge on the Old Guard: I finally made happy predictions about the future of art and entertainment. (honest broker)

Elon Musk’s Twitter faces exodus of advertisers and executives: At least five Twitter executives have left in recent days, as one of the world’s largest advertising firms says clients should stop spending on the social media platform. (dealbook)

Silicon Valley’s unbridled euphoria runs into economic reality: Once buzzing start-ups are up against the new reality that the good times are over. No more. (New York Times)

Could a new form of cryptography solve the Internet’s privacy problem? Techniques that allow data sharing and keep it secure could revolutionize everything from healthcare to law enforcement (parent)

How Biden Uses His ‘Car Guy’ Persona to Burn His Everyman Image: In the run-up to next month’s midterm elections, President Biden is hoping his gearhead reputation will appeal to parts of the Trump base. (New York Times)

Taylor Swift makes history as the first artist on the Billboard Hot 100, led by ‘Anti-Hero’ at No. 1: Swift passed Drake, who claimed nine of the top 10 in September 2021. (billboard)

Be sure to check out our Masters in Business interview this weekend Jeremy! Wharton professor Jeremy Siegel and Jeremy Schwartz, chief investment officer of $75 billion Wisdom Tree Asset Management. Siegel is the author of Stocks for the Long Run; Schwartz is his research partner/editor. The two discuss the Sixth Edition of SFTLR, the latest and most extensively expanded edition of the investment classic.

Asset performance in October and YTD (in USD terms)

Source: Deutsche Bank

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