My mid-week morning
the train WFH reads:
• The dollar is too strong, pushing the world down: The U.S. dollar is at its strongest in a generation, devaluing currencies around the world and unsettling the outlook for the global economy as it depends on everything from spending on vacations abroad to the profits of multinational companies. (New York Times)
• The Lucid Air Grand Touring makes the Tesla Model S feel a bit pointless: With superior build quality, excellent materials and vastly superior battery range, the Air Model S feels old, cheap and dated. (jalopenik) see more GM will finally rival Tesla’s Model Y with the Blazer EV Chevy SUV built on new battery platform to debut in year Battery capacity gives GM edge in fielding models: Analyst. (Bloomberg)
• Active managers are proving their worth right now. Will it end? Active managers’ performance during downturns “is generally not as good as they say, not as consistent as they say, and not as important to their long-term success as they would lead you to believe,” says Morningstar’s Jeff Patak. (Institutional Investor)
• The new number of music consumption is very ugly: And it’s not just the dominance of old music – the entire creative culture is losing its ability to innovate. But why? (honest broker)
• $48 billion worth of wealthy Chinese want to leave – but will Xi let them? About 10,000 wealthy Chinese are looking to leave in the wake of the punishing lockdown and economic slowdown. The question is whether they can. (Bloomberg)
• Haves and have-yots: Luxury ships spark outrage and political scrutiny. The super-rich are buying them in record numbers (New Yorker).
• Instagram is dead What’s left is a constantly evolving product that copies features from popular services – Snapchat, TikTok or whatever It’s all about marketing and selling low quality products and mediocre services by influencers with less depth than a sheet of paper. It’s become QVC 2.0. (Om) see more On TikTok, teenagers stuck in the suburbs get an urbanist pitch: Makeup tutorials and viral dance challenges aside — here comes TikTok for urban planning. (CityLab)
• Good Grief: Reflection of a Terrible Emotion: But no one tells us how to deal with the death of people we love or consider important to our own lives. Or at least no one credibly did. Swiss psychiatrist Elisabeth Kübler-Ross’s best-known efforts are her 1969 book On Death and Dying and her later book On Grief and Grieving (2005). (commentary)
• Meet the giant sequoia, a ‘super tree’ built to resist fire: Mammoth redwood trees thrived with fire, but humans are disrupting that delicate balance (Scientific American)
• How Picasso’s Great Anti-War Mural Flopped Picasso’s massive mural about the horrors of war left its first visitors cold. How did this painting become one of the most important in art history? (Atlantic)
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“
Time is running out on US plans to avoid extreme climate change
Source: The Washington Post
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