My mid-week morning train WFH reads:
• Jerome Powell’s Inflation Whisperer: Paul Volcker Aiming to reduce inflation even at the risk of recession, the Fed Chairman draws on a 1980s playbook. ‘We must keep at it until the job is done.’ (Wall Street Journal) see also The “Data-Dependent” Fed and the Data Interpreting the mixed signals across the economy, with a focus on inflation, jobs, and market pricing. (The Overshoot)
• Were Those Great Returns the Result of Skill — or Just Luck? Spoiler: It wasn’t luck that gave Morgan Stanley Investment Management, Carmignac, Baird, and Invesco some of the top equity portfolios. (Institutional Investor)
• Dollar’s Rise Spells Trouble for Global Economies: The surge threatens to exacerbate a slowdown in global growth and amplify inflation headaches for global central banks (Wall Street Journal)
• Don’t Take Financial Advice From Kanye West: Nothing fails quite like success. You could argue the more successful you become, the more advice you should seek from others. If nothing else, it’s good to hear from a wide range of sources to ensure you don’t get too full of yourself. (A Wealth of Common Sense) see also The 6 Ways of Influence: 6 ways of influence show up in the financial world and how you can prevent yourself from falling for such trickery. (Of Dollars And Data)
• The Odds of a Bad Outcome are Rising: The prospect of more aggressive Fed tightening raised expectations of a more severe economic slowdown and throwing financial markets into turmoil. (The Lens)
• ‘Dilbert’ Becomes the Voice of ESG Opposition: You know something is firmly part of the mainstream when it gets its own cartoon enemy. (Bloomberg)
• For Gen Z, TikTok Is the New Search Engine: Need to find a restaurant or figure out how to do something? Young people are turning to TikTok to search for answers. Google has noticed. (New York Times)
• YouTube May Force You to Watch 10 (or More) Unskippable Ads in a Row: The biggest trick the Devil ever played was convincing people that online stuff is free (The Honest Broker)
• The Sinaloa Cartel Is Controlling Water in Drought-Stricken Mexico: “Water is now a valuable asset for us, and as it becomes more scarce, the more we will fight to make sure we have enough,” a cartel operative told VICE World News. (Vice)
• Justin Jefferson, his wide receiver ‘sensei’ and the art of running silky-smooth routes: The Vikings star Justin Jefferson is able to do things with his body that most other receivers simply cannot: “He’s an illusion.” (The Athletic)
Be sure to check out our Masters in Business this week with Albert Wenger, Managing Partner at Union Square Ventures. He co-founded 5 companies; was President of del.icio.us thru the company’s sale to Yahoo; angel investor Etsy + Tumblr. Wenger is the author of World After Capital, describing the shift to a Knowledge Age + its implications for businesses & society.
Mortgage Rate Surge Kills Refinance Boom
Source: Statista
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