10 Wednesday AM Read – Big picture

Morning in the middle of my week The train WFH reads:

A How not to panic: By studying history, we can realize that much of what we feel is not as unique as what we think. U.S. stock market typically at least 10% every other year 30% every 4-5 years 50% + once in a generation (dollars and data)

A The bull market has attracted traders for millions of days. They have for a rough ride In early 2021, in the midst of speculative stock market surges, a pair of day traders went viral on TikTok with a video explaining their winning strategy. “I see a stock go up and I buy it. And I just watch it until it stops going up and I sell it, “says a user known as Chad.” I do it over and over and it pays for our whole life. “(CNN) See more One sided market: Relax, it’s easy! “How can we do money day trading from home? We only buy stocks that are going up; If they don’t go up, we won’t buy them! The Dunning Kruger effect makes it very easy to confuse luck and skill. Easy gains combined with an increased lack of pullbacks can result in people being involved in poor decision making. (Large image)

A The math of earnings gets caught up with tech highfliers The stock’s sell-off in the sector has led investors to realize that future growth could not justify ridiculous valuations. (Bloomberg)

A ‘The haves and have-yachts’: On the way to London’s super-rich We join sociologist Caroline Knowles as we walk across the economic and class divisions of the capital to discover how extreme wealth has reshaped our streets. (Parent)

A There could be a big change in the economic narrative: Symptoms appear that inventories are being corrected and labor deficit is decreasing (TKer) See more Is recession inevitable? Consider the data The next recession will be caused by a Federal Reserve that does too much, raises rates too much, this idea is not credible. Inflation will end if there is a balance between supply and demand, but we will get to that point, no matter what the Fed does. Recession? Maybe, maybe not. (Alhambra Investments)

A Oil Windfall brings free college and day care to one of the poorest states This year, New Mexico became the first U.S. state to offer free college care to its residents and free child care to most families, all on the back of rising revenues from taxes and royalties on oil and gas production, growing in the Permian Basin. The state is now second only to Texas in energy production. (Business Week)

A Spy Night Eyes: Once-limited technology is helping to see Russian troops, Chinese missile sites and raging fires Satellites equipped with regular cameras often cannot take shots of most of the planets: 70% of the Earth is covered in clouds, and at any one time about half of the planet is dark. That’s where a new type of satellite comes Instead of using cameras to detect visible light, they rely on a technology called Synthetic Aperture Radar (SAR) that beams microwaves on Earth. These microwaves shoot through the clouds and do not know the difference between day and night. (Grid)

A The epidemic will not let you hate germs: This organism digests our food; Maintaining the pH of microenvironments such as saliva, bile, gastric acid and tear ducts; And remove dead cells so that the living can take their place. They colonize our skin, hair and armpits and cover each and every one of us single and inside and out. The presence of a healthy array of microbiota is essential for maintaining almost every physiological process and inhibiting the growth of pathogens that make us sick. (Slate)

A What people misunderstand about red-peeling: I’ve been doing fieldwork in ultra-right online communities since 2016. I hang out on white hegemonic telegram channels, comb through QAnon threads (formerly known as 8chan) on 8kun, and watch TikToks which claim that COVID-19 is a global conspiracy. Like most people who work with far-right content, I find it emotionally debilitating and unpleasant. But I am also convinced that the mainstream acceptance of extreme racist and conspiratorial beliefs is a threat to American democracy. (Slate)

A ‘Pickleball is the Wild, Wild West’: Inside America’s Fighting the Growing Game There are: many leagues. Many federations. Fighting the rich. Bad behavior. And there’s a growing sports growth line. (Sports Illustrated)

Don’t forget to check out our Masters in Business interview this weekend. O’Reilly, co-chief executive officer and chief investment officer at Dimensional Fund Advisors, which manages $ 650 billion in client assets. Previously, he was head of research at DFA, managing the firm’s rigorous approach to interpreting, testing, and applying research to portfolios.

When the Fed seeks to reduce demand by increasing the cost of capital, no market is immune

Source: @ Timorfidelity

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