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HEALTH, WEALTH, AND HAPPINESS |
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Hi Everyone,
Although the global pandemic continues to wreak havoc on emerging economies like India and Brazil, the United States is doing all it can to get life back to normal.
The financial services sector in particular, whose workers enjoyed many perks during this tumultuous period, is ready to reverse the top trend of personal freedom, working from home.
Jamie Dimon, who is the CEO of JPMorgan Chase & Co., a man that all cryptocurrency fans are familiar with, has taken it upon himself to lead the way back to the grind. ... |
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Following closely on Dimon's tail is David Solomon, the CEO of Goldman Sachs, who went as far as to call the work from home phenomenon "an 'aberration' that needs to be corrected as soon as possible." Yikes!
I'm so glad I don't work for that man. Humble sympathies to our readers at GS.
On the other side of the workforce are tech firms like Facebook and Twitter, who have stated that they've seen many benefits from working from home and intend to preserve them at some level after the pandemic. |
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Quantification
A recent research paper from the University of Chicago, which surveyed 30,250 workers throughout the pandemic, has found a 5% overall increase in productivity, in addition to the many personal and mental benefits that workers receive in the freedom of their own home.
That doesn't even mention reduced travel time.
The paper's greatest contribution by far is determining that before the pandemic, workers provided 5% of work hours from home.
However, once we return to normal, employers expect their workers to contribute 20% of their workdays from home. |
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If you're in a position where you need to decide for your workers, you might want to read the full 70-page report above.
If, however, you're on the other end and would like to request additional WFH from your employer, here are some helpful suggestions provided by Forbes contributor Julia Wuench on how to handle the negotiation. |
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Businesses on fire
As you may or may not be aware, Wall Street is now in the throes of a very hot earnings season.
Earlier today, I heard on Bloomberg TV that 85% of companies who have reported already have beaten analyst expectations.
We do know that analysts like to keep estimates low enough to give companies a shot to surpass them, especially when times are rough, but that doesn't seem to the be the case.
Nevertheless, stocks on Wall Street do seem to be stalling near the all-time highs rather than reacting to blowout profits.
This is another indication that shows us just how expensive stocks are and how little traders are actually paying attention to the fundamentals at this time.
As you receive this message, Federal Reserve Chair Jerome Powell has recently taken the stage. This is a high alert event and can potentially move all markets depending on what he says.
The crypto market also seems to be stalling at the highs, with several notable exceptions including dogecoin and ether, the latter of which reached a fresh, all-time high of nearly $2,740 earlier today, according to Bitstamp data.
This took place as the DeFi total value locked (TVL) figure surpassed $64 billion today, with all of the top 40 projects built on the Ethereum blockchain. |
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Please note that due to the local holiday of Lag Ba'omer, the festival of physical and spiritual fire, I will not be writing a newsletter tomorrow.
We will resume naturally on Friday, April 30.
Have an awesome day! |
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Mati Greenspan Analysis, Advisory, Money Management |
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