07/03/2021
Today

Attack of the COVID Corporate Zombies

Luigi Zingales, Project Syndicate

All too often, entrepreneurs and managers use the threat of massive layoffs to extract large unwarranted subsidies. After the COVID-19 pandemic, workers should get to decide whether such assistance is justified.

There Is No Reason To Fear The Fed

David Hay, Evergreen Gavekal

One of Wall Street's most hallowed phrases is "Don't Fight the Fed" and for good reason.

The COVID Early Retirement Plan

Nelson D. Schwartz, New York Times

After years in which Americans worked later in life, the latest economic disruption has driven many out of the work force prematurely.

Be Humble About Your Inflation Predictions

Editors, The Christian Science Monitor

The old certainties of economics have been shocked into a new reality that requires more deliberation and listening.

Infrastructure: Republicans Love Big Spending Too

Veronique de Rugy, Reason

We don't have a gridlock problem. We have a spending problem.

Warp Speed: A New Model for Industrial Policy

David Adler, American Affairs

Operation Warp Speed saved millions of lives.

The Internet Is Rotting

Jonathan Zittrain, The Atlantic

Too much has been lost already. The glue that holds humanity's knowledge together is coming undone.

Peter Thiel, Lord of the Roths

Justin Elliott & Patricia Callahan, ProPublica

Roth IRAs were intended to help average working Americans save, but IRS records show Thiel and other ultrawealthy investors have used them to amass vast untaxed fortunes.

The Juice Man

Jesse Hyde, Bloomberg Businessweek

After thoroughbreds started winning at suspicious rates, investigators stepped in. Eventually, 29 people would be indicted in a multimillion-dollar scheme to defraud bettors.

July 2, 1962: The Day Retail Changed Forever

Art Carden, AIER

Walmart changed retail for the better.

The Robot Apocalypse Is Making Our Jobs Worse

Emily Stewart, Vox

The robot apocalypse is already here, it just looks different than you thought.

Labor Shortage? Or Not Enough Good Jobs?

Carly Olson, Los Angeles Times

Employers in California and the U.S. are scrambling to fill jobs as the dust from the pandemic begins to settle. Just don't call it a labor shortage.

ISM: Good, But Could Be Better Expansion Continues

Richard Moody, Regions

Pressure Drop: Easing Inflation Pressures Ahead?

Liz Ann Sonders, Schwab

Inflationary bottleneck pressures tied to the economic reopening are fading; and as suggested by the bond market and wages, a return to hyperinflation is unlikely.

The American Cities with the Largest Minority Wage Gap

Various, Self

Cities in the U.S. with the largest minority wage gap

10,000 Commandments of the Reg State

Wayne Crews, Competitive Enterprise Institute

Growth Outlook Shrinks

Russell Redenbaugh & James Juliano, Kairos Capital Management

Revisiting Tesla's S&P 500 Add

Rob Arnott, Vitali Kalesnik & Lillian Wu, Research Affiliates

Tesla entered the S&P 500 Index on December 21, 2020. Over the next six months, AIV, the stock deleted to make way for TSLA, outperformed TSLA by a stupendous margin—exactly as we expected, based on our research. Index rebalances impose a variety of costs on investors. Smarter index design could go far to mitigate these costs.

Some Ways to Build an All ETF Portfolio

Michael Iachini, Charles Schwab

An index ETF-only portfolio can be a straightforward yet flexible investment solution.

The Looming Stagflationary Debt Crisis

Nouriel Roubini, Project Syndicate

Years of ultra-loose fiscal and monetary policies have put the global economy on track for a slow-motion train wreck in the coming years. When the crash comes, the stagflation of the 1970s will be combined with the spiraling debt crises of the post-2008 era, leaving major central banks in an impossible position.

Q2 2021 Market Performance in 7 Charts

Katherine Lynch, Morningstar

Bond markets recover and stocks post broad gains.

Higher Inflation Ahead? Maybe. But Don't Try to Predict It.

Jeff Sommer, NYT

Consumers, economists and bond traders often attempt to forecast inflation, but we really are walking in the dark.

Was Ben Graham Just Plain Lucky?

Safal Niveshak, Safal Niveshak

His best investment broke all the rules he laid out in The Intelligent Investor.

Jobs Report Gives Little Ammo to Fed Hawks

Bryce Coward, Knowledge Leaders

The ever-important payroll report came in ahead of expectations for June, but will ultimately do little to sway policy in toward the hawkish faction of the Federal Reserve Board.

The Trump Organization Is in Big Trouble

Daniel Hemel, The Atlantic

The indictments of the business and its CFO allege not some minor technical mistakes, but blatant violations of the law.

10 Undervalued Wide-Moat Stocks

Susan Dziubinski, Morningstar

These are the cheapest names in the Morningstar Wide Moat Focus Index--plus stocks the index has recently added and dropped.

How To Have Your Own Bobby Bonilla Day

Brett Arends, MarketWatch

When it came to retirement planning, the former New York Met did three things right.

Antitrust: Why Didn't Microsoft Die?

Shira Ovide, New York Times

Microsoft made epic mistakes for years, but it's again one of the tech world's superstars.

The Stealthy Radicalism of Biden's Boring Presidency

Peter Suderman, Reason

Even the president's most entrenched political opposition cannot seem to find much to engage or enrage.

A Pillar of Modern Finance Turns 50

Brendan O'Connell, Enterprising Investor

Quick, what is 1 July 2021 the 50th anniversary of?

Fisher Investments on Election-Year Uncertainty: This, Too, Shall Pass

Fisher Investments Editorial Staff, Fisher Investments

Ken Fisher on Nixing the VIX

Fisher Investments Editorial Staff, Fisher Investments

Will Uncle Sam Force Big Tech to Break Up?

Fisher Investments Editorial Staff, Fisher Investments

Shattering the Debt Ceiling Myth

Fisher Investments Editorial Staff, Fisher Investments

Dividends Indicate Robust US Economic Growth

Ironman, Political Calculations

Going by the U.S. stock market's dividends, both June 2021 and the second quarter of 2021 registered robust growth.

The Journey to 100X Investments

Mebane Faber, Meb Faber Research

When's the last time you made 100X on an investment? Not 100% on your initial investment, 100 times your initial investment. That means you sink $10,000 into an investment and pull out a cool $1,000,000…for many investors this could be a life-changing outcome.

A Million Chances To Fail

Joshua M Brown, The Reformed Broker

The finish line isn't the thing, it's the route we take to get there and the milestones we celebrate along the way.

The Rally Is Broadening Out

Jamie Powell, FT Alphaville

Growth is not confined to a few names at the top.

Inequality in the Housing Market

Ben Carlson, A Wealth Of Common Sense

If you dig into the components of the consumer price index, you'll notice housing makes up a big part of the government's inflation calculation.The latest data from the BLS shows owners' equivalen

Anti-Racism Has Been Very Good To Robin DiAngelo

Matt Welch, Reason

Nice Racism—and the "anti-racism" consulting business—rakes in the bucks while losing hearts and minds.

The Smart Home Is Too Much Work

Andrew Liszewski, Gizmodo

I'm not willing to jump through all the hoops needed to make my home barely smarter.
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