My back-to-work morning train WFH reads:
• What is the Fed Doing? Don’t fight the Fed used to be a positive slogan. That’s not the case anymore. If anything, it feels like the Fed wants to fight us, all of us, including the stock market and the economy. The Fed is actively trying to crash the stock market, break the housing market and push the economy into a recession. How do I know this? Because Fed officials are literally telling us this every time they speak. (Wealth of Common Sense)
• A Very Tough Year: The S&P 500 has declined more than 1% in one out of four days so far in 2022. The only other years with a higher reading since 1990 were 2008 when the S&P fell 38%, and 2002, when it fell 23%. (Irrelevant Investor) see also Buying the Stock-Market Dip Is Backfiring. Investors Keep Piling In Anyway. Share prices continue to plunge, denting a strategy that soared in popularity over the past decade. (Wall Street Journal)
• Factory Jobs Are Booming Like It’s the 1970s: U.S. manufacturing is experiencing a rebound, with companies adding workers amid high consumer demand for products. (New York Times)
• Why Jack Welch Wouldn’t Cut It Today: Bill George, a legendary CEO in his own right, says good quarterly numbers aren’t necessarily indicative of strong leadership. (Institutional Investor)
• Pensions Brace for Private-Equity Losses: Retirement officials predict grim results from investments in private equity and other illiquid assets (Wall Street Journal)
• The Era of Monster-Truck Sneakers Treats Soles as Engineering Marvel: Tread anything but lightly when you’re wearing these sneakers. (Businessweek)
• The Billionaire Hedge Fund Manager Disrupting NFL Analytics: Paul Tudor Jones has co-founded a new company that has invested significant resources in developing technology that it believes can tackle one of the most complicated puzzles in sports: how to build a winning NFL team. (Wall Street Journal)
• The Search for Intelligent Life Is About to Get a Lot More Interesting: There are an estimated 100 billion galaxies in the universe, home to an unimaginable abundance of planets. And now there are new ways to spot signs of life on them. (New York Times)
• The strange psychology of Reddit’s r/RoastMe: I took a dive into the weirdest place to be intentionally wrecked online. (Inverse)
• Runners can be disqualified for starting after the gun. What gives? The rules of elite running say no one can start a race faster than 0.1 seconds. Scientists say that’s wrong. (Vox)
Be sure to check out our Masters in Business interview this weekend with Steve Case, co-founder of America On-Line (AOL), founder of investment firm Revolution, Char of the Smithsonian, and author of The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream.
Consumers Feel Worse Now Than They Did During Covid Lockdowns
Source: Wall Street Journal
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