10 Monday Reads – The Big Picture

My back to work morning train reads:

It’s the worst bond market since 1842. That’s the good news. The four-decade bond market bull run is over, but that doesn’t mean you should get rid of it (Wall Street Journal)

Five reasons why the Fed is playing catch-up They took too long to fight inflation. Here are their best excuses. (full stack economics) but look Normalization vs. Inflation Fighting inflation in the past decade has been easy, in part because of the lack of a robust fiscal response after the global financial crisis. The massive fiscal response during the pandemic has made the task of fighting inflation more difficult. (The Big Picture)

Bottom fishermen in the stock market shovel in the perilous water The S&P 500 is down 10% this year, but there’s no way to know if it’s a good time to buy. (Bloomberg)

It’s not just Tesla. 8 More Credits Playing a Role in the Future of Transportation. One might think, from the stock market or Twitter, that Tesla and electricity are the only two things that matter today in the transportation world. But there’s a lot more to the story, including self-driving, ride-sharing, robotics, and mobility technology, to name a few notable trends. Additionally, there are 300 million vehicles already on the road in the United States alone that still need maintenance and repair. (Barons)

Too rich and too skinny? Welcome to the newest “knife scraper” in Manhattan ‘Depositing unimaginable wealth in the sky’ is also a remarkable feat of architecture (Financial Times)

Steve Cohen’s Secret Weapon of the Dead: His Hedge Fund Some employees of billionaire company Point72 Asset Management work in important roles for his baseball team. Much has been commissioned to improve data analysis and technology. (The Wall Street Journal)

America is trying to fix chip shortages, plant by plant A multi-billion dollar chip factory has opened in upstate New York. The Biden administration wants more. (Fox)

This Chinese electric car sells for just over $5,000. So we tried it Wuling’s Mini EV is made in partnership with General Motors, sells a Tesla Model 3 in China and costs less than adding CarPlay to a Ferrari. (wired)

A pulsar releases a stream of antimatter 7 light years into space: What we see here is a galactic- and magnetic-driven pulsar-driven beam of matter and antimatter that spans 70 trillion kilometers and is large enough that we can see it with the naked eye – if only our eyes could see X-rays. This is awesome. (Syfy Wire)

Derby win gives Rich Strike horse racing a welcome reboot The Colt jockey, trainer and owner is nothing but the king of racing, but they are the kind of story the sport needs right now. (The New York Times)

Be sure to check out our Masters in Business interview this weekend with Alex Gervich From Hon Te Advisors, a discretionary global macro hedge fund. Previously, Gervish directed the JP Morgans macro book. In 2020, Hon Te was ranked 2nd in terms of net income and the Top 10 Emerging Managers. he is an author The next perfect trade and recently, March 2020 trading.

To date, bond mutual funds have seen $137 billion in outflows, worse than equity ETFs at $88 billion.

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