Weekend is here! Pour yourself a mug of Bean Box coffee, grab a seat on the couch, and get ready for our long weekend getaway.
, illusion of knowledge: I’ve been expressing my disregard for forecasts for almost as long as I’ve been writing my memos, starting with the value of the forecast, or where this rain will come from in February 1993. Over the years since then, I’ve explained in detail why I’m not interested in forecasts—some of my favorite quotes echo my disdain in the sections below—but I’ve never devoted a memoir to explaining it. That’s why it’s so hard to make helpful macro forecasts. So here it is. ,Oaktree Capital,
, Most professionals can’t beat the marketThe stock market remains incredibly difficult to generate returns that beat (or outperform) passively managed funds that track the S&P 500. According to the S&P Dow Jones Index (SPDJI), 51.2% of US large-cap equity fund managers underperformed. S&P 500 during the first half of 2022 – despite the fact that the S&P itself fell into a bear market during that period. ,TKero,
, Market Share: Understanding Competitive Advantage through Market Power “There is no more important proposition in economic theory than this, that under competition, the rate of return on investment tends toward equality across all industries. (Morgan Stanley,
, We Talked to the Last Person Standing in the Floppy Disc Business The demand for obsolete floppies is much higher than you might expect. ,AIGA Eye on Design,
, A GMO Purple Tomato is coming to the grocery aisles. Will America bite? Most genetically engineered foods were developed to help farmers. It will try to dominate the health conscious produce shoppers. ,wired,
, coming into focus: Once thought to primarily affect overstimulated boys, ADHD diagnoses have increased among adult women. For one writer, coming to terms with her diagnosis later in life has cast her past and family history in a new light. ,Harper’s Bazaar,
, How many people can the Earth handle? By the end of 2022, the human population on Earth is expected to reach eight billion. To mark the occasion, BBC Future takes a look at one of the most controversial issues of our time. Are there too many of us? Or is this the wrong question? ,BBC,
, Can’t we bring something better than a liberal democracy? The West’s preferred self-government system is crumbling. A legal scholar and a philosopher propose some alternatives. ,new yorker,
, The Mysterious, Stubborn Appeal of Mass-Produced Fried ChickenWhy do so many skilled chefs call Popeyes their favorite fried chicken? ,vice president,
, Roger Federer is retiring from tennis – but his mark on the sport is indelible: Understanding Roger Federer Sport is to capture harmony. He talks about his strategy of fire and ice: a combination of a burning desire to succeed and the coolness of being sober. Her career has been a story of mind and body working together like clockwork, to create an aesthetically pleasing state of tennis – and also a method that has yielded incredible success. ,ESPN, see all Roger Federer as Religious Experience: (Published 2006) (new York Times,
Be sure to check out our Masters in Business Interview With Albert Wenger, managing partner of Union Square Ventures, this weekend. He co-founded 5 companies; was president of del.icio.us through the sale of the company to Yahoo; Angel investor Etsy + Tumblr. Wenger is the author of world after capital, Description of the change in the knowledge age + its implications for businesses and society.
End of Covid-19 ‘in sight’?
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