Wednesday Reading List
ICYMI: The Fourth of July – A brief look back at how we moved toward independence and why we celebrate it on the 4th of July (and not the 2nd)….
Our team’s latest on why the job market is so critical to watch, how it could impact inflation, and how to position your portfolio for higher inflation.
Why You Need to Keep an Eye on the Job Market, Even if You Aren’t Looking For One by Heritage Financial
I love this line: “If you have the assets to pay it off, it’s not debt, it’s leverage.” This post is spot on. See Using Debt Smartly for specifics on using debt for protection and building wealth.
Other People’s Money by Blair duQuesnay
100% agree, but you need to avoid the mistakes that keep you from earning your fair share of long-term returns. Read more in Common Investment Mistakes to Avoid.
Robinhood will pay the largest ever FINRA fine for, amongst other things, misleading customers and allowing risky options trades it should not have. FINRA is the regulatory body that oversees brokers. The SEC is also investigating Robinhood. Buffett and Munger warned us about this in MORE PEARLS OF WISDOM FROM BUFFETT AND MUNGER.
Robinhood to pay $70 million fine after causing ‘widespread and significant harm’ to customers by Alicia Adamczyk
“The oil company has long been accused of sowing climate doubt through lobbying and misinformation campaigns. Now, the company is caught on tape admitting to it.” Investing to Fight Climate Change covers how to effectively vote with your wallet on climate change issues.
Watch an Exxon Lobbyist Explain How the Oil Giant Fights Climate Science by Audrey Carleton
Some people feel that gerrymandering has led to more partisanship and a hollowed out political center. Michigan may be on track for a solution.
Michigan’s push to end gerrymandering offers ‘hope’ for divided nation, advocates say by Erin Einhorn
The market has basically doubled since the March 23, 2020 bottom. This is fast, but not the fastest double ever. This piece looks at the details and helps investors understand the benefits of investing during dark times.
How Long Does it Take For the Stock Market to Double Off a Bear Market Bottom? by Ben Carlson
This may be more than you ever wanted to know about Britney Spears, but the financial, societal, and legal aspects of the case are interesting.
Britney Spears’s Conservatorship Nightmare By Ronan Farrow and Jia Tolentino
Book Recommendation
The White Tiger: A Novel by Aravind Adiga
I enjoyed this short novel. The stunning Booker Prize–winning novel from the author of Amnesty and Selection Day that critics have likened to Richard Wright’s Native Son, The White Tiger follows a darkly comic Bangalore driver through the poverty and corruption of modern India’s caste society. “This is the authentic voice of the Third World, like you’ve never heard it before”.
It’s also a new Netflix movie.