Wednesday morning articles to read
The Big Short War Hedge-fund titan Bill Ackman has vowed to bring down Herbalife, the 33-year-old nutritional-supplement company, which he views as a pyramid scheme. With his massive shorting of Herbalife stock, the price plummeted, prompting two fellow billionaires—Ackman’s former friend Dan Loeb and activist investor Carl Icahn—to take the opposing bet on Herbalife. As the public brawl rivets Wall Street, William D. Cohan learns why, this time, it’s personal. (Vanity Fair)
When the Electric Car Is King, Less Energy Is More Here’s a surprise: Electrifying U.S. vehicles wipes out the equivalent of our entire current power demand. (Bloomberg)
Robinhood’s C.E.O. Is in the Hot Seat Vlad Tenev has incited the fury of the trading app’s fans amid a stock market frenzy. His lack of preparedness on nuts-and-bolts issues was part of a pattern, former employees and analysts said. (New York Times)
Howard Marks: «The Biggest Risk Is Rising Interest Rates» Howard Marks, co-chairman of Oaktree Capital, explains why he thinks high valuations in financial markets should be a reason for concern. The legendary investor argues for a prudent approach and says where he spots opportunities in today’s challenging environment. (The Market)
Markets Have ALWAYS Been Rigged, Broken & Manipulated When were the markets ever not somehow broken, rigged, manipulated or untethered from fundamentals? When was the glorious period where markets were completely free and devoid of intervention from the forces of either governments, central banks or investors who overstepped the bounds of fair play? (A Wealth of Common Sense)
Rise and fall of the house of Bitcoin A Buenos Aires hacker haven produced some of Argentina’s most valuable crypto companies. Then it suddenly disappeared.(Rest of World)
The Victoria Real Estate Market starts off with a roar in 2021 January is usually a very quiet month in Victoria real estate. This year started out completely differently. Early listings came back about on pace with last year, but as soon as they hit the market buyers sprang into action and sales roared back as well. The final tally for the month at 646 sales is 57% higher than last January, and second only to January 1990 when we had 686 sales.. (House Hunt Victoria)
