Tuesday morning news drop
Bill Gates: How the world can avoid a climate disaster Bill Gates says he is determined as ever to drive innovation "Without innovation, we will not solve climate change. We won't even come close," Gates says. Anderson Cooper reports for 60 Minutes. (60 Minutes)
The 100 Most Sustainable Companies Sustainability means many things, but companies usually are judged on a series of environmental, social, and corporate governance metrics that measure how a company’s managers make decisions and plan for the future in areas beyond profitability. (Barron’s)
T’ll Do: Impeachment did not prevail, but Trump still lost. Thanks to their integrity, a clear majority of the Senate voted to condemn the former president as an insurrectionist against the United States. The 57–43 margin wasn’t enough to convict under the Constitution. It wasn’t enough to formally disqualify Trump from ever again seeking office in the United States. But practically? It will do as a solemn and eternal public repudiation of Trump’s betrayal of his oath of office. (The Atlantic)
Bitcoin’s Volatility Should Burn Investors. It Hasn’t. Wild price swings normally have a way of reversing fortunes. So how do you explain when they don’t? (Bloomberg)
The Test of Time: Art as an Investment 80%-90% of your investment portfolio should be in income-producing assets. The rest you can leave for non-income producing assets like gold, Bitcoin, and art. Why? Because non-income producing assets are priced solely based on what someone else is willing to pay for them in the future. Since there are no underlying cashflows, price is based on perception. (Of Dollars And Data)
Biden and the Fed Leave 1970s Inflation Fears Behind After years of dire inflation predictions that failed to pan out, the people who run fiscal and monetary policy in Washington have decided the risk of “overheating” the economy is much lower than the risk of failing to heat it up enough. (New York Times)
The Algebra of Wealth Opportunity remains abundant, even as the headwinds of policy make it increasingly difficult for the young to capture their fair share of the spoils. Achieving economic security requires hard work, talent, and a tremendous amount of focus on . . . money. Yes, some people’s genius will be a tsunami that overwhelms a lack of focus and discipline. Assume you are not that person. (No Mercy / No Malice)
When are high prices a bubble in Victoria? The market for single family homes is completely off the hook out there. 55% are selling for over the asking price, often for tens of thousands of dollars over. Many of those over-asks are going in unconditional offers to strengthen offers, with buyers struggling to do pre-inspections while COVID restrictions mean that many are committing a million dollars based on a half hour viewing, or even sight unseen. (House Hunt Victoria)
