Wednesday morning news drop
Bear Market Opportunities For Every Generation of Investors: A powerful chart shows how much the stock market is likely to rebound over 3, 5, and 10 years. (A Wealth of Common Sense)
The Stock Market Had a Terrible Year. These Americans Aren’t Bothered. Some say they can’t afford to put money into the market while others think there are better routes to wealth. (Wall Street Journal)
Every Asset Manager Wants More Alts. Here’s How Wellington Is Achieving It. The firm isn’t new to alternatives, but there’s a new urgency behind its business case. (Institutional Investor)
Oops, we forgot to fix the supply chain: Some experts say it never really broke. (Vox)
Coming Soon on Netflix: A New Netflix. Netflix changed the entertainment industry forever. Can the company change itself now that it finally faces some real streaming competition? (Businessweek)
How Ticketmaster gets away with it: Yes, the face value of these tickets has gone up considerably. But an even bigger problem is “fees,” which can be “as high as 75% of the ticket price.” Worse, consumers are increasingly forced to buy tickets on the secondary market, where prices and fees are even higher. These issues can be traced back to one company: Live Nation Entertainment. (Popular Information)
Apartment Builders Didn’t Get the Housing Slump Memo: Multifamily units make up the majority of a record number of homes under construction and are showing few signs of a slowdown. (Bloomberg) see also Where Architects Go to Test Their Wackiest Ideas: A dolphin-shaped island. An oil rig revamped for bungee jumping. Architects bring ‘bonkers’ concepts to Saudi Arabia. (Wall Street Journal)
She’s made 1,750 Wikipedia bios for female scientists who haven’t gotten their due ‘Not only do we not have enough women in science, but we aren’t doing enough to celebrate the ones we have,’ said physicist Jess Wade. (Washington Post)
Exxon’s Exodus: Employees Have Finally Had Enough of Its Toxic Culture: The 140-year-old oil company is making more money than ever. Yet the pandemic exposed deep cultural problems—and talent is fleeing. (Businessweek)
Despite sanctions, Russian fuel is still selling — here’s who’s buying: New markets and illicit tactics are part of Russia’s strategy for making up losses. (Vox)
The Rise of Mobile Gambling Is Leaving People Ruined and Unable to Quit: Financial catastrophe is now only a few clicks away, a problem that is showing quiet signs of becoming a crisis. “I can’t just get rid of my phone,” one problem gambler says. (Vice)
Inside Steve Bannon’s ‘disturbing’ quest to radically rewrite the US constitution: By taking over state legislatures, Republicans hope to pass conservative amendments that cannot be electorally challenged (The Guardian)
Midnights: What we know about Taylor Swift’s songwriting: Over the course of 16 years and nine albums, she’s switched genres from country to pop to alternative to folk. On Friday, she will release her latest record, Midnights, described as “the stories of 13 sleepless nights scattered throughout my life… a journey through terrors and sweet dreams, the floors we pace and the demons we face.” (BBC)