Monday morning articles
The surprisingly chilled bear market: The equity sell-off has been weirdly tranquil. (Financial Times Alphaville)
Which Asset Class is More Attractive Right Now: Stocks or Bonds? Losing money stings but I prefer to look at bear markets as an opportunity. And with both stocks and bonds down big this year, there is no shortage of opportunities right now. (Wealth of Common Sense)
What the Banks Stock Rally Says About Wall Street: A strong batch of earnings have propelled bank stocks in recent days, but investors remain more cautious on the outlook of Goldman Sachs and Morgan Stanley. (New York Times)
What’s the Inflation Rate? It’s a Surprisingly Hard Question to Answer: Microeconomic analysis suggests underlying inflation could be as low as 3%; macroeconomic analysis suggests it isn’t (Wall Street Journal)
How the Fed Causes CPI to Increase: Rising mortgage rates has sent made apartment prices higher market. The result is as Federal Reserve attempts to fight inflation by raising interest rates, it leads to higher CPI inflation each month — even as prices of goods have come down. (TBP)
Family Offices Get Opportunistic Amid Market Chaos: Distressed hospitality, digital assets, lithium, and even Ukrainian tech companies are commanding the attention of these allocators. (Institutional Investor)
How the 60/40 Portfolio Makes A Comeback: If bonds don’t do well when starting yields are low, inflation is high, and rates are rising, then this implies that they do perform well when yields are high, inflation is low, and rates are stabilized or dropping. (Of Dollars And Data)
Is Most Personal Finance Advice… “Wrong”? I can plot out the next five years of my life neatly in a spreadsheet, full of Future Value formulas, average returns, and estimates about income increases—but it’s mostly an illusion that provides a sense of control. But there’s a problem with “the plan”: The human psyche. We don’t live in Excel World. We live in the Real World. And in the real world, people behave irrationally. (Money with Katie)
Elon Musk Seems to Answer to No One. Except for a Judge in Delaware. Kathaleen St. J. McCormick, the chief judge of Delaware’s Chancery Court, gave Mr. Musk until Friday to acquire Twitter. She is also the judge in at least one other case involving the billionaire. (New York Times)
Why Daylight Saving Could Exacerbate Europe’s Energy Crisis: Ending the practice of turning back the clocks one hour would generate financial and environmental savings for Europe just when the continent needs it most, according to new research. (CityLab)
Home prices are finally starting to fall—especially in California: Nobody is sure why home prices are falling faster west of the Rockies. (Full Stack Economics)
Britain’s Productivity Problem: “The British are among the worst idlers in the world,” they wrote. “We work among the lowest hours, we retire early and our productivity is poor. Whereas Indian children aspire to be doctors or businessmen, the British are more interested in football and pop music.” (NPR)
50 Years Ago, Stevie Wonder Heard the Future: On the anniversary of the landmark 1972 album “Talking Book,” musicians who made it and artists who cherish it share their stories. (New York Times)