Wednesday morning news drop
Bitcoin: Why is the largest cryptocurrency crashing? The first rule of writing about Bitcoin is: don't write about Bitcoin. The past 24 hours have been catastrophic for the grande dame of cryptocurrency - even by Bitcoin standards. (BBC)
When stocks, houses and crypto fall, where does all that money go? As asset values plunge, it seems intuitively wrong, but the money just disappears. (CBC)
How bear markets trick gullible investors: The majority of the biggest daily jumps occur during bear markets (Marketwatch)
We’re Now in a Bear Market: Everything you need to know right now about crashing stocks. (Slate)
Wall Street’s Favorite Recession Signal Is Back as Curves Invert: Short-term yields climb faster as Fed hikes to slow economy May inflation surge spurs speculation of 75-basis point hike (Bloomberg)
Insiders Put Recession Angst Aside to Binge on Their Own Stocks Purchases poised to top sales for first month since March 2020 Buoyancy at odds with souring mood from Wall Street, investors. (Bloomberg)
S&P 500 Sector Quilt: Why it’s so difficult to pick the best sectors to invest in. (A Wealth of Common Sense)
The End of the Millennial Lifestyle Subsidy: Something beyond rising energy and labor costs is leading to sticker shock on once-cheap urban amenities. It’s not just inflation, it’s the end of the VC-funded Millennial Consumer Subsidy. (The Atlantic)
Elon’s Twitter twist: Musk’s big tech ‘best’ offer looks bogus (New York Post)
It’s time to face facts: Elon Musk is a terrible boss The arrogant, king-like evolution of Elon Musk the boss. (MSNBC)
Tom Hanks Explains It All. Is it telling, then, that in this time of declining trust in our institutions and one another, Tom Hanks is now playing a bad guy? (New York Times)
These 40 ‘overvalued’ housing markets could see 15% to 20% home price declines if a recession hits A housing bubble requires both a rush of speculators entering into the market and "overvalued" home prices. Oh, and the bust at the end, of course. (Fortune)
