Wednesday morning news drop
Canada's inflation rate now at 7.7% — its highest point since 1983 Gas prices up 48% in the past year (CBC)
Wasn’t Bitcoin Supposed to Be a Hedge Against Inflation? If inflation continues at current rates, the purchasing power of wealth held in dollars will be cut in half over the next eight years. But cryptocurrencies can beat that: They can lose half their value in just a few months. (New York Times)
Crypto Just Had Its Lehman Moment. What’s Next? Crypto investors confront hard truths in the wake of the Terra debacle. (Institutional Investor)
How Long Does it Take For Stocks to Bottom in a Bear Market? The good news is it typically takes much longer to reach 20% losses than the bottom, which makes sense when you consider not every bear market goes to the extremes. It’s taken an average of 21 months for the last 12 bear markets to breakeven from the bottom. (A Wealth of Common Sense)
Stocks Historically Don’t Bottom Out Until the Fed Eases Investors ask how long the selloff will last after the S&P 500 posts its worst week since March 2020. (Wall Street Journal)
The market beatings will continue until inflation improves: Renewed concerns about inflation have the Fed triggered (TKer)
We are not in a recession, nor is one inevitable. Americans are rightly angry about inflation. A strong labor market is not enough reason to celebrate. But, we are coming out of, not going into the hurricane. (Stay At Home Macro)
Keep It Going: The most important investing question is not, “What are the highest returns I can earn?” It’s, “What are the best returns I can sustain for the longest period of time?” (Collaborative Fund)
Leaked Amazon memo warns the company is running out of people to hire Unions might not be the tech giant’s biggest labor threat. (Vox)
A History of Rock Music in 500 Songs We have to start somewhere, of course, and there’s no demarcation line for what is and isn’t rock and roll, so we’re starting well before rock and roll itself, in 1939. We’re starting, in fact, with swing. (500 Songs)
As Toronto gets hotter, not everyone is sweating equally From less shade to more health conditions, climate change and heat waves are felt most by Torontonians already living with inequity — such as whether they can afford air conditioning (Narwhal)