This week’s highlights: Social Media, Dud Stocks, and Daily Movement
Hope the week has been a great one for you. Back in action here after a ton of travel over the Labor Day weekend, last weekend, and this week. While the Delta variant may be raging, I can definitively say that airports remain jam packed. Every flight I was on this week was sold out – thank goodness for N95s…
- A Family Office Hiring Crisis? Execs are retiring, complexity is higher, who to hire?
Food for Thought
- WSJ – Facebook Knows Instagram Is Toxic for Teen Girls, Company Documents Show & WSJ – How TikTok Serves Up Sex and Drug Videos to Minors *Paywall* – The WSJ has been on point in the last 2 weeks with pieces on the social media companies. While my kids aren’t yet at smart phone ages, reading this makes me wonder what is happening to a generation of kids…
- TheAtlantic – The New Puritans. Social codes are changing, in many ways for the better. But for those whose behavior doesn’t adapt fast enough to the new norms, judgment can be swift—and merciless.
- NewYorker – The Real CEO of Succession. How the writer Jesse Armstrong keeps the billionaire Roy family trapped in its gilded cage.
- Vox – One Good Thing: I didn’t watch any sports. Then I watched Netflix’s Drive to Survive. Imagine the Real Housewives, if the housewives were driving at 300 kilometers an hour.
- TC – How I Practice At What I Do “What is it you do to train that is comparable to a pianist practicing scales?”
- OSAM – The Concentrated Stock Puzzle – IMO, this is a great example of what massive, cheap, distributed computing power combined with asset management will begin to deliver for clients.
- TEBI – Most Stocks are Duds (Yes, You Read That Right). Recent research has demonstrated that around the globe the majority of individual common stocks have generated long-run shareholder losses relative to a Treasury-bill benchmark. The implication is that the large, long-term equity risk premium delivered by the broad stock market was attributable to outsize gains generated by a relatively few high-performing stocks
- Businessweek – ‘Just Get Me a Box’: Inside the Brutal Realities of Supply Chain Hell
- Entrepreneur – Let the Family Build (And Then Let The Professionals Run). As a business matures, it is essential to bring in people with experience, and for a founder to assume that his or her child is the most knowledgeable person out there is fundamentally flawed.
- Bloomberg – Boards Have to Pay Attention. The implications of shareholder derivative lawsuits re: Boeing. “For instance instead of suing the company for failing to disclose that its planes would crash, you could sue the executives and directors for failing to stop the planes from crashing.”
Culture / Arts/ Tech / Science
- Outside – The Benefits of Daily Movement. In this excerpt from his new book ‘The Practice of Groundedness,’ our Do It Better columnist Brad Stulberg explains how ritualizing exercise benefits your brain and body
- Beginnings – Tyler Cowen is the best curator of talent in the world. Tyler Cowen is an economist that has spotted top talent in fields ranging from biotech to literature, often years before insiders. How does he do it?
- NewYorker – The Surprisingly Big Business of Library E-books Increasingly, books are something that libraries do not own but borrow from the corporations that do.
- WashPo – Norm Macdonald was Tolstoy in sweatpants. Even when he texted you in the middle of the night.
When Anything is Possible – Wealth and the Art of Strategic Living
I wrote the book because of a problem I saw and experienced personally. As we pursue our dreams and achieve success, financial wealth is often a natural result.
Yet, the first steps we take to manage this wealth are focused on avoiding negative outcomes (unnecessary taxes, estate issues, losses in the stock market), rather than articulating what we actually want to do with our wealth.
The book is about how we shift from focusing on the things we want to avoid, to the things we want to accomplish with our wealth. Doing so requires a person to articulate 3 key items – Wealth Structure, Wealth Identity and ultimately a Wealth Strategy. The book walks through each of these items in great depth, and guides the reader through a process to develop each.
If you are interested in learning more, visit here and download a free chapter.