05/24/2021: Weekly Newsletter
"When you're in the stock market, the value of stocks…there is that objective value, the earnings of the company... but then what really determines the value of the stock in the market is what other people think it is.
So when you are buying a stock you are actually betting on what other people will think that stock is worth in the future. and that's what people do mostly.
Now, ultimately, I think values are tethered to reality so ultimately there are corrections. so it's not that you can have a self-perpetuating story forever because there are alternatives. There are alternative ways to invest money. Stocks are not alone. it's not only about stocks. and ultimately reality will have its turn..."
This was from Nobel-prize winning psychologist Daniel Kahneman (Thinking Fast & Slow) in a recent interview. I think it is such a poignant reflection of the financial markets, and a reminder that sometime how we think other people value stocks can influence and affect how we ourselves value them. And I was wondering… when those two perspectives start to vary widly…is that when bubbles start to form? I’m not sure, but it’s an interesting question.
Money & Crypto
Online shopping decreasing slightly
McDonald’s wage increase and why restaurants are struggling to hire
Squarespace goes public with direct listing
Warner & Discovery merger and MGM looking for a buyer like Amazon
Investment banks treading into crypto
BTC, ETH, and other cryptos down
Pipe raises $250M, Dooly raises $80M, Super raises $50M, Found raises $13M
Tech & Science
Largest iceberg breaks off from Antarctica
Chip shortage—to clarify, I mean the things that make technology work… not the snack :)
5G proxy war in Ethiopia between US and China
Tim Cook, Apple CEO, testifies in legal fight with Epic, maker of Fortnite
Etc.
How America compares to other countries on life expentancy, infant mortality, and prison population when you split it out by race…its pretty stunning
♫ Writer Bill Bryson on Alan Alda podcast
♫ Nobel winning psychologist Daniel Kahneman on Armchair Expert
♫ Fan of The Office? Kevin aka Brian Bumgartner interviews Toby aka Paul Lieberstein ( writer and showrunner), Allison Jones (famed casting director), and others
♫ Setting goals and following through even when it’s hard
♫ My friend and I talked about reading Caste by Isabel Wilkerson on our podcast Not So Silent Reading
Phil Mickelson wins PGA tour
Asfaw Yemiru, founder of schools for poor children in Ehtiopia, passed away
Disclaimer: All opinions are my own. The content on this site and on the podcast does not constitute financial, legal, accounting, tax, or investment advice.
