What we’re reading (11/6)
“Why Household Wealth Took Off During The Pandemic” (The Week). “The median net worth of American families grew 37% from 2019 to 2022, according to the survey. Not only is this a huge jump considering the economic uncertainties of the pandemic, it's also "the largest since the Fed started its modern survey in 1989," CNBC reported. The Covid-19-era wealth bump is more than double the prior growth record of 18% between 2004 and 2007.”
“These Funds Offer A Way To Lock In High Bond Yields” (Wall Street Journal). “Investors looking to lock in higher yields are turning to a lesser known type of bond fund. Defined-maturity exchange-traded funds have surged in popularity recently. As their name suggests, the bond funds mature and liquidate on a specific date, similar to how an individual bond pays back its principal.”
“Injured By Chicken Nuggets: What’s Known About The Tyson Recall” (Washington Post). “The U.S. Department of Agriculture is recalling about 30,000 pounds of ‘Tyson fully-cooked fun nuggets breaded shaped chicken patties.'‘ The chicken is pressed into dinosaur shapes. Consumers reported finding small metal pieces in the product that caused at least one minor injury. The recall is considered a ‘Class I’ recall and is considered the most serious of three classifications. According to a USDA spokesperson, Class I recalls happen if there is a reasonable probability that using the product presents a health hazard that could cause serious harm or even death.”
“OpenAI Unveils Latest AI Model, Customizable GPTs And Digital Store” (CNN Business). “During its first developer conference held in San Francisco on Monday, OpenAI unveiled a series of artificial intelligence tool updates, including the ability for developers to create custom versions of ChatGPT. It is also launching a digital store and cutting base prices for developers while also pledging to pay some who use OpenAI products on their platforms.”
“Ray Dalio Once Interrogated His Pregnant Protégé In Front Of His Top Execs Until She Cried” (Insider). “Dalio announced to the room that he would first "probe" and then deliver what he called a ‘diagnosis.’ In the probe he asked her to confirm that she had fallen short in his assignment. The diagnosis was that she was an idiot, a point he made over and over. ‘You're a dumb shit!’ Dalio spat. ‘You don't even know what you don't know.’”
