What we’re reading (1/22)
“Housing Market Stays Tight as Homeowners Stay Put” (Wall Street Journal). “Americans are holding on to their homes longer, and it is costing would-be home buyers. The length of time U.S. homeowners stay put has been rising steadily, a big reason why the inventory of homes for sale is at record lows and prices are near all-time highs.”
“Renewables Stocks Have Boomed. Some Have Gone Too Far, Too Soon.” (Barron’s). “Renewable energy stocks have been rising for more than a year as a shift to renewables from fossil fuels accelerates…[i]nvestors, however, have already accounted for these developments, and a recent rally in renewable energy companies could mean that the stocks will struggle to see similar gains in the near future.”
“Ten-fold Growth And A 740 Percent Stock Gain: Cathie Wood’s Breakout Year by the Numbers” (Institutional Investor). “In December, as investors pulled more than $15 billion out of active U.S. equity funds — and as half of the largest fund managers suffered outflows — six-year-old ARK Investment Management was having its best month yet. Investors allocated $8.2 billion into ARK’s exchange-traded funds last month, among the highest net inflows of any U.S. fund manager, according to Morningstar’s end-of-year fund flows report.”
“The ETF Space Race Heats Up With One Giant Leap From A Star Manager” (MarketWatch). “While it’s widely hoped that this year will turn out better than 2020, it’s hard to imagine anyone striking it so lucky, so quickly as Andrew Chanin. Chanin is the CEO of ProcureAM, which runs an exchange-traded fund focused on space exploration. Since its inception, the fund, with the out-of-this-world ticker UFO, has held a niche role as the only ETF solely focused on space exploration.”
“Harvard & Stanford MBAs Win Trump Pardons” (Poets & Quants). “In the flurry of last-minute pardons by a departing president are two graduates of the world’s best business schools: Harvard Business School and Stanford Graduate School of Business. Trump granted a highly publicized pardon to Steve Bannon, his former chief strategist, who graduated from Harvard Business School with honors in 1983….[h]e also gave a pardon Bob Zangrillo, a Miami-based developer and venture capitalist, who earned his MBA from Stanford in 1994.”
