What we’re reading (1/4)
“S&P 500 Has Only Been This Expensive One Other Time — At The Peak Of The Dot-Com Bubble” (Yahoo! Finance). “By at least one popular investing metric, U.S. stocks have only been this expensive one other time in history, and it didn’t end well the first time around. According to the cyclically adjusted price-to-earnings ratio — a measure of market value based on 10 years of smoothed earnings data — the S&P 500 is at its second most expensive point in history.”
“Carl Icahn Sells More Than Half Of His Herbalife Stake” (Wall Street Journal). “Carl Icahn sold over half his stake in Herbalife Nutrition Ltd. and is relinquishing his seats on the nutritional-supplements company’s board, taking a step back from a longtime investment he fiercely defended against an onslaught from rival activist investor William Ackman.”
“Samsung To Launch Its Newest Galaxy Smartphones On Jan. 14, Earlier Than Usual” (CNBC). “Samsung said Monday its next smartphone announcement will be held on Jan. 14, where it is expected to launch the newest versions of its Galaxy flagship phones…The launch is set to take place the same week as the digital-only CES 2021 — the biggest tech show of the year, where major companies often show off their new products.”
“A History Of The 30-Year Feud Between Bill Gates And Steve Jobs, Whose Love-Hate Relationship Spurred The Success Of Microsoft And Apple” (Business Insider). “Bill Gates and Steve Jobs never quite got along. Over the course of 30-plus years, the two went from cautious allies to bitter rivals to something almost approaching friends — sometimes, they were all three at the same time. It seems unlikely that Apple would be where it is today without Microsoft, or Microsoft without Apple. Here's the history of the love-hate relationship between Steve Jobs and Bill Gates.”
“Wall Street Eyes Billions In The Colorado’s Water” (New York Times). “In the West, few issues carry the political charge of water. Access to it can make or break both cities and rural communities. It can decide the fate of every part of the economy, from almond orchards to ski resorts to semiconductor factories. And with the worst drought in 1,500 years parching the region, water anxiety is at an all-time high.”
