What we’re reading (3/15)
“The Hoarding Economy” (Axios). “Americans are locking away greater shares of their money — especially big businesses and the wealthy — a trend that has increased thanks to the coronavirus pandemic and is likely to stick around for some time.”
“Wall Street Is Already Eyeing Biden’s Next Trillion-Dollar Spending Plan” (CNN Business). “Stimulus checks from President Joe Biden's huge relief package, enacted last week, are just making their way out the door. But Wall Street is already looking ahead to his administration's next priority: infrastructure.”
“Electric-Vehicle Startups Promise Record-Setting Revenue Growth” (Wall Street Journal). “It took Google eight years to reach $10 billion in sales, the fastest ever for a U.S. startup. In the current SPAC frenzy, a spate of electric-vehicle companies planning listings are vowing to beat its record—in some cases by several years.”
“This Quant Manager With Triple-Digit 2020 Return Says Ignore P/E” (Forbes). “Traditionally, price to earnings ratios have been the go-to method for figuring out if stocks are overvalued, but one quant manager says P/E is the wrong way to evaluate equities. He argues that profits growth and new stock highs are the metrics investors should be studying to predict which stocks will outperform.”
“When Doing Well Means Doing Good” (DealBook). “Allison Herren Lee was named acting chair of the Securities and Exchange Commission in January, and since then she has been active, especially when it comes to environmental, social and governance, or E.S.G., issues. The agency has issued a flurry of notices that such disclosures will be priorities this year. Today, Ms. Lee, who was appointed as a commissioner by President Donald Trump in 2019, is speaking at the Center for American Progress, where she will call for input on additional E.S.G. transparency, according to prepared remarks seen by DealBook.”
