What we’re reading (4/12)
“How Much Higher Will This Bull Market Go?” (MarketWatch). “This bull market’s strongest gains are behind us. That’s the conclusion I reached upon analyzing all U.S. bull markets since 1900. The good news is that, assuming the future is like the past, the current bull market still has more months of life in store. The bad news is that the stock market’s gains during those months are likely to be far more modest than what we’ve gotten used to over the last 12 months.”
“Raw Materials Prices Have Surged. Corporate Profits Are Likely Next.” (Wall Street Journal). “Prices are surging for raw materials, leading to higher costs for companies from home builders to clothing makers. If history repeats, that will be a boon to corporate bottom lines and investors as well.”
“ETF Investors Say Coinbase Listing Will Cause Explosion In Crypto Investing” (CNBC). “‘Coinbase is going to blow people’s minds,’ said Matt Hougan, chief investment officer at Bitwise Asset Management, which pioneered the first cryptocurrency index fund. ‘I think it’s going to force traditional finance to wrestle with the phenomenal growth that is taking place in crypto.’”
“Investor Dan Loeb's $17 Billion Hedge Fund Third Point Holds An Undisclosed Amount Of Cryptocurrencies With Coinbase” (Business Insider). “Third Point, which manages about $17 billion, disclosed in a regulatory filing in late March that five of its funds hold crypto assets under custody with Coinbase. The amount and duration of investment is currently unclear. In a separate brochure, the firm said it could invest in crypto directly or indirectly through derivatives contracts.”
“‘They Present A Version Of Themselves That Isn’t Real’: Inside The Dark, Biohacked Heart Of Silicon Valley” (Vanity Fair). “When they [the ‘Silicon Valley tech rich’] go on silent retreats and meditate for days on end, it’s seen as proof they are close to some sort of transcendental plane, and when they return to normal life, they will explain how we—they!—can fix civilization. Those who push themselves to extremes—by hacking their bodies, drinking Soylent instead of consuming real food, or forgoing sustenance altogether—are not seen as odd, but considered on the bleeding edge, as if they were just doing this to show us mere mortals how in control they are of their own lives.”
