What we’re reading (6/25)

Jun 25

“Jeff Bezos Just Sold $1.8 billion Worth of Amazon Stock. Here’s Why” (CNN). Apparently, to fund Blue Origin.
“Chuck E. Cheese Hits Ch. 11 Following COVID-19 Closures” (Law360). Bold claim for the CEO of a restaurant that offers, as its central value proposition, a garage band fronted by an animatronic rat: he and the cheezemeisters over at C.E.C. think they have an angle to “delight” families “for generations to come.” We’re not talking about their financial situation (about which we know nothing)—we’re talking about the product itself.
“Wirecard Files for Insolvency After Revealing Accounting Hole” (Wall Street Journal). More on Wirecard — shares down 70 percent.
“Biotech IPOs are Booming — But It’s Not All About Covid-19” (CNN). Interesting article, but doesn’t exactly prove beyond a reasonable doubt that it’s not all about Covid.
“The COVID Shock to the Dollar” (Project Syndicate). U.S. savings rate allegedly going negative.
“Can Older Men Wear Vintage Clothing?” (Wall Street Journal). Yes, according to The Journal. We cautiously agree.
“ServiceNow (Ticker Symbol: NOW) Recently Broke $400 and Is Up 37% in 2020. Meet CEO Bill McDermott, Who Survived A Near-Fatal Accident That Took An Eye (But Not His Vision)” (Forbes). Fascinating interview with Bill McDermott. Shoutout to “rapid ROI”—that’s not just CEO-speak nonsense—it’s key to our own stock-selection model.

What we’re reading (6/26)