What we’re reading (7/13)
“Robert Shiller Warns That Urban Home Prices Could Decline” (CNBC). More from Nobel Laureate Robert Shiller (of Case-Shiller Home Price Index fame). Per Shiller, the “benefits of city living,” such as restaurants, museums or theater shows, are increasingly questionable, especially in a climate elevated asset prices across the board.
“Bridgewater Loses Claims It Brought Against Ex-Employees Who Launched Hedge Fund” (Wall Street Journal). Besides being the biggest hedge fund in the world and popularizing the unique managerial philosophy known as “radical transparency” (a nice euphemism for all kinds of authoritarian labor practices), “bwater” is also known for asserting trade secrets misappropriation against ex-employees when they branch off to do their own thing. This time, Bridgewater lost.
“Nasdaq Sinks 2%, And Broader Stock Market Ends Negative In A Stunning Monday Reversal In The Final Hour of Trade” (MarketWatch). Things got a little spicy out in Silicon Valley on Monday afternoon.
“Tesla Stock Is More Than 100% Overvalued, Warn Top Wall Street Analysts” (Observer). We don’t exactly have a lot of confidence in Wall Street analysts here at Stoney Point, but we also don’t expect Tesla to find its way into our Prime picks any time soon.
“Kanye West at 2% In First National Poll Since Announcing Presidential Run” (Spin). To be “radically transparent,” not exactly sure if this is fake news or not. But if you’re on the long-volatility side of the market, things could be looking up for you.
“How Dollar Stores Became Magnets For Crime And Killing” (ProPublica). Dollars stores are having a day—but, allegedly, on the backs of poor communities.
