What we’re reading (6/24)
A few of the things we’re perusing today:
“‘Crush This Lady.’ Inside eBay’s Bizarre Campaign Against a Blog Critic” (Wall Street Journal). “Security employees allegedly orchestrated deliveries of live cockroaches, pornographic videos and a mask of a bloody pig’s head.” Allegedly! Let’s hope Stoney Point doesn’t ever end up on the wrong side of eBay. With that said, our model thinks their stock sucks (ranked 162 in our universe in May).
“Wirecard: No End to Stock Frauds in China and Europe?” (Real Clear Markets). More on the Wirecard saga. How does $2B disappear?
“Jim Cramer: 2 Worrisome Signs I See With This Market” (Real Money). According to Cramer: “I am thrilled that there are a lot of new traders coming into the market. I am thrilled because I am hoping to try to transform them into investors so this doesn't all end in tears as my great friend Lee Cooperman recently said on my friend Scott Wapner's show. But so far I have not seen much evidence of genuine study time being put in.” He clearly doesn’t know us. And it’s pretty rich for a guy who has spent decades peddling pure puffery and speculation to characterize himself as a builder-of-“investors.”
“Here’s a Scientific Way to Make Better Investment Decisions” (CNBC). Here’s another scientific way to make better investment decisions: subscribe to Stoney Point. Article summary: human perceptions are often skewed by events being (1) vivid and (2) recent. Does not just apply to investing.
“Why Your First Five Years of Retirement Are Critical” (MarketWatch). Per the article, citing a CFPB study, only about half of retirees are able to maintain their pre-retirement lifestyle during the first five years of retirement. Per Stoney Point: the 40 years before retirement are pretty critical too.
“Are Companies More Productive in a Pandemic?” (New York Times). Our opinion: yes. The article: “Companies…are discovering that processes and procedures they previously took for granted — from lengthy meetings to regular status updates — are less essential than once imagined.”
“Retooling Your Investment Portfolio Amid the Turmoil” (U.S. News & World Report). Some common-sense recommendations. We’d add “check out some upstart quantamental strategies” to the list of to-dos too.
