Welcome to Bespoke Brunch Reads — a linkfest of the favorite things we read over the past week. The links are mostly market related, but there are some other interesting subjects covered as well. We hope you enjoy the food for thought as a supplement to the research we provide you during the week.

While you’re here, join Bespoke Premium with a 30-day free trial!

Florida

Cathie Wood’s ARK Departs NYC With Shift to Florida Office by

The team behind ARK Invest has closed its New York City office and moved its headquarters and operations to St. Petersburg, Florida, an untraditional hub for high finance. [Link]

Miami Vice’s Journey From Misfire to Masterpiece by Bilge Ebiri (Vulture)

A retrospective on Michael Mann’s 2006 reboot of the iconic 1980s television series, and how its many pitfalls have started to look much better with age. [Link]

Reopening

This Halloween, Americans Are Ready to Party Like It’s 2019 by Alyssa Meyers (Morning Consult)

Only 42% of American adults reported they were planning to celebrate Halloween during the pandemic-dominated 2020. But this year, numbers are back to normal, with more than half saying they’ll partake. [Link]

New Zealand admits it can no longer get rid of coronavirus by Nick Perry (AP)

Relative to its population, New Zealand has suffered roughly one quarter of one percent as many deaths as the US, but the sterling performance of lockdowns and test and trace in New Zealand has finally reached too high of a cost for the island nation. [Link]

Climate

Pick-up trucks and climate politics: will American drivers go electric? by Claire Bushey (FT)

A comprehensive review of the American auto industry’s efforts to get Americans to drive electric pickups, which the industry is hoping will play a spectacular role in fueling both profits and emissions reductions. [Link; soft paywall]

Feeding Cattle Seaweed Reduces Their Greenhouse Gas Emissions 82 Percent by Diane Nelson (UC Davis)

A study found that adding 3 ounce doses of seaweed to cattle feed helped reduce their methane emissions by more than 80% with no impact for their weight gain. [Link]

Labor Markets

The fast-food chain Raising Cane’s is sending corporate staff to work as fry cooks, cashiers, and recruiters in its restaurants amid an expansion drive and the labor shortage: report by Stephen Jones (Insider)

It’s getting so bad in low-prerequisite labor markets that one chicken finger chain is re-tasking corporate headcount from spreadsheets and presentations to deep frying and customer service. [Link]

Teens Are Being Trained to Drive 18-Wheelers Amid Truck Driver Shortage (Inside Edition)

A California program is putting teens behind the wheel to train them to drive trucks. Boosters hope the new drivers will alleviate a labor shortage and provide good-paying careers for teenagers just out of high school. [Link; auto-playing video]

Casino’s Open

Is the Stock Market Open at 3 a.m.? This Startup Says It Should Be by Alexander Osipovich (WSJ)

A new startup exchange has filed for permission to act as a 24/7 trading venue for stocks similar to the always-on crypto markets. Existing electronic exchanges for equity-linked assets like futures are still not operating around the clock, despite much longer trading hours than US cash equity markets. [Link; paywall]

Traders phone up gambling helplines as game-like broker apps spread by Madison Darbyshire (FT)

Day traders are piling in to gambling addiction recovery groups and the SEC is looking in to the practice of gamification by app-based brokers as well as how they undermine small investors. [Link; soft paywall]

Crypto

Anyone Seen Tether’s Billions? by Zeke Faux (Bloomberg)

A global hunt for the investments that back the world’s most popular stablecoin, and a deep dive into the team that claims to be standing guard over tens of billions in client assets. [Link; soft paywall]

An Irate Collector Is Suing the NFT Platform Nifty Gateway Over the Terms of a Very Weird Beeple Auction by Sarah Cascone (Artnet)

As if losing an auction for an extremely rare NFT wasn’t enough, one investor still had to pony up for the second-place offering, part of what can only be described as an obvious scam that is par for the course in the wild west of digital art. [Link]

Big Thoughts

The long-run effects of religious persecution: Evidence from the Spanish Inquisition by Maricio Drelichman, Jordi Vidal-Robert, and Hans-Joachim Voth (PNAS)

The upheaval of persecutions during the Spanish Inquisition was so dramatic that it has a direct impact on incomes, education levels, and social trust levels in Spain half a millennia after the original conflict. [Link]

We have no theory of inflation by Duncan Weldon (Value Added)

A long musing on the dearth of viable inflation models and why that complicates the task of monetary policy setting in both directions. [Link]

The Mafia

Lousy Management, Knucklehead Hires Plague Operations of Real-Life Sopranos by James Fanelli (WSJ)

A reliance on phones, less street smarts, and a cushy suburban upbringing make the newest generation of mobsters poorly suited to the role of wise guy, and a major liability when indictments come down. [Link; paywall]

Hand-Wringing

Valuation not stories ultimately determines investment returns by Richard Bernstein (FT)

The latest in a long string of luminaries blames the Federal Reserve for perceived ills in the market, while simultaneously comparing the current bubble to the tech boom in the late 1990s when monetary policy was much less accommodative. [Link; soft paywall]

Real Estate

The feared eviction ‘tsunami’ has not yet happened. Experts are conflicted on why. by Rachel Siegel and Jonathan O’Connell (WaPo)

The end of a national eviction moratorium has come and gone, but the number of evictions has not surged in a much of the country, puzzling experts who worried millions would be cast out during the pandemic. [Link; soft paywall]

Serial

Zodiac Killer Allegedly Identified by Team of Independent Investigators by Trace William Cowen (Complex)

While police representatives argue the findings are incorrect, a team of independent investigators claims to have identified the Zodiac serial killer who haunted the San Francisco Bay Area in the 1970s. [Link]

Vaccines

In major decision, WHO recommends broad rollout of world’s first malaria vaccine by Helen Branswell (StatNews)

A 4-dose malaria vaccine has been recommended for broad use by the World Health Organization following promising clinical trials in sub-Saharan Africa. [Link]

Governing

Idaho lieutenant governor bans vaccine mandates, tries to deploy National Guard during governor’s 2-day trip by Peter Weber (Yahoo!/The Week)

For the second time this year, the Lieutenant Governor of Idaho has usurped the Governor of that state to make policy changes while the Governor is out of the state. [Link]

Social Media

Facebook Is Not a Teen Favorite, Survey Says. These Social-Media Sites Are. by Eric J. Savitz (Barron’s)

Teenagers prefer Snapchat and TikTok to Facebook’s Instagram platform or the core site. Twitter and Twitch were also well down the popularity list. [Link; paywall]

Read Bespoke’s most actionable market research by joining Bespoke Premium today!  Get started here.

Have a great weekend!

Print Friendly, PDF & Email