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.


Uh-Oh, Germany Is Rapidly Running Out Of Beer Bottles by Esme Nicholson (NPR)

A European heatwave is driving a surge in beer consumption, meaning the normal circulation of beer bottles from consumer to recycler to bottler and around again is badly disrupted. [Link]

Bribes, Backdoor Deals, and Pay to Play: How Bad Rosé Took Over by Victoria James (Bon Appétit)

The story of low quality rosé’s own payola scandal: marketers paying restaurateurs to put their swill (typically industrial, by product laden product from low-quality inputs) on wine lists. [Link]


It’s no laughing matter — SF forming Poop Patrol to keep sidewalks clean by Heather Knight (SF Chronicle)

With a large homeless population to deal with, San Francisco faces a serious issue with people relieving themselves in parts of the city’s streets, a concern that has gotten lots of attention in the media. The poop patrol aims to cut down on the smell. [Link]


Swelling clout of US corporate giants is depressing pay, analysts say by Sam Fleming and Brooke Fox (FT)

New research suggests that increasing market power among large US firms is leading to reduced wage growth; monopsony purchasers of labor. [Link; paywall]

Turkey’s Crisis Exposes the Perils of Strongman Rule by Max Fisher (NYT)

An overview of why autocratic regimes struggle with the trade-off between policies they want to execute and the collateral damage (very frequently, higher inflation). [Link]

How Subscription Business Models are Changing Business and Investing (the Microeconomics of Subscriptions) by Tren Griffin (25iq)

A very comprehensive analysis of how subscription economics work and when they are or are not appropriate for a business to deploy. [Link]


CLOs Are the New Hedge Funds. Plan Accordingly. by Stephen Gandel (Bloomberg)

An overview of the rise in collateralized loan obligations, securitized pools of bank loans. While the article does not mention this, CLOs performed very well during the last credit crisis; while recent structures are somewhat weaker and concerns are valid, their history is impressive. [Link]

NYSE is putting its own interest ahead of investors’ by David Swensen (FT)

Why the advent of a profit-seeking Big Board may be not so good for the individual investor, or indeed investors of all kinds. [Link; paywall]

Social Media

“He loves me unconditionally, I count my blessings every day. (Channel 4 News/Twitter)

While not a “read”, we had to include this short video about a former drug user and his dog. It’s guaranteed to bring a very big smile to your face. [Link; auto-playing video]

Zuckerberg Doesn’t Care About Publishers? Facebook Denies It. by Glenn Fleishmann (Fortune)

In a meeting with Australian media executives, an employee of the social network claimed CEO Zuckerberg doesn’t care about third-party news organizations and publishers. [Link; soft paywall]

Have a great Sunday!

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