Venture capitalists are beginning to heed calls to increase racial and gender diversity in their ranks and investment targets, according to a new survey from Morgan Stanley. About three in five venture capitalists surveyed said the Black Lives Matter movement had influenced their investment strategy and more than two-thirds said they are more likely to invest in multicultural-founded companies in the coming year, the bank said Thursday. “With 2020 as a potential pivot point on these issues, we push ourselves, as well as our industry, to become more honest and introspective about our attitudes, biases, actions and barriers to addressing inequality,” the report said. Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, … [Read More...]
States Where People Live the Longest
With the exception of a few specific age groups, life expectancy in the United States has generally been increasing at least since the 1960s, according to the Census Bureau. According to the latest… [Read More...]
November 21 COVID-19 Test Results; Record Hospitalizations
Note: Week-over-week case growth is slowing, so maybe cases per day will peak soon (A virtual Thanksgiving is recommended by the CDC). Stay Safe!!!The US is now averaging over 1 million tests per day. Based on the experience of other countries, for adequate test-and-trace (and isolation) to reduce infections, the percent positive needs to be well under 5% (probably close to 1%), so the US still needs to increase the number of tests per day significantly (or take actions to push down the number of new infections).There were 1,604,859 test results reported over the last 24 hours.There were 178,309 positive tests.Almost 25,000 US deaths have been reported so far in November. See the graph on US Daily Deaths here.Click on graph for larger … [Read More...]
Saturday links: beliefs vs. reality
AutosIt’s hard not to get excited about the new electric age for transportation. (themobilist.medium.com)Quebec is set to ban the sale of new ICEs by 2035. (cbc.ca)Consumers don’t want compact cars, even the Honda Civic. (wsj.com)The car audio arms race is unrelenting. (nytimes.com)Air travelThe FAA cleared Boeing’s ($BA) 737 MAX to fly again in the U.S. (axios.com)The risk of getting Covid on a plane is low, but not zero. (wired.com)What to do if you are flying to stay safer. (elemental.medium.com)EnvironmentGreenhouse gases generated by the U.S. economy will slide 9.2% this year. (washingtonpost.com)Massive wildfires are pushing smoke to record elevations. (wsj.com)Would carbon-labeling help consumers make better informed decisions? (ft.com)The hot new commodity is…recycled cardboard. (wsj…. [Read More...]
Republicans bring out the big guns in Georgia runoff election, but Trump’s refusal to concede sparks concern
SOURCE: Yahoo News – Latest News & Headlines – Read entire story here.
Will Stocks Really Trade at 22x Forward 12-Month Profits By December 2021?
Goldman Sachs just raised their year-end 2021 price target for the S&P 500 index to 4,300. That implies a 20% gain over the next year or so. The call got a lot of attention, perhaps unsurprisingly, as they expect an above-consensus profit figure for the index next year of $175 (current consensus calls for $165). Just as bullish, they expect stocks can fetch 22 times forward 12-month profits (estimated at $195 for 2022), which is where the 4.300 figure comes from.There is a lot to unpack here. At first blush, both the valuation multiple and the profit estimate appear wildly optimistic. Predicting $175 of S&P profits in 2021, when 2019 was a record-breaking year registering just $157 seems a bit silly to me at this point. Historically, … [Read More...]
WSJ Wealth Adviser Briefing: Vaccine Trade, Tourism Investors, Vacation Home Buying
The advisory business has become increasingly commoditized and competition has blurred the lines between firms. Firms and brands are less delineated, diminishing loyalties. This dynamic, disruptive environment has made client acquisition and business hyperchallenging. Which prompts two questions: What is the alpha your clients get by working specifically with you? And what is the excess value you add to your own practice to separate yourself from competition? Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more. ELECTION CFOs Watch for a Possible Minimum Wage Hike Under Biden: Companies are considering raising prices, cutting workers’ hours and investing in automation to offset a potential rise in labor costs. … [Read More...]
25 Cities Where You Don’t Want to Get Sick
Every day the U.S. coronavirus outbreak is ushering new records. On. Nov. 10 the country reached a record of more than 100,000 infections in a single day for seven days in a row. There is a record… [Read More...]
November 14 COVID-19 Test Results; Record Hospitalizations
The end of the pandemic is coming, possibly by Q2 2021! Please be careful, especially over the holidays. Thanksgiving, Christmas and New Years will be tough this year, but keep your guard up – plan now to have safe holidays.The US is now averaging over 1 million tests per day. Based on the experience of other countries, for adequate test-and-trace (and isolation) to reduce infections, the percent positive needs to be well under 5% (probably close to 1%), so the US still needs to increase the number of tests per day significantly (or take actions to push down the number of new infections).There were 1,343,467 test results reported over the last 24 hours.There were 163,473 positive tests.Over 14,500 US deaths have been reported so far in November. See … [Read More...]
Saturday links: star pupils
TransportThe auto industry is hoping that further “hybridisation” will ease the transition to all-electric vehicles. (ft.com)Why Tesla ($TSLA) is overselling its “Full Self Driving” software. (fortune.com)The Ford ($F) E-Transit van will get more companies to switch. (engadget.com)EnergyThere is still a long way to go to make current systems more energy efficient. (ft.com)Toshiba has stopped taking orders for coal-fired plants. (asia.nikkei.com)Structural batteries could mean the end of the battery pack. (wired.com)You can burn iron to generate electricity? (newatlas.com)EnvironmentThe Ogallala-High Plains Aquifer is being drained, in large part, due to bad policies. (modernfarmer.com)The Indian Ocean is a bit of a free for all, when it comes to overfishing. (hakaimagazine.com)Cement production is a huge generator of … [Read More...]
'The long knives are out': The Pentagon purge may be less about a Trump plan than end-of-presidency chaos and revenge
A series of personnel changes placing Trump loyalists in key Defense Department positions has sparked rumors of plans for dramatic action in the waning days of his presidency, but a number of former national security officials see it more as the chaotic final days of an outgoing administration. [Read More...]
WSJ Wealth Adviser Briefing: CEOs See Gridlock, Niche Funds in Demand, Breakfast Goes Bust
Jacob Sonenshine wrote in Baron’s that the election results could blunt the economic recovery, pressure interest rates—and support just enough stocks to lift the S&P 500 to a record high. To be sure, the faster the economy reaches pre-covid levels of output, the faster earnings per share on the S&P 500 come in at the $163 level 2019 saw. But the speed of the recovery hinges somewhat on heavy fiscal stimulus. With Vice President Joe Biden and President Trump locked in a close race, and Congress split between a Republican Senate and a Democrat-controlled House, a $3 trillion stimulus bill is almost certainly not going to happen. That means lowered inflation expectations, and lower Treasury yields. Those low rates are a key support for stocks, explains … [Read More...]
November 7 COVID-19 Test Results; Record Cases; Hospitalizations almost 56,000
Note: I look forward to when I will not be posting this daily!The US is now averaging close to 1 million tests per day. Based on the experience of other countries, for adequate test-and-trace (and isolation) to reduce infections, the percent positive needs to be well under 5% (probably close to 1%), so the US still needs to increase the number of tests per day significantly (or take actions to push down the number of new infections).There were 1,068,815 test results reported over the last 24 hours.There were 128,396 positive tests. (New record)Almost 7,000 US deaths have been reported so far in November. See the graph on US Daily Deaths here. Click on graph for larger image.This data is from the COVID Tracking Project.The percent … [Read More...]
These Are The 10 Presidents Who Were Not Reelected
Joe Biden will become the 46th President of the United States, based on an election called by the Associated Press. Donald Trump will be the first sitting President not reelected since George H.W…. [Read More...]
Saturday links: powerful sentiments
AutosWhy even Ferrari ($CAR) can’t ignore the EV revolution. (bloomberg.com)A taxonomy of all the companies operating in the EV space. (axios.com)Sports cars were tuned for sound. EVs not so much. (ft.com)EnvironmentThe case for taking urgent climate action now, before it’s too late. (ft.com)We overly index on transportation, but food production is a big driver of carbon emissions. (sciencemag.org)Space launches generate a lot of CO2 and other noxious substances. (scientificamerican.com)Brazilian rainforests are being razed for more than just farming, think gold. (ft.com)Which is better: replanting trees or letting forests regrow on their own? (wired.com)ScienceIn early America, female hunters pursued big game like the men. (newscientist.com)What we’ve learned from twenty years on the ISS space station. (popsci.com)AnimalsWhy Denmark is … [Read More...]
Trump administration fires three agency heads in wake of US election
The Trump administration has fired the heads of three federal agencies, in the wake of the 2020 US election. The administration fired Lisa Gordon-Hagerty, administrator of the National Nuclear Security Administration (NNSA), Bonnie Glick, deputy administrator of the US Agency for International Development, and Neil Chatterjee, chairman of the Federal Energy Regulatory Commission (FERC). [Read More...]
This Is How Historians Have Ranked Every US President
Reputations are a tricky thing. The reputations of some U.S. presidents grow stronger or change with time, especially when considered through a historical lens. As Election Day is fast approaching,… [Read More...]
October 31 COVID-19 Test Results
The US is now averaging close to 1 million tests per day. Based on the experience of other countries, the percent positive needs to be well under 5% to really push down new infections (probably close to 1%), so the US still needs to increase the number of tests per day significantly (or take actions to push down the number of new infections).There were 1,126,064 test results reported over the last 24 hours.There were 90,058 positive tests. Over 23,000 Americans deaths from COVID were reported in October. See the graph on US Daily Deaths here. Click on graph for larger image.This data is from the COVID Tracking Project.The percent positive over the last 24 hours was 8.0% (red line is 7 day average).For the status of contact tracing by … [Read More...]
Saturday links: TikTok for adults
AutosThe international trade in used cars is helping to keep high carbon cars on the road. (axios.com)Does GM’s ($GM) Hummer EV help or hurt the cause of de-carbnonization? (bloomberg.com)EVs are upending the definition of ‘muscle car.’ (nytimes.com)Consumer Reports ranks GM’s Super Cruise above Tesla’s Autopilot. (engadget.com)Dead bugs are wreaking havoc with AV systems. (debugger.medium.com)TransportThe inter-city business has nearly ground to a halt. (cnn.com)Can the bike boom keep going, post-pandemic? (msn.com)Harley Davidson ($HOG) has built a cool, new e-bike. (bicycling.com)How close are we to autonomous ships? (wired.com)A look at where cruise ships go to die. (nytimes.com)EnergyExxonMobil ($XOM) is no hurry to shift away from oil and gas. (ft.com)How the wind industry … [Read More...]
'A global conspiracy against God and humanity': Controversial Catholic archbishop pushes QAnon themes in letter to Trump
The letter by Archbishop Carlo Maria Viganò, a former Vatican ambassador to the U.S. and outspoken adversary of Pope Francis, hit many of the favorite themes of the pro-Trump conspiracy theory. [Read More...]
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