Weekly Mixtape For August 29th, 2021

Week In Review Articles

The WSJ: Powell Says Fed Could Start Scaling Back Stimulus This Year

The WSJ: Fed Chairman Powell Navigates the Inflation Debate

The WSJ: U.S. Jobless Claims Rise but Hold Near Pandemic Low

CNBC.com: Pandemic Unemployment Benefits End In September—Here’s Who Loses Aid

The WSJ: FDA Gives Pfizer-BioNTech Covid-19 Vaccine Full Approval

The WSJ: Crypto Firms Want Fed Payment Systems Access—and Banks Are Resisting

Weekly Mixtape

Morgan Housel: Rules, Truths, Beliefs Everyone has a story but few have an audience,” so there’s so much going on in the world that almost everyone is blind to.”

The Belle Curve: The Carrot and the Stick “Which incentive is more powerful – The Carrot or The Stick? Any parent of a three-year-old can tell you that both are necessary. The trick is to find the right balance between the two. Too much Stick and the child loses confidence. Too much Carrot and the child learns to skirt the rules.”

RiversHedge: On The Head-fake Of The Precision In Spend Rates In Retirement  ” But the point is that I no longer perseverate too much on spend rates or certainly not on too many rate decimals. I perseverate, rather, on process control. That kind of process control thing is not in the lit too much but probably it should be…not least because everything is always changing: wealth, consumption needs, risk aversion, income, everything…’

Of Dollars and Data: Are We In A Melt-Up “Therefore, my best advice is to ride the wave and see where it takes you. It’s okay to make minor course corrections along the way, but giving up altogether is probably the worst thing you could do.”

Barry Ritholtz: What Was Your Worst Trade? Nobody wants to hear about the big winners — were they luck or skill? But it is the losers that are more interesting and revealing. There are lessons to be learned here, and ideas worth exploring.”

The Reformed Broker: Ask Yourself This: Why Wouldn’t It Go To $100,000? “Don’t say it can’t get there because there are too many sellers. Bitcoin is one of the rare investable instruments that is seemingly a better investment the higher it goes. Do you know what a Veblen good is? Veblen was a brilliant and slightly unhinged economist who figured this out: “A Veblen good is a good for which demand increases as the price increases, because of its exclusive nature and appeal as a status symbol. A Veblen good has an upward-sloping demand curve, which runs counter to the typical downward-sloping curve…Most often, when the price of a Veblen good goes up, the demand goes up; when the price of a Veblen good goes down, the demand goes down.””

Not Boring: Solana Summer “Solana might have the best tech of any blockchain on the market, but the best tech is wasted without a strong community of developers and users. The Solana community is strong and passionate. You can spot them by the Pit Viper shades in their pfps and ◎’s where o’s should be. But it needed something to take it crypto mainstream.”

Hunter Walk: Most Startup ‘Pivots’ Aren’t Really Pivots, They’re Just What Startups Are Supposed To DoA pivot is when you are shifting completely. Moving to a completely different set of problems, customers and product, not merely processing the learnings from your most recent efforts.”

Thomas Kopelman: Top 5 Personal Finance Books You Need To Read

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