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My leaving-on-vacation, morning plane reads (see you in 10 days!):
• There’s No Easy Exit for Companies Backed by PE and VC: Verdad Advisers’ Dan Rasmussen argues that rising debt costs, compressed margins, and negative cash flow make for a “pretty scary” picture of the health of private companies. (Institutional Investor)
• Hedge Funds at War for Top Traders Dangle $120 Million Payouts: Paid sabbaticals, huge signing bonuses are among tools being used, as clients foot the bill in chase for steady returns. (Bloomberg)
• Why Your Steak Is Getting Pricier: Ranchers are shrinking cattle herds because of drought and high costs, cutting down the nation’s supply of beef. That threatens to push prices for steaks and burgers to records. (Wall Street Journal)
• A Brief History of Dollar Hatred: The current wave of animosity towards the USD is not the first – and it will not be the last. (Money: Inside and Out)
• How Managers of Pension Funds, OCIOs Are Approaching Risk: Whether aiming to transfer or reduce risk or looking to diversify, managers are considering a wide range of options, including private credit. (Chief Investment Officer)
• Unpacking an economic titan: Hayek was not, and always insisted that he was not, a laissez-faire economist. (The Critic)
• In Defense of the Lawn: Two-thirds of United States homes are occupied by people who own them (or are paying off a loan in order to be able to own them). Both the numbers and the eyeball evidence indicate that people of all political orientations and racial backgrounds, in both red and blue states, continue to seek ownership of homes and yards, and to take an interest in maintaining them, despite their increasing unaffordability and the various problems associated with them. (Slate)
• Saturn’s Rings Could Be Younger Than Flowers: We’re lucky that a relatively recent catastrophe created the gas-giant spectacle. (Nautilus)
• ‘I was the Spotify of the 1980s!’ The Italian pirate mixtape empire that brought pop to the people: Started from an illegal market stall, Mixed By Erry became Italy’s third biggest record label – until police cracked down. A new film asks whether the founders were heroes or criminals. (The Guardian)
• He’s the Best Player in the NBA. He’s Also the Bloodiest. The Denver Nuggets’ Nikola Jokic has long been near the top of the leaderboard in points, assists and rebounds. He leads the league in flesh wounds, too. (Wall Street Journal)
Be sure to check out our Masters in Business next week with Ramit Sethi writes about money, business, and psychology. He is the author of NYT bestseller I Will Teach You to Be Rich and the host of the popular Netflix series “How to Get Rich.”
The Great Resignation is over, quit rates return to pre-pandemic levels
Source: Axios
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Ritholtz Reads will be on vacation next week, and will return June 15th.
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