10 Weekend Lectures – The Big Picture

The weekend has arrived! Pour yourself a mug of organic Peabody bean coffee, sit by the window and get ready for our longer weekend:

The market is wrong, brother: stocks are going up, stocks are going down and confirmation bias† The market is not wrong. It’s just the market. The only thing ‘right’ or ‘wrong’ is how we react to the market. Be wary of assuming that profitable price movements confirm your ideas, and don’t dismiss every dip as an irrational market. (Young money)

The Turkish drone that changed the nature of warfare: The Bayraktar TB2 has brought precision air strikes to Ukraine and other countries. It is also a diplomatic tool enabling the rise of Turkey. (New Yorker)

Elon Musk’s fixer is quietly making the world’s greatest fortune: Jared Birchall is the right-hand man doing everything from drafting Twitter deal financing to digging up dirt on opponents. (Bloomberg)

On the front lines of Japan: For millions of Japanese, the confrontation between the US and China is already a reality. Japan is frontline of US-China conflict (Business Week)

The Bronc-busting, Cow-punch, Death-defying Legend of Boots O’Neal He is approaching 90 and is still saddled up at the Four Sixes Ranch. Just don’t call him “the last cowboy.” (Texas monthly)

About those kill-switched Ukrainian tractors: What John Deere did to Russian looters, anyone can do to farmers, anywhere. (Medium)

When animals shed their wings: Worker ants can get wings, but they don’t. Ant and termite queens destroy theirs after mating. Many island birds evolve into flightless. Can evolution explain why (Quillette)

The Secrets Ed Koch Carried To many New Yorkers, he was their brash and rambunctious mayor. But friends now describe the personal strain a public man must endure trying to hide his sexual orientation. (Note to non-New Yorkers: This wasn’t a closely guarded secret in 1980s NY) (New York Times)

mechanical watch: In the world of modern wearables, it might be hard to believe that just a few decades ago, the most convenient way to keep track of time was a mechanical watch. Unlike their quartz and smart siblings, mechanical watches can run without batteries or other electronic components. (Bartosz Ciechanowski)

Wings, sweat and tears For stars like Kevin Hart, Idris Elba and Lorde, eating spicy wings is the key to recognition. (Eater)

Be sure to check out our Masters in Business with Boaz Weinstein from Saba Capital next week. The hedge fund specializes in Credit Default Swaps, Tail Protection & Volatility Trading. Saba is one of the 5 largest SPAC investors. Previously, Weinstein was Co-Head of Global Credit Trading at Deutsche Bank and a member of the Global Markets Executive Committee. Weinstein became infamous as the trader on the other side of the London Whale trade against JPM, which lost the bank $2 billion and made Saba hundreds of millions in profits.

Experts say numbers show the importance of boosters – and the risks the most vulnerable still face

Source: Washington Post

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