The Outlook and Ms. Eilish

This is Part 2 of my answer to a subscriber who asked what the big picture “take-away” is, the outlook. If someone forwarded this to you, you can sign up here.

• Investing

Dear Readers…

Today was the first time I mailed out a “subscriber-only” letter. I shared my logic for paid subscriptions a few weeks ago here. From now one, I will make certain letters subscribers only, typically those more closely tied to the investment outlook. If you want to read The Outlook and Ms. Eilish, sign up. If not, we will re-connect next week!

Religion in the Modern World

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• Podcast

A Framework and Soros

If someone forwarded this to you, you can read this post to understand what Things I Didn’t Learn in School is about. Today’s post is free. Next week’s will only be for subscribers. A number of you have already signed up. Thank you. I am going paid for a number of reasons. First, I have a small staff and I want to pay them more. Second, after years managing money, I am trying to figure out if there is value in translating an investor’s thinking to a generalist audience. Putting a price on this information helps clarify that question.

• Investing

Betting on Human Nature

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• Investing

Labor

If you read these posts regularly, forward them and download the podcast, I am making a request—become a paid subscriber or a sponsor. I think you now have a sense of what we are up to. Below, I’ll tell you a bit of where we would like to go.

Speeches That Resonate, Forever

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• Podcast

Moral Man, Amoral Markets

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• Investing

The Talent Skedaddle

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• Geopolitics

China Context

For foreigners, particularly Americans, it’s hard to make sense of Chinese policy because the systems are so different. This is evident in the reaction to Chinese regulators’ decision to defenestrate private Chinese education companies. A representative sample from Bloomberg:  “after a week of wild market swings and tense calls with clients, some investors have decided China just isn’t worth the trouble.” For the record, China’s stock market is up 27% since Jan. 1, 2020 and down 7% this year.  With that in mind, some context.

• Geopolitics