The Leyendecker View: How Private Equity Became a Beta Play«Back


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The Leyendecker View: February 28, 2020


Much of the social history of the Western world the last three decades, 
has been a history of replacing what worked with what sounded good.”
- Thomas Sowell


THE VIEW FROM OUR SERVICE MARKETS

Banking


BofA stages a quiet comeback
CEO Brian Moynihan does good.
 
Goldman Sachs and Amazon talk middle market lending
Maybe the banking oligopoly will find a challenger.

25% of bank jobs will be eliminated by automation
Where are we all going to work tomorrow?
 
Investing
 
Berkshire Hathaway’s 2020 letter
The Oracle of Omaha’s annual view.
 
Is a rural investment bubble coming?
The rich are throwing money at “opportunity zones.”
 
The three-headed monster
Index funds may be too concentrated.
 
Alternative Assets
 
How private equity became a beta play
Too many big funds suggest it may be time to go small.
 
Five hedge fund managers made over $1B last year
Maybe it’s not a dying asset class.
 
Is it skill or luck
That creates above-mean private equity returns?
 
The C-Suite
 
Employee motivation in the age of automation and agility
How to keep the team focused during dramatic change.
 
The CEO’s new technology agenda
McKinsey’s take on where to focus attention.
 
What to disclose with the Coronavirus
Gonna be a tricky earnings season.
 
THE BROADER VIEW
 
Economy
 
U.S. household debt sets record
Consumption is what drives this economy!
 
U.S. manufacturing is ticking up
Will Coronavirus fuel even more domestic momentum?
 
Larry Summers or Ben Bernanke?
Who is right about the Fed’s influence on next recession?
 
The American Experience
 
The worst U.S. states for corruption
No surprise which one tops the list.
 
Millennials are quite thrifty
25% have $100K or more in savings.
 
Can San Francisco be saved?
Some locals provide their perspectives.
 
The Tech World
 
MIT’s top 10 tech advances
Their 2020 list.
 
FTC may reverse a bunch of tech acquisitions
Would it be productive, or stifle innovation?
 
Teslas can be hacked
Was only a matter of time.
 
The War on Carbon
 
Japan building more coal plants
Huh? What? Why?
 
The anti-Greta Greta
A German teenager denounces climate alarmism.
 
The easy and cheap solution to global warming
That climate change activists don’t talk about.
 
Global
 
China, the world’s manufacturing superpower
Wowsville on its market share.
 
European unemployment
Still very high in some countries.
 
Grab some Greek sovereign debt
Investors are piling on.
 
THE DEEPER VIEW
 
A Better You
 
The surprising science behind friendship
It’s important to both your emotional and physical well-being.
 
How you are feeling, or where you are going?
Which is best to focus on?
                          
Time explained in 4 minutes
Learn how to slow time down.
 
For Deep Thinkers
 
Today’s pop songs are sadder than 50 years ago
It’s not all about love anymore.
 
The Prosperity Paradox author speaks his mind in one of his last interviews
The late Clayton Christensen believed God wants us to be successful.
 
The future of psychedelic drugs
Could be right around the corner.
 
THE FUN VIEW
 
Kanye and Kim in Wyoming
Influencers are going rural.
 
The 16 best new restaurants in the U.S.
Foodies, get out your frequent flier miles.
 
The best brewery in every state
Some Texans may beg to differ.
 
IN CASE YOU MISSED IT
 
Leyendecker on Careers: Tiny Habits, Big Changes
February 14, 2020
 
The Leyendecker View: The Top 10 Stocks of the Last Decade
January 31, 2020
 

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