The Sunday Drive - 12/18/2022 Edition
👋🏻 Hello friends,
Greetings from Saratoga Springs, NY!
Let's take it easy and enjoy this edition of our leisurely Sunday Drive around the internet.
The Vibe of the Week is a departure from the norm in that the video is not just about the song itself. To me, what's so great about this video is that it is a reminder of how so much wonderful work is derived and augmented by the wonderful work of others who came before.
As I watched the video, and against the backdrop of the Pointer Sisters' hit song, I thought of all the talent that went into the making of the films from which the editor of the video crafted such an amazing showcase of his own talent.
By this Vibe of the Week, I'm reminded of, and am so very grateful for, all the talent and brilliance from which I have had the opportunity to learn over the course of my career.
💡 Quote of the Week
"It isn't where you came from, it's where you're going that counts." - Ella Fitzgerald
💡 Bonus Quote of the Week
"Fifteen years ago, the internet was an escape from the real world. Now the real world is an escape from the internet." - Noah Smith
📈 Chart of the Week
The Chart of the Week highlights how important it is that workers in the U.S. focus on enhancing their cognitive abilities if we are to continue outpace the rest of the world in our collective standard of living.
🤔 The Power of Quitting - Quitting is hot right now. There was the Great Resignation, in which 40 million Americans reportedly left their jobs for better ones. Then there was the recent hullabaloo over quiet quitting, in which people were choosing to do less at work.
💡 Sea Change - Very insightful article by the amazing Howard Marks of Oaktree Capital.
In my 53 years in the investment world, I’ve seen a number of economic cycles, pendulum swings, manias and panics, bubbles and crashes, but I remember only two real sea changes. I think we may be in the midst of a third one today.
📉 Treasury Illiquidity - Leverage, illiquidity, concentration. The higher these are, the more vulnerable the market is.
🤓 The Implications of ChatGPT - ChatGPT is remarkably versatile. It can explain obscure philosophical doctrines, debug computer code, write and revise recipes, and compose stories on any topic—and in any style—the user requests. It remembers context from one question to the next, so if its initial answer isn’t what the user is looking for, the user can ask ChatGPT, in plain English, to revise it.
✂️ The Internet Wants to be Fragmented - Fifteen years ago, the internet was an escape from the real world. Now the real world is an escape from the internet.
I hope you have a relaxing weekend and a great week ahead. See you next Sunday...
Your faithful financial provocateur,
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