This week’s highlights: Early bedtimes, tax loss harvesting, and fly fishing
by David Wells – Nashville TN
It’s hot and sticky everywhere as we hit the dog days of summer. If mild weather has been a saving grace to feeling cooped up, I think we are all going to feel stir crazy when being outdoors is not available as a ‘relief valve.’ Yes, we know you folks in the Southwest – “it is a dry heat.” But for those of us in the Southeast, it’s down right uncomfortable when it’s 75 degrees with 94% humidity at 6AM, as it was in Nashville today.
- When a Family Business Becomes an “Heirloom Asset” Treating a business like an heirloom is a risky proposition. Businesses exist in a dynamic marketplace. While a family may wish to honor its legacy for generations to come through owning and operating the same business – it must also carefully consider whether they are the right owner to steward the business into the future.
Food for Thought
- FT – Martin Wolf: ‘Democracy will fail if we don’t think as citizens’ “Around what idea might politics, society and the economy now revolve? The answer should be citizenship, a concept that goes back to the city states of the Greeks and Rome. In a democracy, people are not just consumers, workers, business owners, savers or investors. We are citizens. This is the tie that binds people together in a shared endeavor.”
- Slate – In Defense of Absurdly Early Bedtimes “I make my kids go to sleep by 7:30 p.m., without exception. They’re happier and might even be smarter and healthier because of it.
- NYT – Monster or Machine? A Profile of the Coronavirus at 6 Months An interesting look at what science is telling us about our new viral companion.
- Humble Dollar – Did It Myself “Even though there were days when I wished I could have hired someone to complete a project, I was confident my sweat equity would pay off.”
- Financial Analysts Journal – An Empirical Evaluation of Tax-Loss-Harvesting Alpha Advances in financial technology have made tax-loss harvesting more feasible for retail investors than such strategies were in the past. We found that a tax-loss-harvesting strategy yielded a before-transaction-cost tax alpha of 1.08% per year for our sample period.
- Forbes – Meet Lee Fixel: Low-Key Investor Who Turned Bets On Flipkart And Peloton Into Billions —And Has A $1.3 Billion Fund To Do It Again
- Benedict Evans – Summer update: Tech and the new normal
- AWCS – The Nifty Fifty and the Old Normal What happened next to these “one decision” stocks is a tale as old at time.
- NYT – ‘Far Side’ Cartoonist Gary Larson Shares First New Work in 25 Years In a note on his website, Mr. Larson thanked a clogged pen for pushing him to create digital cartoons on a tablet. “I’m just exploring, experimenting, and trying stuff,” he said. “New Stuff.”
- ArsTechnica – The remote British village that built one of the UK’s fastest Internet networks The serene, postcard-perfect village of Clapham is becoming known for more than its views.
- CNBC – Storied apparel brand Brooks Brothers files for bankruptcy as it seeks a buyer and closes dozens of stores
- WashPo – Casting about for a pandemic-friendly pastime? Eight reasons to consider fly-fishing.