Friday's Fast Five: Week of 2.3
Why Invest in Stocks When Bond Yields Are Higher? (A Wealth of Common Sense): In the fall of 1981 the yield on 30 year U.S. Treasury bonds hit 15%. The funny thing is when bond yields hit these levels in 1981 no one wanted to buy them. There were many reasons to shun bonds in the early-1980s. Inflation was so high that real returns weren’t nearly as juicy as those abnormally high nominal yields. No one knew at the time that rates and inflation were peaking and about to fall for four decades.
He Was Compared to Tiger Woods. So Why Did He Walk Away From Golf? (The New York Times): Is it OK for an athlete — or anyone, really — to have an extraordinary gift and not use it? The golfer Anthony Kim apparently decided, emphatically, that it is.
How Gautam Adani Made (and Could Lose) a $147 Billion Fortune (The Wall Street Journal): His name is plastered on roadside billboards and on the airports and shipping docks he operates. His power plants light Mumbai office towers and irrigate rural fields, fueled by coal he imports from mines as far away as Australia. He recently expanded into defense and media. So when U.S. short seller Hindenburg Research alleged last week that the Adani Group—the energy and infrastructure conglomerate he controls—was engaged in wide-ranging fraud, the fallout was widespread and severe.
This 22-year-old is trying to save us from ChatGPT before it changes writing forever (NPR): The technology is both awesome — and terrifying. "I think we're absolutely at an inflection point," Edward Tian says. "This technology is incredible. I do believe it's the future. But, at the same time, it's like we're opening Pandora's Box. And we need safeguards to adopt it responsibly."
Blinken postpones trip to China after balloon discovery (Axios): China's Foreign Ministry said the balloon over Montana that's tracked by the Pentagon originated in China but claimed it is a civilian airship for "mainly meteorological" purposes. Pentagon press secretary Brig. Gen. Pat Ryder said on Thursday the balloon was "traveling at an altitude well above commercial air traffic and does not present a military or physical threat to people on the ground."