News From the Control Tower - 12/8/2021
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. The Mutual Fund That Ate Wall Street—Based on an Index Few People Know About
Vanguard’s Total Stock Market Fund, at $1.3 trillion in assets, is a market unto itself—powered by an unassuming index called CRSP
2. How a Cream Cheese Shortage Is Affecting N.Y.C. Bagel Shops
Supply chain problems that have hit businesses across the country now threaten a quintessential New York treat.
3. A lack of chargers could stall the electric-vehicle revolution
Forget Tesla’s production hell. The hardest bit of EVs is the powering up
4. The Effects of Major Retailers Raising Their Minimum Wages
Minimum wage announcements by national firms have striking spillovers to other firms. Many employers responded to Amazon’s $15 minimum wage by matching it.
5. Peter Lynch Says All-In on Passive Investing Is All Wrong
“We’ve got fund managers year-after-year, who beat the market so I think active is still fantastic. I think people are missing the boat…. If you look at the record, this is very measurable.”
Bonus: Australia Is the Drunkest Country in the World
People from Australia are getting wasted at a much higher frequency than the rest of the world, according to a global drug survey.