This week's reads feature:
1. How’s the Economy Doing? Watch the Dentists
2. New filing shows Robinhood brought in close to $100 million by offloading order flow in the first quarter
The trading app Robinhood does not charge users for stock trades. Recent filings show Robinhood sells their user data to hedge funds for significant sums – they took in over $100M in the first quarter of the year.
3. The Story Behind Shundrawn Thomas’s Open Letter to Asset Management
4. The Illusion of a Rapid US Recovery
Economist James Galbraith says America's economy – based on global demand for advanced goods, consumer demand for frills, and ever-growing household and business debts – was in many ways prosperous. But it was a house of cards, and COVID-19 has blown it down.
5. Top US pension fund aims to juice returns via $80bn leverage plan