News From the Control Tower - 6/17/2020
This week's reads feature:
1. How’s the Economy Doing? Watch the Dentists
A crucial indicator of whether Americans feel safe returning to normal activities.
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
The Northern Trust President encourages everyone to commit to breaking the silence.
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
Calpers hopes bold move will boost efforts to achieve its 7% return target.
Bonus: Remembering Sara Little Turnbull, Whose Bra Cup Design Became the N95 Mask