📊 EV’s Charts of the Week #35

Pandemic legacy, asset classes, heatwaves ++

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DEPARTMENT OF THE PANDEMIC LEGACY

Lasting division?

A new phase in the pandemic has opened (in the West) but the legacy from the first wave will be lasting. Across advanced economies, people believe that the pandemic has left us more divided instead of united. Via Pew

Follow the money

The hot US housing market continues to benefit the rich (and that is a driver of division). A profound example of wealth inequality accelerated by the pandemic.  Via New York Times

Delicate terms

Central banks are finding it increasingly difficult to avoid issues pertaining to inequality. One measure is the number of times central bankers have addressed these ideas in speeches directly over the past two decades. But what should central banks do to remedy the situation? The Economist has some answers. Via The Economist

DEPARTMENT OF ASSET CLASSES

All about diversification

I found this interesting discussion in the Financial Times on the quest to create a single index that could capture all market performance, across all asset classes. The thing that struck me is what the asset allocation of US endowments, traditionally excellent models of stewardship, looks like. Probably vastly different than the simple bond-equity split so strongly recommended by traditional advisors. Via FT

Risk-adjusted returns

Goldman Sachs has placed Bitcoin near the bottom of its risk-adjusted asset returns. While the cryptocurrency is up 16% on the year, it is prone to breathtaking swings in price.  Via Bloomberg

ESG is maturing

Impact investing has given way to some extent to environmental, social, and corporate governance standards. There is real investment (and penalties) associated with the issuance of bonds with clear ESG goals. Finance will be crucial to creating a sustainable economy - mostly transmitted via the mechanism of cost of capital.  Via WSJ (I talk about the link between finance and decarbonisation with Kim Stanley Robinson on the podcast.)

DEPARTMENT OF HEATWAVES

Historic proportions

The heatwave crippling the western areas of North America is unprecedented in many ways. Dr Rober Rohde gives us some perspective using the chart above. He writes on Twitter: “In the 70 years prior to 2021, the worst observed heatwave for the region corresponds to an average of ~35 °C (95 °F). The GEV model estimates the worst possible is ~37 °C (99 °F). But in 2021, we reached 39.5 °C (103 °F)”  Via Dr Robert Rohde

No shade

If we take a step back and look at the rising temperature over the past century, the march of warming is simply unavoidable. Via Climate/NOAA

AND FINALLY

The more things change, the more they stay the same

What does a colour say about the consumer? Maybe not that much, as styles seem to move like ocean waves. Via e-recep

Tech talent pools

Despite a push by smaller cities in the US and Canada to attract top tech talent, major tech centres are holding strong. Via Axios

You’ve never had it so good?

After a shockingly bad pandemic year, more Americans than ever think they are thriving. Via Gallup

Endnote

🤩 Don’t forget to pre-order my first book. Early orders help drive momentum. (As a reader of Exponential View, I’m pretty certain you’ll want to read it.)

📚

Cheers,

Azeem


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