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10 Friday AM Reads My end of week morning train WFH reads: • Stock Market Returns Are Anything But Average From 1926-2020, average U.S. stock market return was ~10% / year. Investing in the stock market would be way easier if you could simply bank on 10% year in and year out. Unfortunately, it doesn’t work that way. It’s the Catch-22 of investing in risk assets. If you want consistency over the long haul, you have to accept lower returns. And if you want higher returns over the long haul, you have to accept more volatility. (Wealth of Common Sense) • Corporate Tax Loopholes Matter More Than a Higher Rate A larger percentage figure just gives companies more room to maneuver to avoid paying what they should. (Bloomberg)

New yorkUnited statesJoanne choryMiller samuelElon muskJonathan millerSupreme courtNew york timesWashington postSupreme court is frightened to deathCommon senseCorporate tax loopholes matter more thanHigher rateIts own tax class thisWall street journalBitcoin doesnt fix defi