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Presidents Don't Influence the Economy as Much as You Might Think

Barron’s had crowed that there “has never been a President with a fundamental understanding of economics better” than Hoover’s, yet the stock market crash of 1929 and the onset of the Great Depression were so severe that Hoover had little scope for action. His bad fortune provided the impetus for the turn to Roosevelt, which to
Barron’s dismay would last a generation, including eight years of Harry Truman and his “big-government boys.”
But the pendulum would eventually swing back, and American politics since then has been characterized by fairly rapid swings between the extremes of laissez-faire on the right and big government on the left. ....

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Intel Has Lost Ground to AMD and Nvidia and Apple Ditched Its Chips. Why Its Stock Can Rise Anyway.

Until now. This past week, Apple announced three new Macs that jettison Intel processors in favor of Apple’s own in-house designed chips. Apple touted the move as a sign of innovation. For Intel, it was symbolic of the company’s gradual decline. The company’s road map no longer leads the industry. In fact, industry insiders and analysts say its manufacturing process is at least two years behind
Taiwan Semiconductor Manufacturing
(TSM), the world’s largest maker of semiconductors. The company makes chips for many of Intel’s rivals, including Advanced Micro Devices (AMD) and
Nvidia
(NVDA), which design but don’t fabricate chips. The so-called fabless model has become the preferred approach for investors, who no longer see much value in Intel’s soup-to-nuts model. ....

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Welcome to the Fake Office Commute (Turns Out People Miss the Routine)

https://www.wsj.com/articles/welcome-to-the-fake-office-commute-turns-out-people-miss-the-routine-11610383617
Holly Hein, who lives in Portland, Ore., walks around the block mornings before work to pretend she is ‘commuting.’
Elizabeth Turgeon
Welcome to the Fake Office Commute (Turns Out People Miss the Routine)
Driving downtown for coffee. Walking around the block. Dedicated reading time. People are trying ways to mark the start and end of the work day; ‘There needs to be a contrast’
Holly Hein, who lives in Portland, Ore., walks around the block mornings before work to pretend she is ‘commuting.’
Elizabeth Turgeon
By
Jan. 11, 2021 11:46 am ET
For more than a decade, Holly Hein rode the #10 bus 45 minutes to her administrative job at Portland State University in Oregon. She would plop onto her usual spot at the back of the bus and “space out” with a book. At close of bus ....

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Maradona Devotees Created Their Own Church for Hero Worship

Jan. 10, 2021 1:42 pm ET
In cultures where soccer is almost a religion, it doesn’t take a leap of faith to join Argentina’s Church of Maradona, which has elevated Diego Maradona from soccer legend to higher power.
Over two decades, church followers have spread to Brazil, Mexico, Spain, Italy and beyond, one founder said, and they now number in the tens of thousands. Mr. Maradona’s death in November from cardiac arrest was a blow to fans, especially those who deemed the soccer idol worthy of worship.
“We talked, we cried, we told stories,” said Iván Rodríguez, a 31-year-old in Buenos Aires who represents the church in the Argentine capital. “You feel more united with people who have the same devotion for Diego.” ....

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Yelp Stock Deserves a Positive Review

Yelp
stock might merit only a one-star review for 2020.
The widespread shutdown of indoor dining has weighed heavily on the online recommendation service. Yelp shares have lost 20% of their value this year, trading at a recent $26.53 and underperforming the
Nasdaq Composite
index by more than 60 percentage points.
Yet changes in its business model, combined with hopes for a reopening of the economy as Covid-19 vaccines arrive, give reason to think that Yelp (ticker: YELP) can reach for the stars.
Yelp is trading for a modest two times estimated forward sales, well below
TripAdvisor
(TRIP) at 3.5 times and
Booking Holdings
(BKNG) at eight times. And really, the stock is even cheaper: Yelp ended September with almost $600 million in cash. That’s close to 30% of its market cap of just $2 billion. The company has also vowed to buy back stock in the current quarter. ....

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