Earnings Mirage, Dark Offshore Economy and Elvis Costello’s Play List

(Bloomberg Opinion) -- The weekend is here! Pour yourself a mug of Sumatra coffee, grab a seat by the ocean and get ready for our longer form weekend reads:

• Inside the Geeky, Quirky, and Wildly Successful World of Quant Shop Two Sigma (Institutional Investor)
• Inside the conflict at Walmart that’s threatening its high-stakes race with Amazon (Vox) but see Amazon Is Watching (OneZero)
• The Earnings Mirage: Why Corporate Profits are Overstated and What It Means for Investors (O’Shaughnessy Asset Management)
• Sun, Sand, and the $1.5 Trillion Dark Offshore Economy (Bloomberg Businessweek)
• How Costco quietly became a $7-billion fast-fashion powerhouse (Fast Company) see also How Costco gained a cult following — by breaking every rule of retail (The Hustle)
• The Problem With HR: For 30 years, we’ve trusted human-resources departments to prevent and address workplace sexual harassment. How’s that working out?  (The Atlantic)
• Superhuman is Spying on You (Mike Industries)
• Welcome to the fastest-heating place on Earth: In the world’s northernmost town, temperatures have risen by 4C, devastating homes, wildlife and even the cemetery. Will the rest of the planet heed its warning? (The Guardian)
• Why Bugs Deserve Our Respect (Longreads)
• Elvis Costello created a mammoth list of the 500 most essential albums in music history (Far Out)

What are you reading? Hit me here with hashtag #Reads.

Job growth dating back to end of the financial crisis continues

Source: Len Kiefer, Freddie Mac

To contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.net

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of “Bailout Nation.”

©2019 Bloomberg L.P.