Instagram’s Smartest Move and Too Many Tourists

(Bloomberg Opinion) -- My end-of-week morning train reads:

  • “Stories” was Instagram’s smartest move yet (Recode)
  • Who Killed the Great American Cable-TV Bundle? (Bloomberg)
  • Tips for Aspiring Portfolio Managers (CFA Institute)
  • Strong corporate earnings are making stocks look less expensive than they did before (Wall Street Journal)
  • “What Have We Done?”: Silicon Valley Engineers Fear They’ve Created a Monster (Vanity Fair); see also What Silicon Valley still gets wrong about innovation (Venturebeat)
  • Forget Old Glory — Why Betsy DeVos’s Family Yacht and Others Fly Foreign Flags (Capital and Main)
  • Good Things Happen in Bookstores (Medium)
  • Make America Asbestos Again (Washington Post)
  • Residents of Tourist Hot Spots Want Their Cities Back (City Lab); see also In Amsterdam, Even the Tourists Say There Are Too Many Tourists (NPR)
  • Meet the Scammers Who Used MoviePass For Vengeance, Free Popcorn and Pooping (BuzzFeed)

Be sure to check out our Masters in Business interview this weekend with Lee Cooperman, CEO and chairman of Omega Advisors, a New York-based hedge fund managing $3.5 billion, which is being converted into a family office. Cooperman, 75, is an active philanthropist, a member of the Giving Pledge, and has committed to giving his wealth away in his lifetime.

Correlation between currency and local stock market, ex S&P 500 beta impact

Instagram’s Smartest Move and Too Many Tourists

Source: GMO

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.”

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