Financial Times (April 16)
“More than a third of Russians cannot afford to buy two pairs of shoes a year, and 12 per cent use an outdoor or communal toilet at home,” according to Russias statistics agency, Rosstat. These and other findings underscore “deepening economic gloom as tepid growth, five years of falling real incomes, high inflation, rising taxes and cuts to social handouts squeeze people.”
Tags: Afford, Economic gloom, Handouts, Inflation, Real incomes, Russia, Shoes, Statistics, Taxes, Tepid growth, Toilet
Investment Week (April 16)
“Too much excitement can easily lead to too much capital chasing too few ideas. This pushes up valuations and ruins the investment opportunity.” In the last 15 years, Tesla has revolutionized the automotive industry, but investors may do better with less glamorous automakers. “Tesla will lose its lead.” Its “early technological lead” will close over time “because history has shown that technology differentiation in the auto industry does not persist.”
Tags: Differentiation
