Today's five notable reads:
The “run philosophy” and the “last generation” are the rallying cries for many Chinese in their 20s and 30s who despair about their country and their future. They are entering the labor force, getting married and deciding whether to have children in one of the country’s bleakest moments in decades.
Studying history, we come to realize that a lot of what we experience isn’t as unique as we think it is. The U.S. stock market typically declines by at least: 10% every other year 30% every 4-5 years 50%+ once a generation.
According to Forbes, 236 new billionaire were minted in the last year, translating into an average of 4.5 new billionaires every week. This included the first billionaires from Estonia, Bulgaria, Uruguay and Barbados. The newcomer from the latter country, you guessed it, is singer Rihanna, who build her fortune through her music career and cosmetics line Fenty.
When thinking about the future, we should know what the possible outcomes are, what the outliers might be, and consider which are the more likely result. Approaching the world this way is not only realistic, but it is a healthy way to think about risk and reward.
The recent fall in defined benefit (DB) pension transfer values continued to accelerate in April, with the month-end value at £232,000 representing a drop of 5% compared to the end of March