My back-to-work morning train WFH reads: • Why Hot Wheels are one of the most inflation-proof toys in American history: Hot Wheels are a retail oddity. They remain one of the most affordable toys in the country at a time when inflation is chipping away at savings accounts and compounding credit card debt for many Americans. (NPR) • The Fed Is Making a Mistake—and the Stock Market Will Pay the Price: The central bank raised interest rates by half a point and promised to hold rates higher for longer. That could be a problem. (Barron’s) see also What the Fed Gets Wrong: If I were Fed Chairman, I would declare inflation is defeated, plant my flag and claim victory, then go home. The battle has already been won. The bigger risk today is snatching defeat from the jaws of victory. (TBP) • Hit by a ‘Perfect Storm,’ Risk Parity Managers Try a More Active Approach: Poor performance is expected in a downturn — but these managers say they can stem the losses. (Institutional Investor) • Why does good news about the economy sound bad to the Fed? The complicated reason why he could push us into a recession. Wages and employment are high — but so is inflation. (Grid) • What if TikTok really just wants to sell you stuff? Understanding the appeal of ads for ads. (Financial Times Alphaville) • Young people feel like they have no future due to climate change; we need to change the narrative: More than half of young people think “humanity is doomed” due to climate change. We need to reframe the narrative from doom and sacrifice, to one of opportunity. (Sustainability by numbers) • How the Brain Distinguishes Memories From Perceptions: The neural representations of a perceived image and the memory of it are almost the same. New work shows how and why they are different. (Quanta) • ‘Wiped out’: War in Ukraine has decimate a once feared Russian brigade: The bloody fate of the 200th Separate Motor Rifle Brigade is emblematic of Vladimir Putin’s derailed invasion plans. (Washington Post) • Brains, Brown or Both: What Drove the Creation of Modern Dog Breeds? Genetic variants associated with brain development help distinguish breeds designed for different physical tasks, a new study reports. (New York Times) • The night Messi won the World Cup – told with some help from the man himself: An epic final showdown between Argentina and France delivers beyond expectations. (The Athleteic) Be sure to check out our Masters in Business this week with Robert Koengisberger, founder and CIO of Gramercy Funds Management, which manages $5.2 billion in distressed Emerging Markets Debt. Gramercy’s chairman is (previous MiB guest) Mohamed A. El-Erian; The firm is a sponsor of the Greenwich Economic Forum. It’s Been a Rough Stretch for ETFsSource: Barron’s Sign up for our reads-only mailing list here.