Also: LVMH's hot streak, Friday firings, NetSuite RTO.
Good morning.
If the economy is headed for recession, where should you put your money? That’s the question addressed by Fortune’s new Quarterly Investment Guide, which you can read this morning here.
For the first time in a long while, we look at how to make meaningful returns from money market funds and other near-cash vehicles, which now offer returns of up to 5%. (See the best ones here.) Why take a risk in the stock market if you can get risk-free returns like that?
Experts caution against an all-cash strategy, however, saying it’s the equivalent of trying to time the market. At some point, stocks will shoot up, and if you aren’t in the market when that happens, you’ll miss out on the action. So here are some strategies for picking the best stocks. And if you believe we boomers are less qualified to give investing advice than younger folk, here are 10 stocks highly favored by Gen Z.
Separately, I spent a day this week in Montgomery, Ala., visiting The Legacy Museum and the National Memorial for Peace and Justice with a group of corporate executives, courtesy of Fortune’s partners at EVERFI. The museum and memorial were the brainchild of Bryan Stevenson and created to commemorate the experience of Black people in America. It’s an immensely moving pair of exhibits, and one I would recommend to everyone who manages people. An immersive mix of words, images, data graphics, and video conveys the injustices inflicted on Black Americans over the last 400 years—flowing seamlessly from the slave trade to Jim Crow-era lynchings to modern mass incarceration and police killings. Experiencing it won’t make you “woke”—but it will awaken you to a powerful truth shaping modern American life.
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
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Stock surge
LVMH is on a tear. Already the largest company in Europe by market cap, the luxury house has now broken into the world's top 10 after a first-quarter sales beat pushed shares up 5% and its value neared $500 billion. LVMH's surging stock has solidified founder and CEO Bernard Arnault's lead as the world's richest person.
Friday firing day
Barbara Corcoran, Shark Tank personality and founder of The Corcoran Group, has revealed that she reserves Fridays for firing her worst employees. On a podcast, Corcoran explained how she takes pleasure in firing negative and chronic complainers who she believes are ruining her team's positivity. Fortune
June approaches
Oracle's NetSuite unit is joining other tech firms in enforcing stricter return-to-office policies, requiring most employees within a 45-minute commute of an office to work in-person at least twice a week starting June 1. Employees who are newly hired or not meeting expectations must work in-office at least three times a week, while fully remote workers must be meeting or exceeding expectations. Bloomberg
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Cloud trends and strategies for innovation According to Deloitte’s Future of Cloud Survey Report, the cloud can be a force multiplier for business performance and digital transformation. Explore cloud innovation insights and trends from the report, including how leaders might reduce uncertainties and gain the most value from cloud investments. Read more
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The 100 Best Companies To Work For |
The 2023 list is out If we've learned anything from more than two and a half decades of ranking businesses, it's that everything is always changing. But building a culture of trust and transparency is essential to help everyone thrive, especially in rocky economic times. Explore the list. |
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