Super-interesting from the finance industry newsletter Short Squeez: now that Trump is trying to turn the Bureau of Labor Statistics into a Trump propaganda vehicle, professional investors are making all kinds of other plans to get legit reliable data.
I was hoping this would happen
The problem with ‘reliable’ private data is that if diverges from what dear leader pubishes, there is real existential risk for the firm and personal safety risk for the author. Welcome to tyranny!
The ADP data has always been more accurate than any data the government has because it is real payroll data. The government data is outdated and delayed and based on statistical sampling of data that is manually reported (and thus always behind the times). ADP needs no sampling and it's real time.
A logical, predictable step