Saturdays are all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look why rudeness is on the rise.
Quote of the Day
"Every stock market, in hindsight, is seen as having been “expensive” or in a “bubble” when the network of confidence that holds it together breaks down, i.e., when people panic and sell out of it, driving it sharply lower. And every stock market, in hindsight, is seen as “fairly valued” when it suffers no panic and slowly appreciates as it’s supposed to do."(Jesse Livermore)