Quote of the Day
"If you make billions of dollars for clients, and then lose billions of dollars for them, and you charge 20 percent of profits, then you come out ahead. The taxes are almost a ratification of how well your business model worked out for you."
(Matt Levine)
Markets
- Investor sentiment is now firmly bearish. (disciplinedinvesting.blogspot.com)
- The Treasury yield curve continues to flatten. (capitalspectator.com)
Strategy
- On the difference between tangible and intangible moats. (intrinsicinvesting.com)
- We always forget what a big market decline feels like in real-time. (alphabaskets.com)
- Yale's David Swensen tells Warren Buffett to shove it. (institutionalinvestor.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
- Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)
- Support Abnormal Returns with an annual membership and get access to exclusive stuff. (abnormalreturns.com)
Crypto
- What happens if the price of Bitcoin falls below the cost of mining it? (marketwatch.com)
- Bitcoin hype has disappeared including falling Google search volume. (wsj.com)
Companies
- Why Facebook ($FB) stock rose during the Congressional hearings. (stratechery.com)
- The Apple ($AAPL) HomePod is a bit of a bust. (bloomberg.com)
Funds
Economy
- Weekly initial unemployment claims continue to come in at historically low levels. (calculatedriskblog.com)
- Why the employed get better job offers. (ritholtz.com)
- Economists really don't understand the whys behind economic growth. (economist.com)
- Why are women underrepresented in economics? (ft.com)
Earlier on Abnormal Returns
- Startup links: meeting a need. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: careful attention. (abnormalreturns.com)
Mixed media
