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Quote of the Day
"As usually happens in a market shock, there are proximate causes and collateral factors."
(Michael Santoli)
Chart of the Day
The S&P 500 now yields more than the 30-year US Treasury bond for the first time since 2009.
Markets
- How major asset classes performed in February 2020. (capitalspectator.com)
- Treasury yields are falling but credit spreads are headed higher. (mrzepczynski.blogspot.com)
- A couple of studies from the end of a historic week. (sentimentrader.com)
Strategy
- Buying stocks when they are falling never feels good. (awealthofcommonsense.com)
- We all bring our own baggage to the financial markets and a bear market only serves to amp things up. (tonyisola.com)
- Your portfolio should have been built with the possibility of a bear market in mind. (retirementfieldguide.com)
Fundamentals
- How much do temporary disruptions affect intrinsic value? (brooklyninvestor.blogspot.com)
- The one advantage individual investors have is a longer time horizon. (rationalwalk.com)
- Lessons from the 2019 Berkshire Hathaway ($BRK.A) annual shareholder letter. (novelinvestor.com)
Business
- Elliott Management Corp. wants to oust Jack Dorsey as CEO of Twitter ($TWTR). (institutionalinvestor.com)
- WeWork issues aside, co-working space is only going to grow over time. (morningstar.com)
- Specialty grocery stores are going out of business as organic food goes mainstream. (wsj.com)
Finance
- What banks are doing to prepare for coronavirus. (wsj.com)
- The story behind how European banks became also-rans on Wall Street. (ft.com)
- Public.com hopes celebrity investors will attract investors to its investing app. (variety.com)
Fund management
- The percentage of US fund managers who are women actually fell from 2000 to 2019. (barrons.com)
- Even a money manager as big as Blackrock ($BLK) is not immune from conflict-of-interest issues. (wsj.com)
- Vanguard is ending the monthly payout feature of the Vanguard Managed Payout Fund. (barrons.com)
Coronavirus and the economy
- Are there really any levers that global policymakers can pull at this point to offset coronavirus-induced weakness? (ft.com)
- The best thing policy makers can do for the global economy is try to mitigate the impact of coronavirus. (mrzepczynski.blogspot.com)
- Mexico could be a beneficiary of re-shored production. (wsj.com)
Global
- The UK's Competition and Markets Authority is the world's 'most aggressive antitrust enforcer.' (ft.com)
- Canada is not afraid of immigration. (wsj.com)
Economy
- American workers' inability or unwillingness to take sick days will accelerate the spread of coronavirus. (latimes.com)
- Why the Fed may have no choice but to lower rates. (bloomberg.com)
- Natural gas prices are falling in the face of coronavirus economic weakness. (wsj.com)
- The state of Wyoming is trying to buy millions of acres of land from Occidental Petroleum ($OXY). (ft.com)
Earlier on Abnormal Returns
- Adviser links: life expectancy calculations. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone else clicked on last week on the site. (abnormalreturns.com)
Mixed media
- Barry Ritholtz, "We are what [media] we consume." (ritholtz.com)
- What happens when you quit Facebook? 80% of people are happy they did. (calnewport.com)
- Most Americans don't know that Facebook ($FB) owns Instagram and WhatsApp. (theverge.com)
- Is the New York Times ($NYT) crowding out other journalism? (nytimes.com)
