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Quote of the Day
"The greatest trick the devil ever pulled was convincing investors they need to do something right now."
(Brendan Mullooly)
Markets
- Market moves don't have to fit some logical narrative. (thereformedbroker.com)
- Three-day buying thrusts like we just saw are bullish historically. (sentimentrader.com)
- "The medium to longer-term trend is more important that any intermediate counter-trend rallies." (priceactionlab.com)
Strategy
- Like Warren Buffett, all you can do i focus on what you can control. (novelinvestor.com)
- There is a big gap between financial noise and information these days. (blog.brinkercapital.com)
- Lessons from Joel Greenblatt's book "The Big Secret for the Small Investor." (novelinvestor.com)
Companies
- Big Tech is going to lose advertising revenue through this. (axios.com)
- Coronavirus-related video game console shortages portend a surge in gaming. (ftalphaville.ft.com)
- Luxury retail is uniquely affected by the pandemic. (nytimes.com)
Finance
- BDCs are uniquely at-risk in the midst of the coronavirus sudden stop. (institutionalinvestor.com)
- Soaring market volatility is giving a big boost to the bottom lines of HFT firms. (wsj.com)
- Pausing mortgage payments will have a lot of downstream effects. (thebasispoint.com)
ETFs
- Ben Johnson, "Premiums and discounts to net asset value are a feature of exchange-traded funds, not a bug." (morningstar.com)
- Why bond ETFs differ from their NAVs and what, if anything, to do about it. (etftrends.com)
Restaurants
- Closing a restaurant is not as simple as closing the doors and turning off the lights. (eater.com)
- When a restaurant closes the pain radiates outward. (wsj.com)
- Laid off restaurant workers are now in need of help. (nytimes.com)
- Coronavirus is not an unmitigated good for food delivery apps. (ft.com)
- What one restaurateur is doing to plan for the future. (eater.com)
- LA's taco trucks are struggling. (latimes.com)
Covid-19
- All the Covid-19 statistics we have flawed. (theatlantic.com)
- Seasonal flu activity is falling sharply. (calculatedriskblog.com)
- Social distancing efforts have substantial economic benefits. (papers.ssrn.com)
Global
- Australia was able to avoid a recession for some nearly three decades. That is, until the coronavirus pandemic hit. (nytimes.com)
- New coronavirus cases in Italy finally seem to be slowing. (washingtonpost.com)
- China's new infection data may not be accurate. (ft.com)
Economy
- Why the Fed and Blackrock ($BLK) are besties. (ft.com)
- The Fed can do a lot of stuff, but it can't stop a pandemic. (nytimes.com)
- How bad could the US job picture get? (ftalphaville.ft.com)
Earlier on Abnormal Returns
- Podcast links: a welcome respite. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: accelerating change. (abnormalreturns.com)
