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Quote of the Day
"I say this with some hesitation, but it looks as if the period of extreme volatility has passed."
(Eddy Elfenbein)
Chart of the Day

TSA measured ‘traveler throughput’ is down some 93% year-over-year.
Markets
- A 20% rally need not a bull market make. (ritholtz.com)
- Defensive sectors are leading the bounce. (allstarcharts.com)
Strategy
- The market DGAF about your opinions, or any one else's, for that matter. (theirrelevantinvestor.com)
- The market typically bottoms before the worst of the news is out. (ofdollarsanddata.com)
- Even Warren Buffett can't nail market bottoms. (awealthofcommonsense.com)
Companies
- We are only now coming to terms with the human cost of Amazon ($AMZN) delivery. (finance.yahoo.com)
- At what point will Apple ($AAPL) miss Jony Ive? (rationalwalk.com)
- The financial toll for Airbnb keeps adding up. (axios.com)
- Private equity is now likely regretting its push into the restaurant industry. (institutionalinvestor.com)
- Ugh. Zoom ($ZM) has some questionable privacy practices. (daringfireball.net)
Covid-19 models
- Why making a good Covid-19 model is so difficult. (fivethirtyeight.com)
- Modeling a pandemic is challenging even with good data. (wired.com)
- A drop in Covid-19 deaths is NOT an all-clear sign. (nautil.us)
- Covid-19 will peak in different states at different times. (axios.com)
Good news
- Six Bay Area counties that were first in the country to adopt aggressive tactics seem to have been able to 'bend the curve.' (politico.com)
- Temperature data indicates measure to slow the spread of Covid-19 are working. (nytimes.com)
- Startups are pivoting to help in the battle against Covid-19. (axios.com)
- Tinkerers, inventors and innovators are jumping into the coronavirus fray. (nytimes.com)
- Ad hoc networks are popping up to aid senior citizens with their needs. (wsj.com)
- A Covid-19 antibody test would provide peace of mind to many people. (startribune.com)
- ESPN has moved up the release of its highly anticipated Chicago Bulls documentary series. (variety.com)
- Not all the news in the world is bad, just ask John Krasinski. (kottke.org)
Commodities
- Cheap oil isn't doing consumers much good. (washingtonpost.com)
- Wheat and rice prices have jumped as users stock up. (wsj.com)
- It took a pandemic to get orange juice prices moving higher. (wsj.com)
Economy
- How today's economy is similar to the Great Depression and what is different this time around. (awealthofcommonsense.com)
- The NY Fed has launched a Weekly Economic Index to track the economy in near-real time. (libertystreeteconomics.newyorkfed.org)
- Coronavirus could push Baby Boomers out of the workforce for good. (finance.yahoo.com)
Earlier on Abnormal Returns
- Research links: probabilistic mechanisms. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: working from home indefinitely. (abnormalreturns.com)
Mixed media
- David Byrne, "What is happening now is an opportunity to learn how to change our behavior." (reasonstobecheerful.world)
- You think about your house differently when you are in it 24/7. (newgeography.com)
- This crisis is going to affect how firms work. (blogs.cfainstitute.org)
- Why disrupted routines lead to boredom. (wired.com)
- These are the last people in the world to learn about the Covid-19 pandemic. (apnews.com)