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Quote of the Day
"There’s no question the United States missed the opportunity to get ahead of the novel coronavirus. But the window for making important decisions hasn’t closed."
(Bill Gates)
Markets
- How major asset classes performed (poorly) in March 2020. (capitalspectator.com)
- March 2020 was officially the craziest month in stock market history. (ofdollarsanddata.com)
Strategy
- Prior bear markets can only teach us so much today. (blog.validea.com)
- Did coronavirus kill off the secular bull market? (finance.yahoo.com)
- Howard Marks on where things stand. (oaktreecapital.com)
- Information flow and idea flow are two different things. (traderfeed.blogspot.com)
Amazon
- Amazon ($AMZN) has become central to the economy but it is not a charity. (ft.com)
- The many ways in which coronavirus is disrupting Amazon's ($AMZN) business model. (bigthink.com)
Companies
- More companies now fit Warren Buffett's acquisition criteria. (finance.yahoo.com)
- The Zoom ($ZM) backlash is growing. (wired.com)
- PayPal ($PYPL) is pledging no layoffs. (cnbc.com)
- The Sprint ($S) acquisition of T-Mobile is now final. (arstechnica.com)
Finance
- Companies are drawing down lines of credit that weren't meant to be drawn. (nytimes.com)
- Activist investing will resume at some point. (institutionalinvestor.com)
Private equity
- How much will private equity firms mark down their portfolios? (wsj.com)
- Private equity could be barred from seeking out government funds unless a rule is changed. (ft.com)
Supply chains
- The global trade in PPE has gotten complicated quickly. (nytimes.com)
- The shipping and logistics industry is experiencing all manner of stresses right now. (nytimes.com)
- Even PE-backed firms are pivoting production to help in the coronavirus fight. (institutionalinvestor.com)
- It's not just additional ventilators that will be needed. (barrons.com)
- This Canadian firm is shifting from making long underwear to hospital gowns. (bnnbloomberg.ca)
Data
- Why 'excess deaths' may be a better measure of the coronavirus toll. (bloomberg.com)
- Private labs are backlogged with Covid-19 tests. (theatlantic.com)
Behavior
- Will Americans embrace a coronavirus vaccine when it becomes available? (politico.com)
- Why some people won't shelter in place - 'solution aversion.' (blogs.scientificamerican.com)
Cities
- Is the coronavirus going to change where Americans want to live in the future? (washingtonpost.com)
- Cities are going to undergo some fundamental changes post-coronavirus. (axios.com)
- The arts are a big part of city life. For now, they are shut down. (washingtonpost.com)
Global
- There is some glimmers of hope that Italy's curve is finally starting to bend. (wsj.com)
- Wuhan is not back to normal yet. (washingtonpost.com)
- The coronavirus shock is unique in its global impact. (nytimes.com)
Economy
- How does the current downturn compare to the Great Depression? (awealthofcommonsense.com)
- The economy is going look different in a lot of ways post-coronavirus. (thereformedbroker.com)
Work
- The coronavirus has created big jobs mismatches in the US economy. (bloomberg.com)
- Many restaurant workers don't want to switch industries just yet. (eater.com)
- How to start a new career. (heleo.com)
Earlier on Abnormal Returns
- Personal finance links: effective interventions. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: probabilistic mechanisms. (abnormalreturns.com)
