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Quote of the Day
"Everybody wants to know 'have stocks bottomed.' This is the wrong question for a long-term investor. My main concern is that U.S. stocks could go nowhere for a decade."
(Adam Collins)
Energy
- The relative collapse of the energy sector is stunning in retrospect. (awealthofcommonsense.com)
- Is there a broader message in the fall of oil prices? (ft.com)
- Why oil prices go to where they are today. (visualcapitalist.com)
Value investing
- How much of Berkshire Hathaway’s $125 billion of cash is truly deployable today? (rationalwalk.com)
- How the coronavirus pandemic uniquely affects value investors. (blog.validea.com)
- Investors with an "owner's mindset" are focused on survival and substance. (safalniveshak.com)
- Notes from Seth Klarman's classic book "Margin of Safety." (novelinvestor.com)
Financial blogosphere
- 14 rules to keep in mind when writing your first blog post. (realreturns.blog)
- A list of the best US and UK investment blogs. (occaminvesting.co.uk)
- We all pay for investment journalism in one way or another. (evidenceinvestor.com)
Companies
- Facebook ($FB) is pushing deeper into India with the purchase of a stake in Jio. (theverge.com)
- Pinduoduo ($PDD) is now the third largest e-commerce player in China. (cnbc.com)
- NBCUniversal sold half of its stake in Peloton ($PTON). (nypost.com)
- The coronvirus could kill off the traditional department store once and for all. (nytimes.com)
Netflix
- Netflix ($NFLX) is the new center of gravity in American life. (cnbc.com)
- Everyone you know signed up for Netflix ($NFLX). (nytimes.com)
- Netflix ($NFLX) snagged some 16 million new subscribers last quarter. (wsj.com)
- Is Netflix ($NFLX) recession proof? (media.thinknum.com)
Finance
- What's the alternative to share buybacks? Letting cash pile up on the balance sheet? (theirrelevantinvestor.com)
- Brooke Masters, "The prospects for so many businesses remain so profoundly murky that it is all but impossible to tell whether they are fairly priced." (ft.com)
- Institutional investors don't want their hedge funds to take down PPP loans. (pionline.com)
- Bond ETFs served a vital role in the markets last month. (ft.com)
USO
- Commodity ETFs are NOT necessarily commodity exposure. (thereformedbroker.com)
- Simon Lack, "USO is a dumb way to bet on crude prices." (sl-advisors.com)
- We should protect individuals from themselves. (bloomberg.com)
- Many individuals trading USO likely didn't know what they were doing. (ft.com)
Business
- Companies are now coming to terms with how to do business in the age of social distancing. (ft.com)
- Restaurant owners are trying to plan for what the post-pandemic world might look like. (eater.com)
- How this P&G ($PG) factory keeps pumping out Charmin. (npr.org)
- Some Boeing ($BA) workers are back at work. (washingtonpost.com)
- Retailers are struggling to get face masks for workers. (wsj.com)
Covid-19
- The CDC Director warns a second coronavirus wave could be worse than the first, think coincident with the seasonal flu. (washingtonpost.com)
- Overall death rates, compared to prior years, is a better measure of what is going on - especially across jurisdictions. (wsj.com)
- The first US coronavirus fatality came much earlier than previously thought. (bloomberg.com)
- Health officials are rightfully concerned that the coalition of Southeastern states are opening up their economies too soon and without enough consideration. (politico.com)
- The US is going to have to staff up its public health agencies to track coronavirus infctions. (ft.com)
- We may need to pay healthy people to get Covid-19 tests. (nytimes.com)
Global
- Singapore had Covid-19 under control. Then it didn't. (wsj.com)
- Beijing has shut down gyms and fitness centers. (cnbc.com)
- How Lebanon has largely avoided a Covid-19 crisis. (washingtonpost.com)
- We may need to look to some emerging markets for tips on how to do contact tracing. (npr.org)
Economy
Earlier on Abnormal Returns
- Personal finance links: dollar vintages. (abnormalreturns.com)
- March 11th is going go down as a crucial day in the story of the coronavirus. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: realized volatility. (abnormalreturns.com)
Mixed media
- M.G. Sieger, "That’s because the next platform wasn’t a product at all. It was time and place." (500ish.com)
- Why using Zoom ($ZM) can be exhausting. (axios.com)
- Meet the guy behind the viral Steak-umm Twitter account. (washingtonpost.com)
- A Wisconsin creamery is providing free milk to community members struggling during the coronavirus pandemic. (msn.com)
