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Quote of the Day
"Life is a little easier if you expect a certain percentage of it to go wrong no matter how hard you try."
(Morgan Housel)
Markets
- Newbie traders and big money hedge fund types disagree on the market. (howardlindzon.com)
- The market will eventually move away from Big Tech, the problem is knowing when it will happen. (awealthofcommonsense.com)
Strategy
- Forecasting is not investing. (novelinvestor.com)
- High praise for Charles Schwab's book "Invested: Changing Forever the Way America Invests." (valueandopportunity.com)
Companies
- The pandemic is only going accelerate the push towards e-commerce. (wsj.com)
- Companies like Google ($GOOGL) are already pulling back on office space. (marker.medium.com)
- How meal kit companies are dealing with surging demand. (nytimes.com)
Media
- Forcing Google ($GOOGL) and Facebook ($FB) to pay for news doesn't help anybody in the long run. (stratechery.com)
- Facebook ($FB) is buying Giphy. (theverge.com)
- Hours spent streaming on Roku ($ROKU) have increased 50% year-over-year. (latimes.com)
- Hours watching livestreams has doubled over the past year. (theverge.com)
Finance
- Why PNC ($PNC) sold its stake in Blackrock ($BLK): fears over the economy. (ft.com)
- The IPO market is dominated by blank check companies. (wsj.com)
- A look at the surge in secondary offerings. (sentimentrader.com)
Funds
- Ben Johnson, "More than 27 years after the introduction of the first U.S. ETF, a standard set of rules and naming conventions is long overdue--but better late than never." (morningstar.com)
- Active managers are facing a major dilemma: how do you differentiate yourself from passive funds? (morningstar.com)
- A look at the ETF Deathwatch for April 2020. (investwithanedge.com)
Housing
- 8.8% of mortgages are in forbearance. (calculatedriskblog.com)
- J.P. Morgan Asset Management and American Homes 4 Rent expect to invest a total of $625 million of equity in single-family home projects in the U.S. (institutionalinvestor.com)
- How parents are coping with the return of adult children in quarantine. (nytimes.com)
- Would you buy a house sight unseen? (wsj.com)
Sports
- What will it take for sports fans to feel safe going to games again? (fivethirtyeight.com)
- How empty stands could change the psychology of games. (wired.com)
- On the comeback of the remote sports broadcast. (theringer.com)
Tourism
- Alaska this summer will be largely for Alaskans. (npr.org)
- Resort towns are facing a bleak Summer. (nytimes.com)
- What happens when customers ask tour operators for their deposits back? (ftalphaville.ft.com)
Covid-19
- Now that we know more about the coronavirus we can be more targeted in our responses, including universal mask wearing. (nytimes.com)
- Emily Oster, "Ultimately, the public needs to better understand the virus...People need to be less afraid but more careful." (theatlantic.com)
- Tennessee has been aggressively testing non-symptomatic individuals. (npr.org)
Global
- Slovenia and New Zealand have pretty much declared victory against the coronavirus. (slate.com)
- Japan has largely ended its state of emergency. (wsj.com)
- China's factories have reopened but consumer demand has not kept pace. (nytimes.com)
- India now has an oversupply of engineering school-trained programmers. (restofworld.org)
- Despite not locking down Sweden still saw a big fall off in economic activity. (nytimes.com)
Economy
- Retail sales showed a 16.4% drop from March to April. (calculatedriskblog.com)
- Why the wealthy are faring much better in the pandemic vs. the GFC. (ritholtz.com)
- What happens when now generous unemployment benefits run out? (fivethirtyeight.com)
Earlier on Abnormal Returns
- Podcast links: patience is a virtue. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: respect and followership. (abnormalreturns.com)
- How the coronavirus turned a pilot shortage into a surplus overnight. (abnormalreturns.com)
- There ARE second acts in American business. (abnormalreturns.com)
- Why you need to understand what constitutes an acceptable risk in a world full of uncertainty. (abnormalreturns.com)
