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Quote of the Day
"The bears forget, as the bulls sometimes forget, one very crucial thing about market participants – they don’t care about Good or Bad...So if there’s no Good or Bad, what is there? Well, the only two words that matter – Better or Worse."
(Josh Brown)
Markets
- The speed of the market's decline has been matched by its rebound. (capitalspectator.com)
- Consumers are feeling more positive about the future. (sentimentrader.com)
Strategy
- Diversification is there to help you avoid the pitfalls of bad luck. (awealthofcommonsense.com)
- Why some of the best finance bloggers don't have a background in finance. (ofdollarsanddata.com)
Companies
- Is Microsoft ($MSFT) Teams really a competitor to Slack ($WORK)? (theverge.com)
- Why don't more companies see their stock-based compensation expenses drop over time? (tanay.substack.com)
Meatpacking
- Meat companies are struggling to get their plants back online. (washingtonpost.com)
- The pandemic has highlighted the concentration the American meat business. (politico.com)
- Other countries have more automated meatpacking systems. Why does the US lag? (wired.com)
Finance
- Carlyle Group ($CG) agreed to buy a stake in Amex Travel. Then the pandemic struck. (ft.com)
- Distressed real estate buyers now seeing plenty of deals. (nytimes.com)
- How many cars will the new Hertz have to shed? (ftalphaville.ft.com)
Index funds
- Why the past decade was such a difficult one or active managers. (morningstar.com)
- Risk adjustments don't make active fund performance any better relative to index funds. (evidenceinvestor.com)
- A brief history of the index fund. (getrichslowly.org)
Houses
- "New Home Sales haven't fallen as much as expected during the COVID crisis." (calculatedriskblog.com)
- Falling home sales have not been accompanied by falling prices. (axios.com)
- Mortgage credit standards are tightening in the pandemic. (wsj.com)
- Why mortgage rates can't fall much further. (msn.com)
- High-end rental apartments have been relatively unscathed by the pandemic. (wsj.com)
Global
- How Mongolia got ahead of the coronavirus and kept people safe. (kottke.org)
- What stocks the the Saudi Public Investment Fund has been buying amid the pandemic. (ft.com)
- The City of London has faced traumatic changes before in its history. (institutionalinvestor.com)
Economy
Earlier on Abnormal Returns
- Research links: attracting capital. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: complex professionals. (abnormalreturns.com)
