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Quote of the Day
"Using proxies can be helpful or not. It all depends how accurately they map to what matters."
(Mike Dariano)
Chart of the Day
We have seen an extraordinary shift in Americans’ attitudes over the past two weeks.
Markets
- Why hasn't the surge in Covid-19 cases spooked the market yet? (thereformedbroker.com)
- The ingredients behind MAMU or the 'mother of all melt-ups.' (blog.yardeni.com)
- If we really are in the 'lower, forever' scenario for interest rates how does that change things? (thereformedbroker.com)
Commodities
- Why US vaults have filled with gold over the past two months. (wsj.com)
- Invest in oil and gas production may never bounce back. (economist.com)
Strategy
- Some things about the stock market that will not change including "Cycles tend to feel like they will never end." (awealthofcommonsense.com)
- There is always a reason, good/bad/indifferent, to sell. (theirrelevantinvestor.com)
- There is a difference between having opinions on the stock market and acting on them. (medium.com)
Business
- Many call center operators found that WFH does not work for their business. (bloomberg.com)
- Business owners nearing retirement have been uniquely affected by the pandemic. (wsj.com)
- The business of party planning disappeared. How can/will it comeback? (nytimes.com)
Black-owned business
- Lockdowns have disproportionately hit black-owned small businesses. (vox.com)
- The racial venture capital gap is gaping, but some steps are being taken. (washingtonpost.com)
Companies
- Analysts think Apple ($AAPL) is unusually overvalued. (sentimentrader.com)
- Facebook ($FB) is formalizing its startup investing. (axios.com)
- Tesla ($TSLA) is poised to top Toyota Motor ($TM) as the world's most valuable auto maker. (bloomberg.com)
- What it's now like inside an Amazon ($AMZN) warehouse. (nytimes.com)
Finance
- The 'partner bank' business is pretty profitable. (a16z.com)
- Small businesses on Amazon ($AMZN) will soon get a partner pitch from Goldman Sachs ($GS). (cnbc.com)
Funds
- There is only US ETF that focuses on companies with strong racial and ethnic diversity policies: Impact Shares NAACP Minority Empowerment ETF ($NACP). (morningstar.com)
- News flash: active managers still underperforming. (institutionalinvestor.com)
Covid-19
- US policies have failed to tamp down on the coronavirus and we are seeing surges in a dozen states. (ritholtz.com)
- The US has not bent the curve downward in anticipation of a seasonal second wave. (marketwatch.com)
- Why the situation in Arizona is worrisome. (vox.com)
- The US is now facing a 'patchwork pandemic' limited by its least effective states. (ft.com)
- States are building out testing capacity absent any guidance from the federal government. (washingtonpost.com)
Global
- Canadians have been more diligent in their approach to the coronavirus. (bnnbloomberg.ca)
- Spain is focusing on 'test and trace' to reopen. (ft.com)
Economy
- Continuing unemployment claims still nearly 21 million Americans. (calculatedriskblog.com)
- The Fed has no plans to raise rates for awhile. (wsj.com)
- The lack of diversity in the economics profession is stark. (nytimes.com)
Earlier on Abnormal Returns
- Startup links: end of the road. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: a lack of experience. (abnormalreturns.com)
- Red light, yellow light, green: three take on the retail stock trading boom. (abnormalreturns.com)
