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Quote of the Day
"I don’t think there is anybody who devotes a life to studying and working on the stock market who doesn’t have something of a gambling instinct."
(Burton Malkiel)
Small investors
- Why every market move these days is now attributed to retail traders. (city-journal.org)
- The boom in retail stock trading has been building for awhile. (qz.com)
- How much of the 'Robinhood effect' is getting amplified by institutional players? (axios.com)
- As stock buybacks fade, individual investors have stepped in. (finance.yahoo.com)
- Dave Portnoy plans to return to sports betting once things open up again. (cnbc.com)
Nasdaq
- The Nasdaq and S&P 500 have very different profiles these days. (wsj.com)
- The Nasdaq is at a new all-time high. (crossingwallstreet.com)
- The five big tech companies just crossed $6 trillion in market cap for the first time ever. (theirrelevantinvestor.com)
- It's hard to notice the spread between the $QQQs and everything else. (howardlindzon.com)
Apple
- The deed is done: Apple ($AAPL) is transitioning away from Intel ($INTC) chips. (nytimes.com)
- What OS changes are coming for your favorite Apple ($AAPL) devices. (wsj.com)
- Apple ($AAPL) wants to make it harder for trackers to operate in iOS. (vox.com)
- Everything you need to know from Apple's ($AAPL) virtual WWDC event. (buzzfeednews.com)
Companies
- Big Tech is, in particular, not happy with enhanced restrictions on skilled immigration. (vox.com)
- Google ($GOOGL) could actually see a decline in ad revenue in 2020. (wsj.com)
- A growing number of companies are boycotting Facebook ($FB) and Instagram ads. (cnbc.com)
- Zoom ($ZM) solved a big problem. What comex next? (ben-evans.com)
Real estate
- Mall operators really don't more of their tenants to go under. (wsj.com)
- Looking for distressed securities? Think commercial real estate... (wsj.com)
- Who knew toll road investments would be vulnerable in a pandemic? (institutionalinvestor.com)
Finance
- Softbank is planning to sell a big chunk of the new T-Mobile ($TMUS). (bloomberg.com)
- Small merchants are pushing back against Square's ($SQ) holdback provisions. (nytimes.com)
- Bill Ackman is planning to launch a SPAC to bag a 'Mature Unicorn.' (cnbc.com)
Funds
- Credit Suisse could not have handled the VelocityShares Daily 2x VIX Short Term ETN ($TVIX) any worse. (etftrends.com)
- Fidelity Investments is shuttering two more institutional money market funds as rates look to stay lower, longer. (riabiz.com)
- Why the Federal Reserve pays commissions on its ETF trades. (investmentnews.com)
- Fund managers have been trying to short Wirecard for years. (thereformedbroker.com)
Cities and suburbs
- What lessons New York City can apply from 9/11 to the post-pandemic world. (wsj.com)
- San Francisco has plenty of problems, but not enough for the center of gravity for startups to shift meaningfully. (ft.com)
- New York City looks (and feels) very different these days. (politico.com)
- The pandemic has given American suburbs a second wind. (theatlantic.com)
- Is the urban-rural shift amid the pandemic going to stick? (wsj.com)
- Are people really leaving cities? It depends... (bloomberg.com)
Global
- Why 2020 could represent a turning point in manufacturing dependence on China. (economist.com)
- The world is looking on in horror at the US response to the coronavirus. (washingtonpost.com)
Economy
Earlier on Abnormal Returns
- Research links: extraordinary claims. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: workplace financial wellness. (abnormalreturns.com)
- Sign up for our weekly adviser-focused e-mail that goes on Fridays. Five links to make you think headed into the weekend. (newsletter.abnormalreturns.com)
Mixed media
- This situation with the pseudonymous Slate Star Codex blog and the New York Times is bizarre. (slatestarcodex.com)
- 21 ways that information is packaged to make it more enticing including 'false scarcity.' (humbledollar.com)
- Don't let numbers obscure the real issues involved. (blairbellecurve.com)
- What distinguishes noise from voice? (seths.blog)
- On the power of an e-mail list. (avc.com)
