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Quote of the Day
"Uncertainty is uncomfortable and unappealing, but it is also the reality of financial markets."
(Joe Wiggins)
Chart of the Day
The equal-weighted S&P 500 is still 7% below its all-time high.
Markets
- Apple ($AAPL) and Tesla ($TSLA) are bring the stock split back. (thereformedbroker.com)
- How have the stocks most-favored by retail investors fared? (finance.yahoo.com)
Gold
- It doesn't take a big shift from other assets to move the price of gold. (bnnbloomberg.ca)
- The case against owning gold, ever. (etf.com)
Strategy
- Vishal Khandelwal, "Actual value does not gets created in the world of stock market, but in the world of business." (safalniveshak.com)
- Peter Lynch, "Stocks aren’t lottery tickets. Behind every stock is a company. If the company does well, over time the stocks do well." (blog.validea.com)
Companies
- The US is buying 100 million doses of Moderna's ($MRNA) coronavirus vaccine. (cnn.com)
- In many companies, CMO now means Chief Medical Officer, not Chief Marketing Officer. (wsj.com)
IPOs
- SPACs make up 20% of IPO proceeds this year. (ft.com)
- Despite the pandemic Airbnb still plans to go public in 2020. (news.crunchbase.com)
Funds
- The pandemic is pushing more organizations to go the OCIO route. (institutionalinvestor.com)
- YieldStreet has seen a series of investments go bad. (wsj.com)
- The mutual fund-to-ETF conversions are only going to increase. (investmentnews.com)
Global
Economy
- Retail sales are already seeing the effect of the end of enhanced unemployment benefits. (axios.com)
- The fiscal drag is real. (ritholtz.com)
- Small businesses don't send out a press release when they close. (msn.com)
Earlier on Abnormal Returns
- Personal finance links: a test of character. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: completely unpredictable. (abnormalreturns.com)
- Finding better ways to care for your clients and yourself: why you should sign up for our new weekly adviser-focused e-mail. (abnormalreturns.com)
