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Quote of the Day
"More money is lost anticipating corrections than in them."
(Larry Swedroe)
Chart of the Day
“Tesla hit 2,000 for the first time, two months after hitting 1,000. A year ago it was trading at 225.”
Markets
- Just because the major indices are at new highs does not mean a lot of individual stocks are. (theirrelevantinvestor.com)
- Natural gas prices have shot up nearly 60% since late June. (wsj.com)
Strategy
- Cash should be a good hedge against inflation, if the Fed cooperates. (morningstar.com)
- Does growing cash at Berkshire Hathaway ($BRK.A) really mean Buffett is bearish? (brooklyninvestor.blogspot.com)
- Stock splits shouldn't matter, but they do. (ftalphaville.ft.com)
Companies
- Neither Oracle ($ORCL) or Microsoft ($MSFT) are logical buyers for TikTok. (venturebeat.com)
- How the Kodak ($KODK) deal came to be and how it all went wrong. (wsj.com)
- The revolt against Apple's ($AAPL) app store fees is growing. (fastcompany.com)
Robinhood
- The success of Robinhood is a blueprint for changes in other aspects of investing. (howardlindzon.com)
- How Robinhood has catalyzed change in the industry. (ft.com)
- Has Robinhood made investing too easy? (wsj.com)
Finance
- Ant Financial is on track for an October IPO. (fortune.com)
- How Airbnb's IPO may work out for the best. (markets.businessinsider.com)
- Former Speaker of the House Paul Ryan is throwing his hat into the SPAC ring. (wsj.com)
- Goldman Sachs ($GS) wants you to think differently about the firm including its font. (nytimes.com)
Funds
Vaccines
- J&J ($JNJ) is planning a huge Phase 3 trial for its Covid-19 vaccine. (cnbc.com)
- Pfizer ($PFE) and BioNTech have swapped vaccine candidates along the way. (statnews.com)
- Novavax's ($NVAX) Covid-19 vaccine has entered Phase 2 trials. (wsj.com)
Economy
Earlier on Abnormal Returns
- Podcast links: designing conversations. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: Olympic uncertainty. (abnormalreturns.com)
- Big market moves demand an explanation: the case of gold. (abnormalreturns.com)
- Every Friday I send out five links for advisers to help them think a little differently about the world. Sign up now! (newsletter.abnormalreturns.com)
