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Quote of the Day
“People are in these bubbles...And if people aren’t leaving their homes, are not really getting out, it’s unlikely that they’re seeing the magnitude of the downside of this K-shaped recovery.”
(Peter Atwater)
Chart of the Day
September has historically been the worst month for the stock market.
Markets
- The spread between the best and worst sector this year is historically wide. (sentimentrader.com)
- If recent borrowing was going to cause inflation, why aren't yields higher? (theirrelevantinvestor.com)
Commodities
- Energy stocks have been falling for so long it's hard to remember the alternative. (thereformedbroker.com)
- Vault managers are shifting gold around to make sure they have insurance coverage. (msn.com)
Strategy
- The best company/stocks have likely gone through big drawdowns. (ofdollarsanddata.com)
- Why as an investor you can safely ignore the hype around stock splits. (finance.yahoo.com)
- Why a 60/40 portfolio has made sense, historically. (mrzepczynski.blogspot.com)
Companies
- Checking in on the vaccine candidates and the timeline for distribution. (morningstar.com)
- Amazon ($AMZN) is now primarily a platform for others. (ben-evans.com)
Retail
- What does it mean when a mall owner is teaming up to buy bankrupt retailers? (nytimes.com)
- It's harder to liquidate a bankrupt retailer in pandemic. (washingtonpost.com)
Finance
- The purveyors of traditional IPOs are not going to take the rise of SPACs lightly. (ft.com)
- Why finance-types have a hard time transitioning into sales roles. (institutionalinvestor.com)
Global
- Nearly 50,000 Kiwis have returned to New Zealand since the beginning of the year. (bbc.com)
- Why tech workers are moving north into Canada. (wired.com)
- Why Infosys is hiring thousands of employees in the US. (protocol.com)
- Japan insists the 2021 Olympic Games are going to happen. (npr.org)
Housing
- The K-shaped economy is putting pressure on rental properties. (npr.org)
- Mortgage refinancings soared in Q2. (wsj.com)
- As did mortgage delinquencies. (calculatedriskblog.com)
Pandemic economy
- For better or worse, Americans are settling into some new routines. (wsj.com)
- The constant reminders of our former lives reinforce the fact that we squandered our opportunity to bring the pandemic under control. (ritholtz.com)
- More young adults are living at home with their parents since the Great Depression. (pewresearch.org)
Earlier on Abnormal Returns
- Research links: long-term capital impairment. (abnormalreturns.com)
- Part one of my Q&A with Morgan Housel author of the new book "The Psychology of Money." (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: online ingenuity. (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)
