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Quote of the Day
"Apple is making it easier to buy an iPhone, but is still focused on getting its money right away. And, as long as it sticks with this approach, its Apple One bundle feels more like a money-grab, and less like a strategic driver of the business."
(Ben Thompson)
Chart of the Day
It’s hard to generate meaningful yield when real yields are decidedly negative.
New investors
- The demographic makeup of equity holders have become younger and more diverse in pandemic. (msn.com)
- If it holds over time, this is a development many have been waiting for. (thereformedbroker.com)
Strategy
- Contradictory stuff happens all the time in the stock market. (theirrelevantinvestor.com)
- Be careful what you benchmark yourself to. (awealthofcommonsense.com)
- Investment strategists keep piling on the 60/40 portfolio. (ft.com)
Companies
- How does Tesla's ($TSLA) valuation compare to some of the great companies at similar stages? (morningstar.com)
- IAC ($IAC) is growing its portfolio of online properties. (axios.com)
Exchanges
Private equity
- Thomas Bravo was early in the PE wave of investment in software businesses. (wsj.com)
- A wave of hotel foreclosures is coming, starting with Chicago's Palmer House. (wsj.com)
Hedge funds
- Some hedge funds are betting on an urban rental revival. (pionline.com)
- Hedge funds are back in demand, provided they focus on defense. (pionline.com)
Economy
- The pandemic recession is not hitting equally across the country. (msn.com)
- A failed stimulus is beginning to take its toll on small businesses. (axios.com)
Earlier on Abnormal Returns
- Research links: optimizing taxes. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: an act of commitment. (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)
Mixed media
- Why it's too early to forecast the post-pandemic fate of New York City. (integratinginvestor.com)
- Why population churn in New York City may not be a bad thing. (axios.com)
- How a post-pandemic New York City can thrive. (collaborativefund.com)
- New York City should build its way through all this. (avc.com)
- Worried about the furniture you leave behind leaving the city? Don't, because someone is going to grab it. (wsj.com)
