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Quote of the Day
"Predicting the future is hard because the past makes it seem easy."
(Ben Carlson)
Chart of the Day
Another week, another record low in mortgage rates. (chart via Freddie Mac)
Markets
- It's been awhile but 10 year Treasury yields are nearing their 200 day moving average. (sentimentrader.com)
- Calling markets a 'bubble' ignores the many regions that haven't done much at all. (allstarcharts.com)
- Millennial investors aren't going to invest as their parents did. (economist.com)
GM
- GM ($GM) has unveiled the Hummer EV as the ‘world’s first supertruck’ for $112,600 starting in 2021. (cnbc.com)
- GM's ($GM) Cruise is set to launch a self-driving-taxi service in San Francisco. (wired.com)
- GM's ($GM) 2021 Cadillac Escalade is giant. (theverge.com)
Quibi
Finance
- The municipal bond insurance business is experiencing a comeback. (wsj.com)
- JP Morgan Chase ($JPM) want to take on Square ($SQ) in merchant payments. (engadget.com)
Hedge funds
- Paul Singer's Elliott Management Corp. is moving its headquarters to Florida. (msn.com)
- The pandemic has only increased demand for private credit funds. (wsj.com)
- A Q&A with Gregory Zuckerman about his book " “The Man Who Solved the Market: How Jim Simons Launched a Quant Revolution." (media.thinknum.com)
ETFs
- ETFs may have helped create higher asset prices, but not for the reason you think. (theetfeducator.com)
- Why turnover in the ETF space isn't a bad thing. (etf.com)
Economy
- There is a potential downside to more fiscal support for the economy. (blogs.uoregon.edu)
- 20 years of home prices in every US city. (visualcapitalist.com)
Earlier on Abnormal Returns
- Longform links: perverse incentives. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: understanding enough. (abnormalreturns.com)
- When it comes to the stock market don’t underestimate the power of ‘learning by doing.’ (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
- Companies can't plan for viral content but they have to be prepared to take advantage of it when it does happen. (adweek.com)
- Travis Kalanick’s CloudKitchens is spending big on real estate. (wsj.com)
- What is the future of the office, post-pandemic? (vox.com)
- What it's like to run an art auction remotely. (nytimes.com)
