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Quote of the Day
"The next time you get the urge to attribute political or market outcomes to your (least) favorite politician I’d recommend stepping back and considering the fact that the world is a lot more complex than our political cheerleaders might want us to believe.
(Cullen Roche)
Markets
- Does the stock market care about real world events any more? (awealthofcommonsense.com)
- Political narratives are easily built to explain stock market moves. (mrzepczynski.blogspot.com)
Strategy
- On the power of being able to say 'I don't know.' (wsj.com)
- Howard Lindzon, "Eventually the great companies and stocks DO get discovered. That does not mean they will stop being great stocks. Some may get better." (howardlindzon.com)
- Jeff Miller, "You can trade with Mr. Market, but you cannot really learn from him!" (dashofinsight.com)
Chip making
- Intel ($INTC) is falling behind in its ability to manufacture its own chips. (wsj.com)
- The US is losing global market share in semiconductor manufacturing. (wsj.com)
Pandemic
- A look at the shape and pace of the third coronavirus wave. (compoundadvisors.com)
- At what point would rising coronavirus cases derail the U.S. economy? (capitalspectator.com)
- Some cities and states are reimposing restrictions in the face of soaring case counts. (wsj.com)
- These restrictions will put a crimp in employment. (econbrowser.com)
Global
- The UK stock market is as cheap as it has been relative to the rest of the world. (ft.com)
- Tech stocks are leading markets around the world. (allstarcharts.com)
Polling
- Was the idea of political polling broken from the start? (politico.com)
- Can AI help fix the problems with polling? (wsj.com)
Policy
- How we vote in America is a mess. (nytimes.com)
- Corporate taxes are lower, as a percentage of GDP, then they've ever been. (axios.com)
- Accounts of PPP fraud are piling up at government agencies. (wsj.com)
- When it comes to government, competence matters. (theincidentaleconomist.com)
Economy
- Employment growth is decelerating. (econbrowser.com)
- Paying warehouse workers more results in lower turnover and costs. (marginalrevolution.com)
- A succinct summary of the week's big economic events. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Coronavirus links: the shape of the curve. (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)
