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Quote of the Day
"Your real benchmark isn’t beating the stock market. Instead, it’s how you’re performing relative to the goals that you’ve set."
(Robin Powell)
Markets
- Mom and pop investors, i.e. AAII, have finally gotten bullish. (sentimentrader.com)
- High yield muni defaults are on the rise. (wsj.com)
Companies
- Disney+ ($DIS) subscriber numbers are way ahead of schedule. (axios.com)
- People are betting their brains out in pandemic. Just ask DraftKings ($DKNG). (sportico.com)
- So much for the TikTok shutdown. (wsj.com)
- Instagram is the new QVC 2.0. (om.co)
Finance
- Goldman Sachs ($GS) is naming fewer new partners over time. (ft.com)
- Payment processor startup Klarna wants to make the jump from Europe to the U.S. (economist.com)
- Former Kodak ($KODK) execs somehow were able to exercise options they weren't entitled to. (wsj.com)
Listings
- DoorDash has filed to go public. (cnbc.com)
- Why being a SPAC sponsor is a 'good gig' if you can get it. (ft.com)
- The SPAC boom is happening despite a historically poor track record. (wsj.com)
- Airbnb may also list its shares on the LTSE. (bloomberg.com)
Funds
- Are ETF fees as low as they can go? (ft.com)
- Some details on the drama surrrounding ARK Invest ownership. (citywireusa.com)
Global
Pandemic
- The glass is simultaneously half full and half empty when it comes to the pandemic. (awealthofcommonsense.com)
- Yesterday saw record positive coronavirus tests. (theverge.com)
- Hospitals in the Upper Midwest are at or near capacity. (washingtonpost.com)
- The third wave is putting huge stress on health care workers. (theatlantic.com)
- Over 130 Secret Service agents have either tested positive for the coronavirus or are in quarantine. (washingtonpost.com)
Housing
- The home price boom in the U.S. is pretty much across the board. (wsj.com)
- At what point do housing prices starting to pinch? (msn.com)
Earlier on Abnormal Returns
- Podcast links: practical measures of risk. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: surrendering to the platform. (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)
