Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here!
Quote of the Day
"Rather than regarding overvalued assets as a bubble, we might consider them a fire. The more it expands and the hotter it gets, the more havoc it can wreak."
(Jason Zweig)
Markets
- Contrary to expectations, dividends have not take a huge hit in pandemic. (nytimes.com)
- Gold ETFs are seeing an outflow of assets. (sentimentrader.com)
Strategy
- There's no business so great that you can't overpay for it. (albertbridgecapital.com)
- Larry Swedroe, "Individual investors should never make the mistake of confusing information with knowledge." (evidenceinvestor.com)
- The research is conclusive: the vast majority of day traders lose money. (cnbc.com)
Housing
- The housing market is hot, but not in a bubble. (housingwire.com)
- Lumber prices are once again on the rise. (wsj.com)
- Mortgage refis are set to drop, big time, in 2021. (thebasispoint.com)
- Fence contractors have plenty of work and not enough lumber. (wsj.com)
- Half of young adults in the U.S. now live with their parents. (visualcapitalist.com)
GM
- GM ($GM) is getting aggressive. (thereformedbroker.com)
- GM ($GM) is, if anything, accelerating its plan to go EV. (ft.com)
- GM's ($GM) joint ventures in China are successfully targeting the low end of the EV market. (wsj.com)
- GM ($GM) wants to sell you car insurance based on your driving habits. (wsj.com)
Finance
- Europe's big banks didn't create the new wave of payment systems, private equity did. (ft.com)
- Nasdaq ($NDAQ) is buying anti-fraud company Verafin. (wsj.com)
- Hedge funds are a scale business. (institutionalinvestor.com)
IPOs
- Gaming company, Roblox, has filed for an IPO. (cnbc.com)
- EV startup, Arrival, is coming public via a merger with a SPAC. (barrons.com)
- Mobile e-commerce startup Wish has filed to go public. (news.crunchbase.com)
Funds
- How the addition of Tesla ($TSLA) will change the makeup of the S&P 500. (morningstar.com)
- When buying an ESG fund always look under the hood first. (humbledollar.com)
Global
- Case counts are on the rise in Canada. (bnnbloomberg.ca)
- It's not just U.S. hospitals that are struggling with the surge in cases. (wsj.com)
Pandemic
- It's time to reassess: if things go according to plan we are about halfway through the pandemic. (ritholtz.com)
- Pfizer ($PFE)-BioNTech ($BTNX) have filed for an EUA with the FDA. (statnews.com)
- Case counts and hospitalizations are at record highs in the U.S. (calculatedriskblog.com)
- Even the best-prepared hospitals are worried about what comes next. (theatlantic.com)
- Two rural states: two very different pandemic outcomes. (npr.org)
- Rural hospitals are particularly at-risk of bad outcomes as cases surge. (theconversation.com)
Earlier on Abnormal Returns
- Podcast links: the art of learning. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: an absurd system. (abnormalreturns.com)
- Get used to the term 'digital health passport' as the coronavirus vaccine rolls out nationwide. (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
- The new metric of success these days is how few employees your company has. (summation.net)
- The nature of early stage startup work lends itself to in-person teams. (hunterwalk.com)
- What happens to workplace perks when offices are closed? (bbc.com)
- WFH makes providing employees with the right technology in the right place more complicated. (arstechnica.com)
