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Quote of the Day
"Every time is different. You haven’t seen this movie before – no one has. Just because something hasn’t happened in the past does not mean it can’t or won’t happen in the future. 2020 has become the embodiment of that principle."
(Charlie Bilello)
Chart of the Day
No matter how you add them up, the costs of the Covid pandemic have been astronomical.
Markets
- The Dow has risen 100-fold in 92 years. (axios.com)
- Small cap stocks are set to have one of their best months in history. (awealthofcommonsense.com)
- Tesla ($TSLA) is bigger than all previous S&P 500 new entrants. (ft.com)
- Peru just sold a 100-year dollar bond at a yield of about 3.3%. (barrons.com)
Crypto
- Why is Bitcoin at 18,000? (marginalrevolution.com)
- Bitcoin is not getting the same media hype it did back in 2007. (visualcapitalist.com)
Funding
- Stripe is set to raise capital at an eye-popping level. (msn.com)
- Perspective matters a lot, when it comes to looking at Airbnb's S-1. (valueandopportunity.com)
- Jay Z is getting his own SPAC. (ft.com)
Companies
- All the social media companies are looking the same these days. (axios.com)
- How gig companies could give workers equity. (axios.com)
ETFs
- Why everyone seemingly wants to be in the 'innovation ETF' business. (citywireusa.com)
- What trends dominated ETF launches in 2020. (etf.com)
Economy
- Initial unemployment claims ticked higher for the second week in a row. (calculatedriskblog.com)
- Worse pandemic news is going to affect employment rates going forward. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Personal finance links: recognizing your deficiencies. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: an ersatz measure. (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)
