Are you already signed up for our daily e-mail newsletter? That’s awesome, but did you also know that we publish an adviser-focused e-mail every Friday? Now you do.
Quote of the Day
"How you handle yourself in those situations says a lot more about your character than how you handle winning because winning is much easier to handle than losing."
(Ben Carlson)
Chart of the Day

Elon Musk is now the world’s richest person as Tesla’s market cap nears that of Facebook. (chart via @ycharts)
Rates
- 30-year mortgage rates are at new record lows. (housingwire.com)
- Investors continue to rotate out of bonds into riskier assets. (allstarcharts.com)
- More signs of caution amongst bond traders. (sentimentrader.com)
Crypto
- Bitcoin doesn't really have a 'market cap.' (ft.com)
- Apparently, Bitcoin is now a hedge against inflation. (economist.com)
Companies
- Amazon ($AMZN) bought Wondery, in part, as an ad play. (bloomberg.com)
- The growth in the Apple ($AAPL) App economy accelerated in 2020. (asymco.com)
Streaming
- Discovery+ is now live with a different spin on streaming. (nytimes.com)
- Netflix ($NFLX) and Amazon ($AMZN) Prime are spending big on content for the Indian market. (theguardian.com)
- Apple ($AAPL) is missing the moment by not putting more effort into its Apple TV box. (mgs.medium.com)
- Struum wants to help you unearth content on the niche streaming services. (wsj.com)
IPOs
- Roblox plans to go public via a direct listing. (wsj.com)
- SoFi is coming public via a merger with a Chamath Palihapitiya SPAC. (cnbc.com)
Finance
- Why the Fed struggled to get takers for its Main Street Lending Program. (wsj.com)
- Every online broker is trying to attract more female clients. (wsj.com)
Funds
- Over $500 billion flowed into U.S. ETFs in 2020. (barrons.com)
- Why thematic funds see so much attrition. (morningstar.com)
Global
- Canada's housing market is booming. (huffingtonpost.ca)
- A series of challenges, including Brexit, threaten London's role in the world. (ft.com)
- China's own regulators want to delist more shaky companies. (economist.com)
Economy
- "Both initial and continued claims remain at or above their worst levels from the Great Recession." (bonddad.blogspot.com)
- At some point in 2021 we will get a clearer take on housing demand. (housingwire.com)
- Central banks can't target inflation and financial stability simultaneously. (bloomberg.com)
Earlier on Abnormal Returns
- Longform links: jump starting lives. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: real wealth. (abnormalreturns.com)
- January ESG links: forecast uncertainty. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter just for advisers. (newsletter.abnormalreturns.com)