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Quote of the Day
"OK, so there is a lot of anecdotal evidence that there is a bubble going on. IPO's, SPACs, Robinhood trading, Bitcoin, just all sorts of stuff...But at the end of the day, for me, as a stock investor, I just care about valuations. Is the stock market in a "historic bubble"? I don't know, but it doesn't really look like it."
(The Brooklyn Investor)
Markets
- Some markets that are definitely not in a bubble, including financial stocks. (awealthofcommonsense.com)
- The reflation trade is helping commodities, including crude oil. (allstarcharts.com)
Retail
- Retail traders are demanding more of every kind of asset, and suppliers are still catching up. (howardlindzon.com)
- IG Group is buying retail-focused online brokerage Tastytrade. (marketwatch.com)
Crypto
Companies
- Fox essentially swapped a stake in Roku ($ROKU) for ownership in Tubi. (thestreamable.com)
- Neiman Marcus creditors are getting bailed out by the Mytheresa ($MYTE) IPO. (ft.com)
ARK Invest
- Does ARK Invest have a capacity problem? (barrons.com)
- It's hard not to marvel at ARK Invest's 2020. (institutionalinvestor.com)
ETFs
- Thematic ETFs are not launched at market bottoms. (msn.com)
- A third SPAC-focused ETF is coming to market. (wsj.com)
Funds
- ETFs saw inflows of $502 billion in 2020. Open-end mutual funds saw outflows of $289 billion. (morningstar.com)
- A quick survey of investment vehicles. (morningstar.com)
Real estate
- Housing starts are at their highest level since 2006. (housingwire.com)
- Americans are staying in their homes longer than ever. (wsj.com)
- Is it possible to convert underused commercial real estate into residential housing? (bloomberg.com)
- Repurposing malls is neither easy nor cheap. (wsj.com)
Economy
- The jobs situation is dependent on better Covid outcomes. (bonddad.blogspot.com)
- We won't know if we have a inflation problem until after the economy has normalized. (klementoninvesting.substack.com)
- The farm economy has become increasingly dependent on direct government support in pandemic. (econbrowser.com)
Earlier on Abnormal Returns
- Longform links: desire's greatest trick. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: your brain on money. (abnormalreturns.com)
- Tired of reading? Listen to your favorite blogger read recent posts including 'How to Make Millions in Bitcoin.' (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)
Mixed media
- Popular storytelling platform Wattpad was just sold. (techcrunch.com)
- Rising streaming services subscription prices are driving more users to ad-supported services like Tubi. (protocol.com)
- The Hipgnosis Song Fund is not slowing its pace of acquisitions. (ft.com)
- Forbes is pushing deeper into the paid newsletter business. (axios.com)
