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Quote of the Day
"The winners from this episode, undoubtedly, will try to justify their luck after the fact. After all, it’s probably easier to sleep at night telling yourself you got rich off a savvy thesis than an all-in bet on zero where the house, for once, didn’t win."
(Jamie Powell)
Short sellers
- The best stocks in 2020 are those that have been the most-shorted. (ft.com)
- Short-sellers are used to push back but things are out of control. (wsj.com)
- There's no legitimate reason to personally threaten short sellers. (institutionalinvestor.com)
- Professional investors can no longer ignore the power of the crowd. (economist.com)
r/WallStreetBets
- How does the GameStop ($GME) saga end? (awealthofcommonsense.com)
- Josh Brown, "Wall St Bets is the cloud-based version of the hedge fund idea dinner." (thereformedbroker.com)
- The market will eventually sort this whole thing out. (monevator.com)
Strategy
- Here's hoping everyone learns some real lessons from the current craziness. (tonyisola.com)
- Why every investor needs to find their own way forward. (behavioralvalueinvestor.com)
- 30 laws of investment analysis including 'The odds are greatly against you being immensely smarter than everyone else in the field.' (snippet.finance)
Restaurants
- Restaurants now need to be on Instagram. (sf.eater.com)
- Ghost kitchens are using empty hotel kitchens to fulfill orders. (nytimes.com)
- The pandemic should reinforce the idea that outdoor dining is great. (theguardian.com)
Companies
- 2020 was Tesla's ($TSLA) first profitable year. (nytimes.com)
- The Apple ($AAPL) iPad had its best quarter since 2015. (sixcolors.com)
- Earning show that Facebook ($FB) usage soared in pandemic. (wsj.com)
Finance
- One reasons SPACs have taken off is fewer restrictions on company projections. (bloomberg.com)
- AMC ($AMC) convertible bond holders have been the beneficiaries of the r/WallStreetBets crowd. (ft.com)
- JP Morgan Chase ($JPM) is set to launch a consumer banking business in the UK. (nytimes.com)
- Softbank execs have seen the value of the shares they purchased using loans soar in value. (ft.com)
Global
- China is restricting migration during the Lunar New Year. (nytimes.com)
- Consumers across the globe are saving more in the face of Covid - the case of India. (wsj.com)
Economy
- If you squint, initial jobless claims have been trending higher. (bonddad.blogspot.com)
- 2020 was the worst year for the U.S. economy since 1946. (axios.com)
- The Fed has bigger things to worry about than GameStop ($GME). (blogs.uoregon.edu)
Earlier on Abnormal Returns
- Longform links: evaporated friendships. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: accepting your flaws. (abnormalreturns.com)
- When the hype fades: the case of thematic ETFs. (abnormalreturns.com)
- Tired of reading? Listen to your favorite bloggers read some their recent posts on 'The Goldmine.' (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)
