Quote of the Day
"Bottoms are easier to spot and harder to act on; It is easy to see a ‘false top,’ and much easier to act on it."
(Barry Ritholtz)
Chart of the Day

Long term Treasury yields are still below pre-pandemic levels but they are getting closer.
Markets
- While you weren't paying attention, long term Treasury yields have risen for the past six months. (theirrelevantinvestor.com)
- Josh Brown, "The risk-free rate is zero and, as a result, no one has any care or concern for current cash flow." (thereformedbroker.com)
Crypto
Companies
- How Wayfair ($W) won the pandemic. (ft.com)
- Joe Weisenthal and Tracy Alloway talk with Mark Astrachan about how Monster Beverage ($MNST) became such a monster stock. (bloomberg.com)
- Adidas has put the Reebok brand up for sale. (sportico.com)
Finance
- Citigroup ($C) lost its high profile case about a mistaken debt payment. (institutionalinvestor.com)
- A new online-trading startup, Kalshi Inc., will allow users to bet on discrete future outcomes. (wsj.com)
- Volume on the Hong Kong stock exchange are soaring. (ft.com)
- SeedFi wants to make a safer financial on ramp for consumers. (news.crunchbase.com)
Covid
- Four reasons why Covid case counts are falling including seasonality. (theatlantic.com)
- India has seen a rapid decline in case counts. (bbc.com)
Economy
- National homebuilder confidence in February is still at historic highs. (calculatedriskblog.com)
- January retail sales were strong. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Personal finance links: the goal of tax planning. (abnormalreturns.com)
- How are we to value equities in a post-Covid, economic boom? (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: adequate compensation for bearing uncertainty. (abnormalreturns.com)
- The concept of compounding has a branding problem. (abnormalreturns.com)
- Why 'good defaults' matter for consumers and why financial educators should have modest expectations. (abnormalreturns.com)
- Tired of hour-long podcasts? then check out 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. (newsletter.abnormalreturns.com)