Quote of the Day
"Stocks go up until they don’t and only once in awhile is there a reason that can be spotted, in real time, to explain why. And vice versa."
(Josh Brown)
Chart of the Day

We’re still a long ways off from a ‘risk off’ environment. (via @sentimentrader)
Markets
- It's getting hard to ignore the rally in commodity prices. (theirrelevantinvestor.com)
- Stocks don't have to fall during a period of rising rates: a case study. (disciplinedinvesting.blogspot.com)
Strategy
- Why focusing on individual stocks can make you lose the thread when it comes to investing. (awealthofcommonsense.com)
- The long run returns on equities is, at best, a guess. (evidenceinvestor.com)
- It's hard to argue with rebalancing as a coping mechanism. (humbledollar.com)
SPACs
- Some signs that the SPAC boom is fizzling out. (bloomberg.com)
- All the signs are there that the SPAC boom has run its course, for now. (bloomberg.com)
Venture capital
- How Salesforce ($CRM) became one of the best corporate VCs. (cnbc.com)
- Tim O'Reilly, "Venture capital will be key to commercializing the technologies needed to address the climate crisis." (wired.com)
- The story behind fast-growing startup MainStreet. (notboring.co)
- Why startups love working with Snoop Dogg. (news.crunchbase.com)
Fund management
- A permanent reduction in short selling is going reverberate the fund ecosystem. (bloomberg.com)
- If you can invest in farmland, why not ranches? (riaintel.com)
Work
- Fred Wilson, "Employers will need to figure out how to constrain work hours for their employees because it turns out we can’t do that for ourselves. Office hours (9 to 5) did that for us. What will be the new office hours? We will need to figure that out." (avc.com)
- There's little doubt women's careers have been disproportionately affected by the pandemic. (ft.com)
- Some companies are falling out of love with workplace chat systems like Slack ($WORK). (wsj.com)
- Younger workers need the office more than you think. (ft.com)
- What will we have lost if the office is no longer a thing? (rationalwalk.com)
Economy
- Businesses dependent on summer business are flying blind this year. (wsj.com)
- Coming out pandemic, 'skills mismatches' are preventing companies from hiring the workers they need. (citizen-times.com)
Earlier on Abnormal Returns
- Adviser links: a bounty of choices. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone was reading last week on the site. (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)