Quote of the Day
"Most of us won’t generate predictable cash flows from owning our house, cars, art, Bitcoin and other non-cash flow generating assets. So stocks and bonds play a crucial role in asset allocation specifically because they provide those predictable cash flow streams."
(Cullen Roche)
Markets
- A handful of secular trends are seemingly reversing all at the same time. (compoundadvisors.com)
- It's easier to shout 'bubble' than actually profit from it. (theirrelevantinvestor.com)
- Value stocks are higher quality these days. (blog.validea.com)
Crypto
Big Tech
- How the business of Amazon Marketplace brand aggregators work. (nytimes.com)
- Apple ($AAPL) doesn't get every new product right - the case of the HomePod. (500ish.com)
- Wikipedia wants Big Tech to step up its support. (wired.com)
Finance
- Stripe's valuation assumes 'that the digitisation of commerce and payments still has some way to run.' (ft.com)
- Why people in finance love to complain about their bonuses. (efinancialcareers.com)
- How Lending Club ($LC) has transformed its business model including buying a bank. (ft.com)
Streaming
- Netflix ($NFLX) is beginning to crack down on password sharing. (nytimes.com)
- HBO Max is getting an ad-supported tier. (arstechnica.com)
- Why Disney+ had a headstart in India, think cricket. (axios.com)
- Is Apple ($AAPL) TV+ finally for real? (theringer.com)
Inflation
- Some thoughts on the macro economy including "Inflation has struggled to get above 2% for twenty years. It’s not the end of the world if we see 3-4% inflation for a couple of years." (blairbellecurve.com)
- Have we run out of positive economic surprises? (compoundadvisors.com)
- Investor fears about inflation are at this point still theoretical. (bloomberg.com)
- There is still a lot of labor market slack. (tonyisola.com)
Housing
- Higher across the board prices are working against home builders. (wsj.com)
- Millennials made up 37% of home buyers in 2020. (mortgagenewsdaily.com)
- How housing is, in two ways, a hedge against inflation. (awealthofcommonsense.com)
Earlier on Abnormal Returns
- Personal finance links: dumb luck. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: currency chaos. (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)
