Quote of the Day
"One year ago today, the S&P 500 reached its closing low. The index shed one-third of its value in just 22 trading days."
(Eddy Elfenbein)
Chart of the Day

The market’s rally off its early pandemic lows are extraordinary.
Strategy
- What you need to know about minimum volatility strategies. (theirrelevantinvestor.com)
- The stock market cares more about inflation than interest rates. (awealthofcommonsense.com)
- Nine things to keep in mind before buying gold including 'Gold is taxed unfavorably when held in taxable accounts.' (humbledollar.com)
- Why stock picking is so hard. (theirrelevantinvestor.com)
Crypto
- Putting Bitcoin energy use into some perspective. (bnnbloomberg.ca)
- Thinking about 'Bitcoin as a battery.' (nickgrossman.xyz)
Finance
- Big banks, like JP Morgan Chase ($JPM) could soon start turning away deposits. (bloomberg.com)
- Citigroup's ($C) new CEO Jane Fraser wants to re-work the company's work culture. (msn.com)
Funds
- A short history of the Morningstar ($MORN) star ratings for funds. (morningstar.com)
- A Q&A with Jamie Wise, CEO of Buzz Holdings, which licenses its index to the VanEck Vectors Social Sentiment ETF ($BUZZ). (etf.com)
Startups
- goPuff is a hybrid of Amazon and DoorDash. (techcrunch.com)
- Here is the 2021 edition of the Marketplace 100 which ranks the largest consumer-facing marketplace startups and private companies (a16z.com)
- Tower Records once had a great brand, but what will it like like upon re-launch? (slate.com)
Semiconductors
- Some high-end Nvidia and AMD GPUs are going for 3x their list price. (theverge.com)
- You can blame some of the chip shortages on Bitcoin miners. (ft.com)
- Another reason, a fire at a Japanese chip plant, why the semiconductor shortage isn't easy any time soon. (axios.com)
- Volvo is the latest auto maker to warn about output shortfalls due to a lack of chips. (reuters.com)
Global
- Germany is going back into lockdown to fight a new Covid wave. (npr.org)
- A list of the world's most innovative economies including China for patents. (ritholtz.com)
Housing
- There were only a little over 1.0 million homes for sale in the U.S. at the end of February. (cnbc.com)
- New realtors are having a hard time in a hot market. (wsj.com)
Earlier on Abnormal Returns
- Research links: a few simple rules. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: you can't buy culture. (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)
Mixed media
- Ten ways the pandemic has changed office work forever including 'The office will still exist, but you’ll use it differently.' (vox.com)
- There is a disconnect between how workers and bosses feel about the state of the pandemic work place. (seattletimes.com)
- Working long hours creates more problems than it solves. (rationalwalk.com)
- Some companies using the pandemic as cover to engage in age discrimination. (ft.com)