Quote of the Day
"Bitcoin’s value is rooted not in the Bitcoin blockchain, but rather in the collective belief of millions that it is in fact valuable; NFTs, to the extent they capture and retain value, will require the same sort of collective belief..."
(Ben Thompson)
Markets
- Some signs that equity market sentiment is getting frothy. (athrasher.com)
- Why margin credit balances are, at best, an imprecise measure of leverage. (mrzepczynski.blogspot.com)
Strategy
- What happens after the stock market has a big up year? (awealthofcommonsense.com)
- Don't fall for the 'cash on the sidelines' trope. (ritholtz.com)
Crypto
- Why the Coinbase ($COIN) direct listing is a big deal for crypto. (news.crunchbase.com)
- Some 96% of Coinbase’s net revenue came from transaction fees. (wsj.com)
Companies
- Microsoft ($MSFT) is buying speech recognition company Nuance ($NUAN). (bloomberg.com)
- Why Intel ($INTC) now has a chance at a reboot. (mondaynote.com)
- CEO compensation powered through the pandemic. (wsj.com)
Startups
- Capital is rushing to fund rapid grocery delivery services like Getir, Jiffy and GoPuff. (ft.com)
- Fintech startups are trying to make stock trading more social. (protocol.com)
- There has been a rush of new Indian unicorns. (fortune.com)
- Does Clubhouse have a second act? (businessofbusiness.com)
Economy
- The labor force will not rebound until people feel safe. (wsj.com)
- Why there are some big labor market mismatches. (axios.com)
- Millennials are in many ways driving the housing market. (axios.com)
Earlier on Abnormal Returns
- Adviser links: better abstractions. (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)
