Quote of the Day
"Warren Buffett is the greatest investor in history. I don’t think his (or Charlie’s) takes on the state of the markets are crucial to listen to anymore. I’m not sure if these takes are doing more harm than good at this point. I never thought I would be saying this out loud."
(Josh Brown)
Chart of the Day

The markets really are different pre- and post-GFC.
Markets
- The transportation stocks are on a historic roll. (sentimentrader.com)
- The commodity futures markets are once again in backwardation. (mrzepczynski.blogspot.com)
Strategy
- Investing without a plan is a recipe for disaster. (awealthofcommonsense.com)
- Talking your book makes it harder to change your mind. (ensofinance.blog)
Crypto
- Where the Bitcoin ETF filings stand. (etftrends.com)
- Just how much Grayscale earns from the Grayscale Bitcoin Trust ($GBTC). (etf.com)
SPACs
- Why Gores Group has so much credibility with SPAC investors. (wsj.com)
- SPAC-backed Apex Clearing is hitting on all cylinders. (riabiz.com)
- Making the case that the SPAC boom seems to have peaked. (ft.com)
Finance
- The competition in servicing the secondary market for startup shares is growing. (cnbc.com)
- Wealthsimple is on its way to becoming a financial super-app. (protocol.com)
- Big banks are urging corporate clients to put cash into money market funds vs. deposits. (ft.com)
Companies
- Apollo Global ($APO) is going to focus on Yahoo's sports and finance verticals. (ft.com)
- Om Malik, "With Spaces, Revue, and now Scroll, Twitter has started to think different..." (om.co)
Reading
- Why reading physical books is just better. (impersonalfinances.com)
- Want to read more? Try the Libby app. (engadget.com)
Earlier on Abnormal Returns
- Research links: a marketing trick. (abnormalreturns.com)
- Adapting to a world bent on falsifying the past. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: increasing your value. (abnormalreturns.com)
- May ESG links: measuring impact. (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
- Offices are moving closer to workers in the suburbs. (wsj.com)
- Six questions to ask before returning to the office including mask policies. (theatlantic.com)
- Most people aren't going to spend time in the office just do to solo computer work. (ritholtz.com)
- Productivity numbers are not going to capture time saved not commuting. (marginalrevolution.com)