Quote of the Day
"Long term is harder than most people imagine, which is why it’s more lucrative than many people assume."
(Morgan Housel)
Chart of the Day
In case you needed a reminder that the U.S. housing market is on fire. (via @lenkiefer)
Behavior
- How to think about windfall gains. (systematicindividualinvestor.com)
- Peter Lynch on some common mistakes investors make. (novelinvestor.com)
Crypto
- How criminals turn crypto into cold, hard cash. (ft.com)
- A closer look at the major stablecoins. (wsj.com)
Companies
- Omnichannel is big winner in retail. (morningstar.com)
- Why aren't the big food delivery companies making money yet? (wsj.com)
Finance
- There's never been a better time to issue convertible debt. (wsj.com)
- How Archegos took the wind out of the SPAC trade. (ft.com)
- AMC ($AMC) bonds are trading near par. (bloomberg.com)
ETFs
- The first psychedelics-focused ETF has launched. (etf.com)
- Starting an ETF is neither easy or cheap. (alphaarchitect.com)
Global
Economy
- American manufacturing is booming, except for automakers. (barrons.com)
- Why people hate inflation: think lagging wages. (noahpinion.substack.com)
Earlier on Abnormal Returns
- Podcast links: turning the tables. (abnormalreturns.com)
- Why it's such a weird time to be an investor. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: creating the cloud. (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
- Why the housing market is so crazy right now. (theatlantic.com)
- The housing market in Boise, Idaho mirrors what is happening all over the American West. (npr.org)
- Youths are renting apartments in New York City. (wsj.com)
- The Jersey Shore real estate market has largely ignored the risk of rising sea levels. (bloomberg.com)
- Why Americans are spending like crazy on their backyards. (washingtonpost.com)
