Quote of the Day
"Above all, what Holmes did was make investors and partners believe that the pain of not benefiting from Theranos’ upside would far outweigh any regret they might feel if the company failed to deliver."
(James Surowiecki)
Chart of the Day

How major asset classes performed in May 2021, in short pretty well.
Companies
- Signs that business travel is coming back. (wsj.com)
- 'Supply chain resilience' is the new corporate buzzword. (nytimes.com)
- 'Shrinkflation' is on the rise. (washingtonpost.com)
Finance
- The pressure on SPAC sponsors is only going to grow over time. (wsj.com)
- Financial exchanges are keeping an eye on new asset classes and instruments. (ft.com)
AMC
- AMC ($AMC) just raised a big round of capital to fund expansion. (variety.com)
- AMC ($AMC) has played their hand well. (ft.com)
- CEO's court the Reddit crowd at their own risk. (bloomberg.com)
Food delivery
- Why Domino's ($DPZ) won't work with the big delivery apps. (wsj.com)
- Delivery companies are revamping their offerings to keep restaurants onboard. (eater.com)
- Food delivery apps are shifting to items other than restaurant food. (wsj.com)
- The ghost kitchen business model doesn't work without a delivery system. (theverge.com)
Alternatives
- Why every private equity manager is in search of 'permanent capital.' (blogs.cfainstitute.org)
- How the pandemic has accelerated the globalization of venture capital. (avc.com)
Economy
- The manufacturing boom is on track. (bonddad.blogspot.com)
- It's going to take a while for supply constraints to work through the inflation numbers. (ritholtz.com)
- Supply constraints are going to push sales into 2022. (bloomberg.com)
Earlier on Abnormal Returns
- Research links: extremely high valuations. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: unreasonable expectations. (abnormalreturns.com)
- Why it's such a weird time to be an investor. (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)