Quote of the Day
"Incentives are almost like a drug in their ability to cloud your judgment in a way you would have found unthinkable beforehand. They can get good people to justify all kinds of things."
(Morgan Housel)
Markets
- What a relative shift from institutional to individual investors means for markets. (morningstar.com)
- Short interest in the ARK Innovation Fund ($ARKK) is on the rise. (ft.com)
- Inflation breakevens are off their highs. (econbrowser.com)
Strategy
- More companies than ever trade at more than 15x sales. (novelinvestor.com)
- It's easy to get overconfident after a string of successes. (valueandopportunity.com)
Crypto
- Ethan Allen ($ETH) has changed it ticker to avoid confusion with Ethereum. (coindesk.com)
- Buy some hot dogs, get a chance to win some Dogecoin. (finance.yahoo.com)
Companies
- Warren Buffett shares one problem with Big Tech: a bunch of cash on the balance sheet. (bloomberg.com)
- Walmart ($WMT) is upping pay to keep warehouse workers. (wsj.com)
- Is Zomato even a tech company? (hbr.org)
Finance
- Corporate venture capital outfits are putting a lot of capital to work. (axios.com)
- More SPACs are targeting overseas companies. (wsj.com)
- The biotech IPO pipeline has been robust. (biopharmadive.com)
Fund management
- The global investment management industry emerged through the pandemic in good shape. (institutionalinvestor.com)
- Investors are once again allocating to hedge funds. (bloomberg.com)
Economy
- The July NFP report was strong across the board. (bonddad.blogspot.com)
- Small businesses are not happy with the quality of applicants. (axios.com)
- The pandemic was an accelerant to business formation. (theatlantic.com)
Earlier on Abnormal Returns
- Podcast links: dramatic tension. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the creative class. (abnormalreturns.com)
- The big social media platforms change over time. So should your approach to them. (abnormalreturns.com)
- It has been a disappointing year for goldbugs. (abnormalreturns.com)
- August ESG links: diverse perspectives. (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)
