Quote of the Day
"In the crypto world, because crypto exchanges are not regulated as exchanges, there is no NBBO and there is no official record of the best price."
(Tomio Geron)
Chart of the Day
30-year mortgage rates are content to sit below 3.0%. (chart via Freddie Mac)
Markets
- How worried should we be about waning market breadth? (systematicindividualinvestor.com)
- Cash in money market funds are still near all-time highs. (sentimentrader.com)
- Marijuana stocks have gotten crushed. (thefelderreport.com)
Crypto
- Coinbase ($COIN) is planning to jump into cryptocurrency derivatives. (finance.yahoo.com)
- Cryptocurrencies and the 'resulting fallacy.' (thewhippet.substack.com)
- Gary Gensler has made a lot of noise, but what of it will actually get implemented? (economist.com)
Startups
- Despite it's problems Silicon Valley is still the startup center of the world. (news.crunchbase.com)
- Discord just raise capital at a $15 billion valuation. (finance.yahoo.com)
- Pacaso is expanding overseas. (housingwire.com)
China
- There are no Chinese companies left among the ten biggest in the world. (finance.yahoo.com)
- China has cracked down on financial blogs and social media. (ft.com)
- By this measure China is already the world's 'most dominant economy.' (economist.com)
Economy
- The Delta variant has not really affected weekly initial unemployment claims. (bonddad.blogspot.com)
- Higher wages are going make some business models unworkable. (ryanavent.substack.com)
- Higher shipping costs are working their way through the cost chain (wsj.com)
Earlier on Abnormal Returns
- Longform links: craving entertainment. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: a first-world curse. (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)
