Quote of the Day
"Facebook is an all-time great business because its ads are so effective in getting people to buy things. And yet the company wants us to believe it isn’t similarly effective at getting people to change their politics?"
(Casey Newton)
Chart of the Day
If you would have told eighteen months ago this would happen there would have been widespread disbelief. (via @cullenroche)
Markets
- 30-year mortgage rates are sitting well below 3.0%. (housingwire.com)
- Investors have been enthusiastically selling industrial stocks. (sentimentrader.com)
Strategy
- Copying other investors doesn't make for outperformance. (blogs.cfainstitute.org)
- Why small traders shouldn't emulate the big money crowd. (robotwealth.com)
Crypto
- Regulators are zeroing in on rules around stablecoins. (nytimes.com)
- What happens to the case for Bitcoin as it becomes more correlated with financial assets? (economist.com)
- FTX is signing more sponsorship deals. (theblockcrypto.com)
Finance
- Competition is heating up in the pre-IPO trading space. (riaintel.com)
- Capital Markets Gateway LLC aims to modernize the IPO syndicate process. (wsj.com)
- It's gotten radically cheaper to embed financial APIs into a work flow. (notboring.co)
Sports gambling
- FanDuel has opened up a lead over DraftKings ($DKNG). (bloomberg.com)
- Disney ($DIS) and ESPN have lost any inhibitions about sports gambling partnerships. (washingtonpost.com)
Economy
- Weekly initial unemployment claims are steady despite the Delta variant. (bonddad.blogspot.com)
- A closer look at the Fed's expectations around employment and inflation. (theovershoot.co)
- Chip shortages are not going away any time soon. (washingtonpost.com)
Earlier on Abnormal Returns
- Longform links: future generations. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the power of saving. (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)
