Quote of the Day
"Envy will make you take wild risks with a portfolio. Especially when all you see around you are so many people you have such little regard for profiting off of things you know they themselves barely understand."
(Joshua Brown)
Strategy
- Being contrarian is easier in hindsight. (awealthofcommonsense.com)
- You can feel the fear and greed in the air. (thereformedbroker.com)
Books
- A Burton Malkiel review of Robin Wigglesworth's new book "Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever." (wsj.com)
- A look at Mark Spitznagel's "Safe Haven: Investing for Financial Storms." (ft.com)
Crypto
- FTX raised capital at a $25 billion valuation from a blue chip list of investors. (theblockcrypto.com)
- Fanatics’ NFT company Candy Digital has raised fresh new capital. (theblockcrypto.com)
- A look at the historic first day for the ProShares Bitcoin Strategy ETF ($BITO). (morningstar.com)
- How big a drag will the future roll be for $BITO? (finance.yahoo.com)
- Robert Armstrong, "If you can’t be bothered to learn the unique subtleties involved in owning this stuff, you can’t possibly understand the risks, and so you should not own it at all. Bitcoin ETFs should not exist." (ft.com)
Listings
- WeWork ($WE) is now public. (nytimes.com)
- Portillo's ($PTLO) shares had a strong debut. (reuters.com)
Economy
- Weekly initial unemployment claims continue trending lower. (bonddad.blogspot.com)
- Analogies to 1970's stagflation are way off base. (ritholtz.com)
- Higher energy costs affect every sector of the economy. (economist.com)
Earlier on Abnormal Returns
- Longform links: in front of you right now. (abnormalreturns.com)
- A Q&A with Robin Powell, co-author of "Invest Your Way to Financial Freedom." (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the same problems. (abnormalreturns.com)
- Abnormal Returns recently celebrated its sixteenth blogiversary, not that it is a thing anymore... (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
Mixed media
- 80% of American Express ($AXP) workers are opting for hybrid. (bloomberg.com)
- Five insights from Joe Sanok's new book "Thursday Is the New Friday: How to Work Fewer Hours, Make More Money, and Spend Time Doing What You Want." (nextbigideaclub.com)
- The office is being transformed before our eyes. (nytimes.com)
