Quote of the Day
"At the other side of every mania sits the reality that is the weighing machine. It was always there, lurking in the background, but in the midst of a parabolic, sentiment-driven advance, nothing could seem more irrelevant."
(Charlie Bilello)
Markets
- The FAANG stocks have cooled off. (morningstar.com)
- The Treasury yield curve is flattening. (allstarcharts.com)
Strategy
- The advantages of great operators grow over time. (theundercoverfundmanager.com)
- What effect would sustained inflation have on equity valuations? (blogs.cfainstitute.org)
Crypto
- Cryptocurrencies appeal to a very different demographic. (wapo.st)
- Why fashion brands are so eager to get their wares into video games. (gq.com)
Customer service
- Apple's ($AAPL) customer-facing employees are struggling. (theverge.com)
- Costco ($COST) is a standard bearer for good customer service. (humbledollar.com)
- Companies should not treat customer service as a cost center. (seths.blog)
Real estate
- Bill McBride, "In real terms, house prices are now above the previous peak levels." (calculatedrisk.substack.com)
- Where investors are stepping up their purchase of single family home rentals. (nytimes.com)
- Why Bentonville, Arkansas is the next Austin. (wapo.st)
Economy
- Weekly initial unemployment claims are levels not seen since the onset of the pandemic. (calculatedriskblog.com)
- Covid is the only thing holding back the economy at this point. (bonddad.blogspot.com)
- The biggest companies have been key in the rise in wage. (fullstackeconomics.com)
- What bicycle manufacturers say about the prospects for inflation. (wsj.com)
Earlier on Abnormal Returns
- Longform links: filled channels. (abnormalreturns.com)
- December ESG links: emissions incentives. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: gratitude and generosity. (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)
