Quote of the Day
"Life is like a boomerang. What you give you get. And karma, they say, never loses its address."
(Vishal Khandelwal)
Markets
- The stock market went from oversold to overbought quite quickly. (sentimentrader.com)
- Insiders, like Elon Musk, are not shy about selling shares in 2021. (wsj.com)
Restaurants
- Why restaurants, like Mcdonald's ($MCD) are teaming up with celebrities on specialty menus. (nytimes.com)
- Jack in the Box ($JACK) is buying Del Taco. (cnbc.com)
- Utah is a hotbed for fast-growing soda shop chains. (nytimes.com)
Sports
- Sports teams are becoming multi-team conglomerates. (frontofficesports.com)
- Two NHL teams are close to selling stakes to private equity firms. (ft.com)
- Endeavor ($EDR) is getting into the minor league baseball business. (variety.com)
- Football clubs are issuing cypto, fan-tokens. (bbc.com)
Fund management
- Cathie Wood is facing a major drawdown in fund performance. (on.ft.com)
- Central Securities ($CET) is one of the few public funds to have outperformed the S&P 500 over the long run. (wsj.com)
Economy
- Annual CPI is running at a rate not seen since June 1982. (calculatedriskblog.com)
- Americans are pulling out more home equity. (calculatedrisk.substack.com)
Earlier on Abnormal Returns
- Podcast links: the business of sports. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: how oceans move. (abnormalreturns.com)
- A Q&A with Phil Huber author of the new book "The Allocator's Edge." (abnormalreturns.com)
- An anti-investment policy statement. (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
- The Metropolitan Museum of Art has removed the Sackler name from exhibitions. (bbc.com)
- Russ Roberts talks with Michael Faye and Paul Niehaus of GiveDirectly about how to best help the poorest people in the world. (econtalk.org)
- MacKenzie Scott wants to emphasize the charities she gives to and de-emphasize the amount of her giving. (mackenzie-scott.medium.com)
- Elon Musk trolls even when it comes to charitable giving. (nytimes.com)
