Quote of the Day
"There certainly are good reasons for selling, but they have nothing to do with the fear of making mistakes, experiencing regret and looking bad."
(Howard Marks)
Chart of the Day

Energy and financials are clearly leading the stock market of late.
Markets
- You can't ignore the impact of rising interest rates. (theirrelevantinvestor.com)
- German bund yields have ticked above 0% for the first time in awhile. (ft.com)
- A sign of growing interest in energy stocks. (sentimentrader.com)
Commodities
- Due to various headwinds, commodity futures index funds are not likely to do much for your portfolio. (morningstar.com)
- What's behind lumber price volatility? Think climate change. (msn.com)
Crypto
- The Bitcoin bear market has pulled down the entire ecosystem. (wsj.com)
- You can soon buy NFTs on Coinbase ($COIN) with a MasterCard. (decrypt.co)
Microsoft
- Microsoft ($MSFT) was able to buy Activision Blizzard ($ATVI) due to its many issues. (arstechnica.com)
- Sony ($SNE) investors did not like the Activision deal. (ft.com)
- How closely will regulators look at this deal? (theverge.com)
- Why gaming is the new social media. (washingtonpost.com)
Streaming
- Why Netflix ($NFLX) should rethink its aversion to live sports. (bloomberg.com)
- Why Sony ($SNE) is sitting out the streaming wars. (ft.com)
- YouTube is shutting down its original content group. (variety.com)
- Startup Filmhub helps filmmakers get their movies onto streaming platforms. (techcrunch.com)
Finance
- Algorithmic bond trading is growing from a low base. (axios.com)
- Retail investors have made it more dangerous to short a stock. (wsj.com)
Peloton
- Peloton ($PTON) is growing through growing pains. (investmenttalk.substack.com)
- Jesse Pujji talks with Vinny Pujji about the business of Peloton ($PTON). (podcasts.apple.com)
Inflation
- Canada is also seeing decade-high inflation. (bnnbloomberg.ca)
- Inflation is not one thing - look behind the curtain (ritholtz.com)
Earlier on Abnormal Returns
- Personal finance links: counting your money. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: inconsistent indexing. (abnormalreturns.com)
- Learning from your money mistakes. (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)