Quote of the Day
"There’s a lot of room between where a broken growth stock can fall from and where a more value-oriented buyer might be compelled to take a look."
(Joshua Brown)
Chart of the Day

Small options traders have been buying puts hand over fist of late.
Markets
- How stocks perform during periods of Fed tightening. (awealthofcommonsense.com)
- Is the 'quant winter' finally over? (bloomberg.com)
Rates
- It took a rise in interest rates to turn investors off muni bond funds. (wsj.com)
- Why the Fed is, in part, to blame for rising mortgage rates. (wsj.com)
Strategy
- No two market cycles are alike. (ritholtz.com)
- Risk is the price you pay for the return to equities. (compoundadvisors.com)
- Good writing and good investing go hand-in-hand. (dariusforoux.com)
Crypto
- FTX raised new capital at a $32 billion valuation. (theblockcrypto.com)
- Cryptocurrency volatility is a feature, not a bug. (wapo.st)
Big Tech
- The transition from Facebook to Meta is hitting some bumps along the way. (nytimes.com)
- Microsoft ($MSFT) still has a lot of growth levers to pull. (luttig.substack.com)
- Apple ($AAPL) has made big investments in AR. (macworld.com)
- Google ($GOOGL) will invest $1 billion in the Indian telecom operator Airtel. (techcrunch.com)
- How the FTC is planning to rein in Big Tech market power. (wsj.com)
Venture
- Fast grocery delivery companies are losing money in order to gain customers and market share. (wsj.com)
- Are late-stage investors like Tiger Global doing enough due diligence? (ft.com)
Fund management
- The hedge fund industry is concentrating among fewer, multi-strategy funds. (bloomberg.com)
- Low prospective returns are pushing more investors into alternatives. (marketwatch.com)
- Capital gains distributions are the Achilles heel of open-end mutual funds. (morningstar.com)
Economy
- Where rents are rising the most around the U.S. (washingtonpost.com)
- Housing inventory is at a new record low. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Adviser links: the best technologies. (abnormalreturns.com)
- Just because sports gambling is legal, doesn't mean you should participate. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone read last week on the site. (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
- Companies are happy to hire burned out teachers. (nytimes.com)
- Five insights from Jonthan Malesic's new book "The End of Burnout: Why Work Drains Us and How to Build Better." (nextbigideaclub.com)
- Companies are adding fertility services to their benefits packages. (axios.com)
- How to set yourself up for a career change. (josephcwells.com)