Quote of the Day
"For most investors, our most reliable Edge lies in a series of virtues that seem painfully out of fashion these days: patience, humility, and diligence."
(Devesh Shah)
Chart of the Day
Lumber prices are off their peak, but double what they were two years ago.
Markets
- It's official. Financial conditions are tightening. (sentimentrader.com)
- Bond funds are off to a bad start to the year. (morningstar.com)
- Distressed debt investors are sitting on a lot of dry powder. (bloomberg.com)
Strategy
- Forecasting markets is hard even when you know what will happen. (theirrelevantinvestor.com)
- Investing isn't about being right or wrong. (safalniveshak.com)
- What Punxsutawney Phil can teach us about the folly of forecasting. (fortunesandfrictions.com)
- You cannot buy past returns. (mutualfundobserver.com)
The Revolution That Wasn't
- An excerpt from "The Revolution That Wasn't: GameStop, Reddit, and the Fleecing of Small Investors" by Spencer Jakab. (wsj.com)
- A rave review for Spencer Jakab's new book "The Revolution That Wasn't: Gamestop, Reddit, and the Fleecing of Small Investors." (latimes.com)
Payments
- PayPal ($PYPL) drastically changed its outlook, for the worse. (wsj.com)
- Without much hype, Zelle continues to grow. (protocol.com)
Venture capital
- The stock market pullback is finally working its way through startup valuations. (wsj.com)
- Trends in startup naming including 'word combos and puns.' (news.crunchbase.com)
Housing
- Why the housing market isn't going to normalize any time soon. (awealthofcommonsense.com)
- The housing supply chain is still stressed. (bloomberg.com)
- House prices are not rising uniformly across the U.S. (econofact.org)
- Would you accept free, rural land in Kansas? (thehustle.co)
- By this measure the apartment market is still tight. (calculatedrisk.substack.com)
- How homeownership affects retirement. (philadelphiafed.org)
Earlier on Abnormal Returns
- Personal finance links: a non-normal housing market. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: delightfully weird anomalies. (abnormalreturns.com)
- February ESG links: stakeholder capitalism. (abnormalreturns.com)
- Just because sports gambling is legal, doesn't mean you should participate. (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)
