Quote of the Day
"The best investors are masters of subtraction."
(Novel Investor)
Markets
- Brazil's stock market is off to a good start in 2022. (axios.com)
- European bond yields are on the way higher. (allstarcharts.com)
Strategy
- Valuations matter, but so do the details. (blog.validea.com)
- Why we love to provide post hoc reasons for market moves. (ritholtz.com)
- Brett Steenbarger, "Bad trading is sticking with ideas out of stubborness." (traderfeed.blogspot.com)
- Is Facebook ($FB) the first domino to fall among Big Tech? (philbak.substack.com)
- Facebook has allowed a cadre of 'superusers' to drive engagement on the platform. (theatlantic.com)
- Facebook as a product is dead. It puts the rest of the company at-risk. (500ish.com)
Companies
- Twitter ($TWTR) has been a disappointment as a public company. (theirrelevantinvestor.com)
- Stock-based compensation schemes work best when the price keeps going up. (ft.com)
- A major accounting scandal didn't kill Luckin Coffee. (ft.com)
- Why DTC companies don't have network effects. (unchartedterritories.tomaspueyo.com)
Apple
- How did Apple ($AAPL) do product-wise in 2021? (sixcolors.com)
- Apple ($AAPL) is favoring iPhones over iPads when it comes to supply constraints. (ft.com)
- App Store, or not, Apple ($AAPL) wants to get paid. (macworld.com)
SPACs
- SPACs are the new money market funds. (wsj.com)
- The first half of 2023 is going to see a wave of SPAC expirations. (ft.com)
Funds
- Fidelity's index arm now manages some $1 trillion in assets. (on.ft.com)
- Why ETFs have a tax advantage over mutual funds. (morningstar.com)
- On the high cost of performance fees. (klementoninvesting.substack.com)
Economy
- Despite Omicron, weekly initial claims are sitting at low levels. (calculatedriskblog.com)
- January CPI came in hot guaranteeing Fed rate hikes. (bonddad.blogspot.com)
- Why inflation is hanging around. (ritholtz.com)
- Why gasoline prices could be elevated for awhile. (wsj.com)
- Americans are still overcompensating in the grocery store. (wsj.com)
- Is a recession the only cure for inflation? (capitalspectator.com)
Earlier on Abnormal Returns
- Longform links: capturing value. (abnormalreturns.com)
- Personal finance links: the nature of wealth. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: daytime drama. (abnormalreturns.com)
- The upside of creating something everyday. (abnormalreturns.com)
- What we can from Mackenzie Scott about donating money with intention. (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)
