Quote of the Day
"Free advice: Keep your leverage low, your emotions in check, do a lot less than you did during the rally, no heroics, no style points and don’t try to overthink things."
(Joshua Brown)
Chart of the Day
(finance.yahoo.com)Strategy
- Why isn't gold up more? (wealthmanagement.com)
- Mike Piper, "So, how should we invest if a recession is looming? About the same way we invest the rest of the time." (obliviousinvestor.com)
Companies
- Revisiting the BNPL business model. (thediff.co)
- Tech platforms want no part of the post-Roe infowars. (protocol.com)
- Matt Levine, "As a corporate finance matter, Musk is reshuffling Twitter’s shareholder base to make it Muskier, but as a management matter he might have to do the same with the employees." (bloomberg.com)
- Packy McCormick, "Instead of an Aggregator that operates like a social network and monetizes through ads, Twitter should be a Platform that operates like a professional network and monetizes through subscriptions." (notboring.co)
- Contrary to the hype, you can learn a lot on Twitter ($TWTR). (ianleslie.substack.com)
Outsiders
- Who are today's 'outsider CEOs'? (thetycoonist.com)
- Lessons learned from Tom Murphy of Cap Cities. (rationalwalk.com)
Funds
- Target date funds aren't really built for taxable accounts. (washingtonpost.com)
- How major asset managers vote on ESG matters. (klementoninvesting.substack.com)
Housing
- Some tentative signs that the housing market is beginning to cool. (calculatedrisk.substack.com)
- More retirees are headed to amenity-rich rural areas. (wsj.com)
Earlier on Abnormal Returns
- Adviser links: demanding humility. (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
- More things can happen than currently contemplated, the Kentucky Derby edition. (ritholtz.com)
- MLS could push the NHL aside the fourth biggest pro sport in the U.S. (bloomberg.com)
- Steve Cohen is pushing Moneyball to its logical conclusion. (wsj.com)
- Who really benefits from the legalization of online gambling? (theatlantic.com)