Quote of the Day
"Fundamentals are engaged in a perpetual game of tug-of-war with stories."
(Jack Raines)
Chart of the Day
Mortgage rates have stopped going up, for now. (chart via Mortgage News Daily)
Markets
- Investor sentiment is pretty negative. (capitalspectator.com)
- How much further could stocks fall? (theirrelevantinvestor.com)
- Bear markets can happen without a recession. (awealthofcommonsense.com)
- In markets, there is a difference between disappointed and surprised. (fortunesandfrictions.com)
Crypto
- 'The Bitcoin as gold' meme is done for. (morningstar.com)
- Bitcoin is trading in near lockstep with tech stocks. (bloomberg.com)
- Twitter ($TWTR) has always been a soap opera. (howardlindzon.com)
- Elon Musk is blowing through financial norms. (axios.com)
Fund management
- What all the critics of index investing all have in common. (ritholtz.com)
- Non-transparent ETFs have been slow to gain traction. (etf.com)
Earlier on Abnormal Returns
- Podcast links: marketplace investing. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: appetite control. (abnormalreturns.com)
- If YOU are the product, how do you ever take a break? (abnormalreturns.com)
- Two thoughts on nostalgia. (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
- Some books that investors interested in behavior should read including "The Psychology of Money" by Morgan Housel. (behaviouralinvestment.com)
- Deborah Birx's book is an important addition to the history of the American approach to the Covid pandemic. (theatlantic.com)
- Some observations from "The Great Depression: A Diary" by Benjamin Roth. (novelinvestor.com)
