Quote of the Day
"Career incentives can push complexity in a field where simplicity leads to the best outcomes."
(Morgan Housel)
Markets
- The worst years in the U.S. stock market have historically led to good future returns. (awealthofcommonsense.com)
- Why the bond bear market may already be over. (pragcap.com)
Strategy
- An eight-step plan for dealing with a bear market including 'Check your expectations.' (morningstar.com)
- Seven questions about the economy and stock market including 'How will rapidly rising mortgage rates impact housing prices?' (awealthofcommonsense.com)
Crypto
- Why this cryptocurrency crash is different. (theatlantic.com)
- The Ethereum network is getting closer to a big overhaul. (fortune.com)
- It looks like crypto has its own insider selling problem. (investmentnews.com)
Companies
- Why the downturn could enhance the power of Big Tech. (nytimes.com)
- How inflation affects companies differently. (aswathdamodaran.blogspot.com)
- Where Peloton ($PTON) went wrong: assuming the good times would last. (wsj.com)
- Tesla ($TSLA) has more problems than just a an unhinged CEO. (nytimes.com)
Startups
- M.G. Siegler, "Timing can make great companies look dumb and dumb companies look great." (500ish.com)
- Not every startup is in the same boat. (crossstack.substack.com)
- The private markets are filled with overpriced companies. (howardlindzon.com)
- It's going to take a while to work through the problems in VC land. (avc.com)
Global
- The case for a global recession is growing. (ft.com)
- Who won the China-U.S. trade war? Probably Vietnam... (wsj.com)
- Mum's the word. The NBA is back on in China. (espn.com)
Policy
- What lessons can we take away from the fiscal response to Covid? (stayathomemacro.substack.com)
- Pandemic relief programs were beset with fraud. (washingtonpost.com)
- Why so many public health officials left in the wake of the pandemic. (scientificamerican.com)
- Why does the U.S. Supreme Court still not have a formal ethics code? (theatlantic.com)
- Mass shooters, by and large, get their guns legally. (nytimes.com)
Economy
- Why inflation is likely set to cool, including improving supply chains. (tker.co)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Podcast links: identifying talent. (abnormalreturns.com)
- Things are tough out there. Here is some required bear market reading. (abnormalreturns.com)
- A Q&A with Brian Feroldi author of “Why Does the Stock Market Go Up.” (abnormalreturns.com)
- Writing IS thinking. (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
- A review of "Talent: How to Identify Energizers, Creatives, and Winners Around the World," by Tyler Cowen and Daniel Gross. (city-journal.org)
- Why working through a Covid infection is a bad idea for everyone involved. (annehelen.substack.com)
- When it comes to hybrid work everyone is just winging it. (nytimes.com)