Quote of the Day
"The damage wrought by our fascination with short-term performance is a toxic combination of two behavioural impulses– narrative fallacy and extrapolation."
(Joe Wiggins)
Commodities
- Lumber futures are down more than 50% from the highs earlier this year. (bnnbloomberg.ca)
- Oil refiners are making bank. (economist.com)
- Farmland prices keep rising. (agweb.com)
Strategy
- Stop blaming the Fed for your bad investment decisions. (ritholtz.com)
- Ten underappreciated things about investing including 'The role of luck in investment outcomes.' (realreturns.blog)
- Sector classification is not static. (mrzepczynski.blogspot.com)
Finance
- The SPAC unwind is accelerating. (ft.com)
- The sale of secondary startup shares is happening at much lower prices. (theinformation.com)
Apple
- Apple ($AAPL) is financing its new BNPL service. (arstechnica.com)
- BNPL is now another loyalty hook for Apple ($AAPL) users. (wired.com)
Global
- The ECB is set to tighten policy in the facing of rising inflation. (cnbc.com)
- Why China isn't done with lockdowns. (ft.com)
Economy
- Initial unemployment claims are now trending higher from a low base. (bonddad.blogspot.com)
- On the relationship between the Misery Index and consumer sentiment. (econbrowser.com)
- Why inflation is so hard to forecast these days. (pragcap.com)
Earlier on Abnormal Returns
- Longform links: the history of the mall. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: creating a plan that works. (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)
