Quote of the Day
"You don’t want to go bust right now. So it is time to take your lumps, learn some valuable lessons from them, and move on."
(Fred Wilson)
Chart of the Day

Energy stocks have diverged from oil prices. (chart via @ycharts)
Markets
- The stock market is oversold, what comes next? (ritholtz.com)
- Markets are moving faster than ever before. (theirrelevantinvestor.com)
- Some timeless lessons from the past two years including 'Be careful who you take financial advice from.' (awealthofcommonsense.com)
Companies
- Hundreds of companies are down 80% from their highs. (theirrelevantinvestor.com)
- A lot of companies were fueled by 'Covid cocaine' the past two years. (gothamgal.com)
Strategy
- Joe Wiggins, "Bear markets are a breeding ground for emotions-based investing." (behaviouralinvestment.com)
- The benefits of diversification change over time. (morningstar.com)
Crypto
- The crypto bear market is having an effect on sports marketing deals. (nypost.com)
- Crypto owners likely have some tax loss harvesting to do. (thomaskopelman.com)
Fund management
- The story of the past few years as told through Tiger Global. (nymag.com)
- A list of the most powerful people in investment management including Larry Fink. (ft.com)
Global
- How much damage did Brexit do the UK economy? (ft.com)
- Africa's youth are eager to emigrate. (qz.com)
Economy
- Housing inventory is on the rise, and existing home sales are falling. (calculatedrisk.substack.com)
- Spending on services is cooling off. (washingtonpost.com)
Earlier on Abnormal Returns
- Research links: predicting the future. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: leading to self-acceptance. (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)