Quote of the Day
"The more market caps on unicorns compress, the greater the downward pressure on rainbow foals’ valuations."
(Tomasz Tunguz)
Markets
- Seven thing that could actually go right for the markets. (blog.validea.com)
- Where the equity risk premium stands. (economist.com)
Strategy
- Picking stocks is hard, the case of Meta ($META). (theirrelevantinvestor.com)
- The problem with trying to 'buy the dip.' (onveston.substack.com)
Venture capital
- A profile of Union Square Ventures and how it uses 'deep thinking and unusual discipline' to outperform its peers. (readthegeneralist.com)
- Sequoia Capital is feeling the pain of the bear market. (newcomer.co)
The SEC
- Why the SEC could look to regulate index providers. (etf.com)
- Activist hedge funds don't want to have to disclose more about their positions. (institutionalinvestor.com)
Sports
- Sports betting firms are betting big on content partnerships. (hollywoodreporter.com)
- The NBA is not immune from a drop in viewership. (variety.com)
- Did the Boehly group overpay for Chelsea FC? (nypost.com)
Global
- Japan is no longer a demographic outlier. (bloomberg.com)
- Russia's fleet of commercial aircraft is shrinking as sanctions bite. (wired.com)
- Democracy in Hong Kong has been effectively snuffed out. (theatlantic.com)
Economy
- Inventories are rising, but are not at alarming levels. (washingtonpost.com)
- Mortgage refinancing activity has dried up. (calculatedriskblog.com)
Earlier on Abormal Returns
- Personal finance links: difficult comparisons. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: predicting the future. (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
- Sebastian Mallaby tells the story of venture capital in "The Power Law." (advisorperspectives.com)
- Some business books for summer reading including "Butler to the World: How Britain Became the Servant of Tycoons, Tax Dodgers, Kleptocrats and Criminals" by Oliver Bullough. (ft.com)
- The best books of 2022, so far, including "Tracy Flick Can't Win" by Tom Perrotta. (esquire.com)
