Quote of the Day
"Here is the thing you need to know about uncertainty: It is always and forever exactly the same. The future is unknown and unknowable, inherently uncertain. You just refuse to acknowledge this, because that reality is pretty terrifying."
(Barry Ritholtz)
Chart of the Day
Housing prices are still going up, but homebuilder stocks are down. (chart via @ycharts)
Finance
- The venture fundraising slowdown is here. (institutionalinvestor.com)
- Andreessen Horowitz is going virtual. (a16z.com)
Companies
- Amazon ($AMZN) is buying One Medical ($ONEM). (techcrunch.com)
- What Apple ($AAPL) has in mind for its health care push. (reuters.com)
Global
- China has fined ride-hailing giant, Didi Global some $1.2 billion over 'data handling.' (nytimes.com)
- Canada's consumer-price index increased 8.1% in June. (marketwatch.com)
Economy
- Logan Mohtashami, "The savagely unhealthy housing market is continuing as we get closer to August. But, there is one bright spot — inventory is rising." (housingwire.com)
- Weekly initial unemployment claims continue to rise. (bonddad.blogspot.com)
- What to do when yield curve spreads disagree. (capitalspectator.com)
- A recession is worse than inflation. (stayathomemacro.substack.com)
Earlier on Abnormal Returns
- Longform links: the yacht crowd. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: a target-rich environment. (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)
