Quote of the Day
"An asset you don’t deserve can quickly become a liability."
(Morgan Housel)
Chart of the Day
The U.S. economy has recovered all the pandemic job losses.
Markets
- Crude oil prices are down to February levels. (axios.com)
- Why the crypto market is smaller than reported. (wsj.com)
Startups
- Y Combinator is shrinking it new class of startups. (techcrunch.com)
- Startups are turning to the debt markets while the IPO window is shut. (theinformation.com)
Companies
- Apple's ($AAPL) cash hoard has come down over time. (marketwatch.com)
- Amazon ($AMZN) is buying iRobot ($IRBT). (techcrunch.com)
Finance
- KKR ($KKR) wants to win more IPO business. (wsj.com)
- The CFTC is looking to close down prediction market PredictIt. (rajivsethi.substack.com)
- What would a tax on stock buybacks mean? (marginalrevolution.com)
Stuff
- The value of NFL franchises just keeps going up. (sportico.com)
- Boatsetter is Airbnb ($ABNB) for boats. (news.crunchbase.com)
- On the bear market in luxury watches. (wsj.com)
Economy
- Sam Ro, "The U.S. labor market continues to be very strong." (tker.co)
- At 3.5%, the unemployment rate is at its lowest level since 1969. (calculatedriskblog.com)
- There are really no signs of weakness in the employment market. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Podcast links: long time horizons. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: restaurant problems. (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)
