Quote of the Day
“The ETF closure bin is littered with products that had spectacular back tests and then saw their faces ripped-off once out in the wild.”
(Nate Geraci)
Markets
- Joshua Brown, "2022’s volatility has been incredibly unique for this era – we haven’t seen a plus 20% or minus 10% year for the 60/40 stock-bond portfolio since 1975 up until now." (thereformedbroker.com)
- Ben Carlson, "The bond market is confused. The stock market is confused. The consumer is confused. I’m confused. The only people who aren’t confused either don’t understand what’s going on or aren’t paying attention." (awealthofcommonsense.com)
Companies
- Blackrock ($BLK) is joining a bunch of financial firms opening up shop in South Florida. (wsj.com)
- How to read Berkshire Hathaway ($BRK.A) results. (rationalwalk.com)
- Moderna ($MRNA) has plenty of cash to fund its pipeline. (thediff.co)
Startups
- On the value of bring angels onto your cap table with a background in marketing and communications. (hunterwalk.medium.com)
- How to best structure a bridge loan for a venture-backed startup. (avc.com)
- How to design a referral program. (andrewchen.com)
Global
- China's demographic decline is happening faster than previously thought. (spectator.co.uk)
- The European warehouse boom has cooled off. (ft.com)
Economy
- Some anecdotal evidence that the hiring situation in the U.S. is easing a bit. (wsj.com)
- We are looking at the wrong employment data in the U.S. (papers.ssrn.com)
Earlier on Abnormal Returns
- Adviser links: flipped messaging. (abnormalreturns.com)
- Calibrating your work-life balance is no easy feat. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (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)
