Quote of the Day
"The pandemic economy will outlast the pandemic."
(Allison Schrager)
Chart of the Day

The yield on the one-year Treasury bill is at its highest level since 2007!
Strategy
- Being bullish on America, doesn't mean dismissing the rest of the world. (awealthofcommonsense.com)
- Why studying the stock market is so fascinating. (dariusforoux.com)
Bonds
- The SEC wants more Treasury trades in a clearinghouse. (wsj.com)
- Using CDs as an alternative to bonds. (compoundadvisors.com)
- Investors are pulling cash from bond funds YTD. (morningstar.com)
Companies
- Apple ($AAPL) is evolving into a different type of company. (mondaynote.com)
- What type of companies are 'Lindy'? (onveston.substack.com)
Venture capital
- Why the Figma acquisition is a big deal. (tomtunguz.com)
- There is still a lot of pent-up capital waiting to be put to work. (bothsidesofthetable.com)
- The Founders Choice ratings have some notable surprises. (newcomer.co)
- The Slack backlash is here. (protocol.com)
Funds
- An investment in a private fund requires a different level of due diligence. (morningstar.com)
- It's hard to find legitimate use cases for single-stock ETFs. (investmentnews.com)
- Don't get too excited by a good year for active managers. (ft.com)
Mortgages
- National mortgage rates are now in excess of 6%. (wsj.com)
- Low mortgage rates are going to keep people in their homes. (housingwire.com)
Economy
- Weekly initial unemployment claims continue to decline. (bonddad.blogspot.com)
- The New York City economy has not fully recovered from the pandemic, jobs-wise. (nytimes.com)
Earlier on Abnormal Returns
- Longform links: an extremely rare occurrence. (abnormalreturns.com)
- Personal finance links: the foundation of personal finance. (abnormalreturns.com)
- Research links: lottery-seeking behavior. (abnormalreturns.com)
- Adviser links: a messy reality. (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)