Quote of the Day
"What we need isn’t an everything app. It’s an everything device, with small focused apps for features."
(John Gruber)
Markets
- 2022 has been unusual with big stock AND bond drawdowns. (theirrelevantinvestor.com)
- Mortgage rates are nothing if not volatile. (housingbrief.com)
Strategy
- Cullen Roche, "The basic difference between a secular bear and a cyclical bear is that the secular bear is confirmed by a real underlying economic issue that persists and hurts corporate performance for a sustained period of time." (pragcap.com)
- Ben Carlson, "Timing the bond market is probably easier than timing the stock market but that doesn’t necessarily mean it’s a slam dunk." (awealthofcommonsense.com)
- Twitter ($TWTR) rightfully doesn't trust Elon Musk to close on time. (arstechnica.com)
- Elon Musk is going to regret buying Twitter ($TWTR). (newrepublic.com)
Cannabis
- President Biden has pardoned all federal simple marijuana possession offenses. (arstechnica.com)
- David A. Graham, "Joe Biden is an unlikely stoner hero." (theatlantic.com)
- Cannabis companies got a (temporary) boost from Biden's move. (barrons.com)
Earlier on Abnormal Returns
- Podcast links: the power of psychology. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: ghostly hollowness. (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)
Economy
- The September NFP report showed a 263k rise in payrolls and a 3.5% unemployment rate. (calculatedriskblog.com)
- More signs that the economy is decelerating. (bonddad.blogspot.com)
