Quote of the Day
"Nobody is incentivised to make long-term investment decisions because doing so exposes you to profound personal and corporate risks."
(Joe Wiggins)
Chart of the Day

Bond investors have experienced a lost ‘half decade.’ (chart via @ycharts)
Strategy
- Sometimes your best trade is a loss. (allstarcharts.com)
- The all-weather portfolio has not fared well in 2022. (blog.validea.com)
Companies
- Apple ($AAPL) is shifting more production out of China. (9to5mac.com)
- How Microsoft ($MSFT) could bring VR to the enterprise. (stratechery.com)
- A Labor Department ruling could make it easier for gig workers to get classified as employees. (axios.com)
Finance
- Europe's largest private equity firm, CVC Capital Partners, is going public. (on.ft.com)
- Startups are getting desperate to raise capital without doing a downround. (theinformation.com)
Economy
- Producer price increases are easing. (bonddad.blogspot.com)
- Apartment demand has fallen off the table. (axios.com)
- In the 1980s it took two recessions to break the back of inflation. (awealthofcommonsense.com)
Earlier on Abnormal Returns
- Personal finance links: assigning blame. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: longer eras. (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)