Quote of the Day
"Reading old finance articles makes you feel like the ancient past was no different than today – the opposite feeling you get reading old medical commentary."
(Morgan Housel)
Chart of the Day
The S&P 500 has never experienced a decline this deep with unemployment below 4%.
Small caps
- Small caps are outperforming of late. (allstarcharts.com)
- And valuations are still attractive. (gmo.com)
Strategy
- The past two years help show the agony and ecstasy of stock picking. (awealthofcommonsense.com)
- Joachim Klement, "The people who are committed to sin stock investing are a small minority and are unlikely to shift the consensus away from the ESG investing trend." (klementoninvesting.substack.com)
Crypto
- Leah McGrath Goodman, "Crypto’s abject refusal to die has infuriated many, inspiring no shortage of blistering screeds." (institutionalinvestor.com)
- Are retail investors going to return to crypto? (wsj.com)
- People are removing .eth from their profiles. (theinformation.com)
Companies
- Five myths about Meta ($META) including 'users are fleeing Facebook.' (stratechery.com)
- The FTC is increasingly cracking down on customer data breaches. (nytimes.com)
Global
- Europe's energy crisis is far from over. (economist.com)
- With economic sanctions in place, it's back to the future for the Russian auto industry. (wsj.com)
- Poland is planning to build nuclear power plants. (fortune.com)
Economy
- Three things that are dampening economic pain, including remote work. (theirrelevantinvestor.com)
- Media mentions of recession do tick higher before a recession. (mrzepczynski.blogspot.com)
- How long will we stay in an era of the strengthening dollar? (econbrowser.com)
Earlier on Abnormal Returns
- Adviser links: the paradox of Social Security. (abnormalreturns.com)
- Why rough edges remain in financial markets: people. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone was reading 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)
