Quote of the Day
"The overriding goal of policymakers should be to keep crypto systemically irrelevant."
(Stephen Cecchetti and Kim Schoenholtz)
Markets
- The U.S. Treasury yield curve is firmly inverted. (axios.com)
- Average mortgage rates dropped nearly 50bp last week. (cnn.com)
- The magazine cover indicator: the U.S. dollar edition. (allstarcharts.com)
Lessons
- Three lessons from the collapse of FTX including 'putting your emotions in check.' (pragcap.com)
- Betting on unknown quantities is the nature of venture capital. (drorpoleg.com)
- Is crypto a solution in search of a problem? (youngmoney.co)
Fund management
- ESG is under pressure, but isn't going away. (economist.com)
- A look at the iMGP DBi Managed Futures ETF ($DBMF). (citywire.com)
Books
- A review of William Cohan's history of GE "Power Failure: The Rise and Fall of an American Icon." (fastcompany.com)
- Five insights from J. Bradfird DeLong's "Slouching Towards Utopia: An Economic History of the Twentieth Century." (nextbigideaclub.com)
- A Q&A with Annie Duke about her new book "Quit: The Power of Knowing When to Walk Way." (davidepstein.substack.com)
Economy
- The Fed needs a new path forward. (ritholtz.com)
- Initial jobless claims are showing a cooling economy. (bonddad.blogspot.com)
- There are a record number of housing units under construction. (calculatedrisk.substack.com)
Earlier on Abnormal Returns
- Longform links: the rise of the influencer. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: a 100% probability event. (abnormalreturns.com)
- Humans have been consuming alcohol for millennia, but people are increasingly saying no. (abnormalreturns.com)
- Life is complicated, your workout doesn't have to be. (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)
