Quote of the Day
"Your brain doesn’t want stuff. It doesn’t even want new stuff. It wants to engage in the process and anticipation of getting new stuff."
(Morgan Housel)
Chart of the Day

It’s a good time for companies with more international revenues.
Markets
- The cannabis industry has sat out the 2023 market rally. (toddharrison.substack.com)
- Why it's not likely worth your time trying to eke out returns in dying industries. (rationalwalk.com)
- In praise of not tinkering with your portfolio. (mutualfundobserver.com)
Apple
- The Apple ($AAPL) iPad is having its moment. (macworld.com)
- Why Apple ($AAPL) devices keep erroneously calling 911. (nytimes.com)
- People are interacting less and less with voice assistants. (bbc.com)
Economy
- The January NFP showed a big jump in payrolls. (calculatedriskblog.com)
- Let's take a moment to celebrate the strong jobs economy. (stayathomemacro.substack.com)
- Covid is fading as an explainer for the U.S. economy. (axios.com)
- Why restaurants are still having a hard time finding workers. (washingtonpost.com)
Earlier on Abnormal Returns
- Podcast links: turning the table. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: a source of envy. (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)
Mixed media
- Ted Goia, "My conclusion isn’t just that ChatGPT is another con game—it’s the biggest one of them all." (tedgioia.substack.com)
- ChatGPT generates words, not necessarily facts. (theconversation.com)
- Why new technologies, like ChatGPT, end up adding work, instead of replacing it. (theatlantic.com)
- When it comes to generative AI, most people don't care about plagiarism. (veryfineday.substack.com)