Quote of the Day
"Investing is about planning for and minimizing the impact of mistakes in advance."
(Novel Investor)
Chart of the Day

The 2 year Treasury and Fed Funds rate are now trading in line with each other. (chart via @ycharts)
Strategy
- A look at long term, 10, 20, 30 year, stock market returns. (awealthofcommonsense.com)
- How paradigm shifts happen in markets. (mrzepczynski.blogspot.com)
Finance
- A couple of deals this week highlight a thaw in the IPO market. (cnbc.com)
- How much headway can startups make in the corporate credit card space? (thebasispoint.com)
- Big banks are struck with their trading businesses. (ft.com)
Media
- Nelson Peltz is dropping his fight with Disney ($DIS). (cnbc.com)
- Fox's ($FOX) Tubi streaming service is a hot property. (thewrap.com)
- Showtime has 'Yellowstone cinematic universe' envy. (wsj.com)
- Why variable pricing for movie theater seats shouldn't be all that surprising. (vox.com)
Funds
- It's hard to make the argument for Fidelity's actively managed mutual funds. (morningstar.com)
- What's the business case for 'real' zero fee ETFs? (etf.com)
Work
- The construction industry is facing a secular shortage of workers. (axios.com)
- Manufacturing employment has stopped going down. (washingtonpost.com)
- High child care costs are preventing some people from returning to work. (wsj.com)
- The case for a return to the office. (collabfund.com)
Economy
- Canada is adding jobs across all sectors. (bnnbloomberg.ca)
- Forecasters are ganging up on the yield curve indicator. (axios.com)
- Active housing inventory continues to climb. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Podcast links: an identity crisis. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: an interesting place. (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
- NFL teams are getting so expensive putting them out of reach of individuals. (bloomberg.com)
- The NFL pushes back hard against disability claims by former players. (npr.org)
- Depending on how you watch the Super Bowl, cable, streaming etc., the timing may differ. (wsj.com)
- The NFL doesn't pay halftime music performers. (huddleup.substack.com)