Quote of the Day
"The irony in this loss of trust is that the ultimate driver is tech itself. What made the Silicon Valley Bank run unique was (1) the ease with which its customers could execute withdrawals and (2) the speed with which news of Silicon Valley Bank’s impending demise spread."
(Ben Thompson)
Chart of the Day

Treasury rates have reacted strongly to this weekend’s events. (chart via @ycharts)
Strategy
- Chasing past returns often ends badly. (bilello.blog)
- Why you always seem to sell your stocks at the bottom. (dariusforoux.com)
Finance
- The $250,000 FDIC cap has been effectively lifted. (bonddad.blogspot.com)
- We still don't know everything about the downfall of Silicon Valley Bank. (ritholtz.com)
- The reversal in interest rates could relieve some pressure on bank portfolios. (mailchi.mp)
- Why more assets are going to flow to systemically important banks. (marginalrevolution.com)
- Why Signature Bank went under. (nytimes.com)
Venture capital
- What founders should be focused on now. (tomtunguz.com)
- Cash management wasn't a priority for startups. Now it is. (wsj.com)
- Who is going to replace SVB for the venture community? (ft.com)
Economy
- In a country as big as the U.S., local economies matter. (wealthmanagement.com)
- There are now more women in the workforce than pre-pandemic. (axios.com)
Earlier on Abnormal Returns
- Adviser links: holistic financial guidance. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks 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)