Quote of the Day
"Between streaming services, social media, and other apps, we have more entertainment competing for our time than ever before. Finance is just a part of it."
(Jared Dillian)
Chart of the Day

The inverted yield curve depends on how you look at it. (chart via FRED)
Strategy
- Five real investing lessons from Warren Buffett's career. (realreturns.blog)
- The 60/40 portfolio never went away. (ritholtz.com)
- Is gold worth the headache? (savantwealth.com)
- Know what you own. (morningstar.com)
Companies
- Netflix ($NFLX) is phasing out its DVD-by-mail business. (thestreamable.com)
- Did Meta ($META) kill the link-in-bio business? (wired.com)
- Reddit wants to get paid for providing data to train AI models. (nytimes.com)
Finance
- How boring should banks be? (semafor.com)
- How exposed are regional banks to problematic commercial real estate loans? (ft.com)
- Rising CRE loan defaults could spook markets. (oaktreecapital.com)
- Startup Tellus is not a bank. (barrons.com)
Economy
- The price of one-year CDS on US Treasuries have spiked due to debt limit drama. (econbrowser.com)
- Demographics are helping hold up housing prices. (awealthofcommonsense.com)
Earlier on Abnormal Returns
- Personal finance links: a regretful life. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: upended expectations. (abnormalreturns.com)
- Ramit Sethi teaches you how to spend money. (abnormalreturns.com)
- Just in time for tax day, a custom indexing linkfest! (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)