Quote of the Day
"Selling cars is a hard business. Toyota, VW and others will not gleefully cede market share. Tesla has to keep refreshing and expanding its product line just to stand still; and economic realities get in the way of all product roadmaps for all manufacturers, even Tesla."
(Drew Dickson)
Chart of the Day
This jobs recovery is different than the prior two. (via @IrvingSwisher)
Strategy
- The stock market is almost always in a drawdown. (awealthofcommonsense.com)
- Which of these three investment personalities (loner, follower, or zombie) do you possess? (morningstar.com)
Companies
- Apple ($AAPL) continues to grow services revenue, now up to 20% of sales. (sixcolors.com)
- Tech companies are going to start ramping up their AI spending. (bloomberg.com)
- How Layoffs.fyi spawned a new business. (nytimes.com)
Banking
- How the banking crisis is affecting fintech startups. (semafor.com)
- Regional banks have long term profitability issues but customers aren't panicking. (ft.com)
- It's hard to see how we don't have fewer, bigger banks in the future. (axios.com)
Economy
- The April NFP report showed continued labor market strength. (calculatedriskblog.com)
- Previous months have been revised lower. (bonddad.blogspot.com)
- Analysts have been underestimating jobs gains for a year now. (ft.com)
Earlier on Abnormal Returns
- Podcast links: market narratives. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: how our minds work. (abnormalreturns.com)
- A list of the best investing blogs of 2023, including Abnormal Returns. (thecollegeinvestor.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)
