Quote of the Day
"The truth is, starting with the end in mind is what empowers you to take full advantage of the present."
(Jack Raines)
Chart of the Day

The energy sector led the market last year, this year not so much. (chart via @ycharts)
Markets
- What's the best asset to hold during a recession? (morningstar.com)
- If you invest in stocks there are going to be extended periods of poor performance. (bestinterest.blog)
Companies
- Disney+ ($DIS) shed 4 million subscribers in Q1. (variety.com)
- How fast is Starbucks ($SBUX) growing outside the U.S.? (investmenttalk.co)
- What Google ($GOOGL) has going on in AI. (thereformedbroker.com)
- What's Apple ($AAPL) doing in AI? (fastcompany.com)
Finance
- A profile of the low-profile Citadel Securities CEO Peng Zhao. (bloomberg.com)
- Did Credit Suisse technically default? And what it matters. (ft.com)
- Softbank continues to mark down its Vision Fund portfolio. (news.crunchbase.com)
Future Proof 2023
- The lineup for FutureProof 2023 has been announced. (thereformedbroker.com)
- Why FutureProof is bigger and better this year. (ritholtz.com)
Housing
- The American housing market is locked up due to prior low mortgage rates. (wsj.com)
- Joe Weisenthal and Tracy Alloway talk with Ali Wolf about why higher interest rates have not fixed the housing market. (bloomberg.com)
- These are the biggest mortgage servicing firms in the U.S. (thebasispoint.com)
Global
- How prohibited goods make their way into Russia. (nytimes.com)
- How Ukraine has crowdfunded a fleet of drones. (businessinsider.com)
- There's no end in sight for the war in Ukraine. (foreignaffairs.com)
Economy
- Disinflation is in place, but it doesn't give the Fed room to cut rates. (disciplinefunds.com)
- Initial weekly unemployment claims continue to head higher. (bonddad.blogspot.com)
- Companies are not reluctant to raise consumer prices. (wsj.com)
- The Misery Index keeps coming down. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Longform links: different types of questions. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: paying for the life you want. (abnormalreturns.com)
- Everybody is a creative, whether they acknowledge it or not. (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)