Quote of the Day
"In short, private equity funds are difficult to assess, opaque and expensive. These characteristics, and some of the funds’ troubling economic effects, mean that, at a minimum, they need to be handled with great care."
(Jeff Sommer)
Chart of the Day
The stock market is entering a historically fallow period, seasonality-wise.
Strategy
- Why you can't hedge inflation in the short run. (whitecoatinvestor.com)
- A Q&A with William Bernstein author of "The Four Pillars of Investing." (wsj.com)
- Don't confuse collectibles with investments. (investmentnews.com)
Apple
- Services and wearables are the standouts for Apple ($AAPL). (sixcolors.com)
- Why Apple ($AAPL) is shifting iPhone production to India. (asia.nikkei.com)
- Apple's new Vision Pro is going to need content. (theverge.com)
Companies
- Netflix ($NFLX) changed how content is made. Hence the Hollywood strikes. (theatlantic.com)
- Cold drinks make up some 75% of Starbucks ($SBUX) sales. (qsrmagazine.com)
- Do you really want to get your healthcare from Dollar General ($DG)? (prospect.org)
- Private equity, i.e. KKR ($KKR) is circling publisher Simon & Schuster. (wsj.com)
Reading
- Morgan Housel, "A good reading filter is more art than science. You’ll have to find one that works for you." (collabfund.com)
- Simon Sarris, "You should start many books and complete few. You should never feel beholden to completing them, there are simply too many worthwhile works to read." (map.simonsarris.com)
Economy
- The July NFP report showed a 187k jump in jobs and a 3.5% unemployment rate. (calculatedriskblog.com)
- There is continued deceleration in the jobs market. (bonddad.blogspot.com)
- The American economy is normalizing. (carsongroup.com)
- The U.S. economy has reached a new, post-pandemic phase. (ft.com)
Earlier on Abnormal Returns
- Podcast links: having better conversations. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the case for optimism. (abnormalreturns.com)
- Make a plan for your stuff, before someone else has to. (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)
