Quote of the Day
"The media has actually been pretty gentle toward Palihapitiya given the epic stock depreciation of the companies he took public."
(Eric Newcomer)
Chart of the Day
30-year mortgage rates are at a two decade high. (via Freddie Mac)
Rates
- It's hard to overstate the sea change that has occurred with interest rates. (theirrelevantinvestor.com)
- Higher real rates are to blame for the rise in interest rates. (wsj.com)
- The yield curve has flattened a little bit, but remains highly inverted. (axios.com)
Finance
- Multi-strategy hedge funds continue to take mind (and wallet) share. (ft.com)
- Higher interest rates continue to drag down smaller banks. (fastcompany.com)
- How Chamath Palihapitiya, the 'king of SPACs,' got away with it. (newcomer.co)
- Thematic ETFs are seeing outflows. (finance.yahoo.com)
Nvidia
- Nvidia's ($NVDA) profitability is remarkable. (tomtunguz.com)
- What Nvidia investors should learn from the experience of Cisco ($CSCO). (wisdomtree.com)
Companies
- Why Salesforce ($CRM) invested in Hugging Face. (venturebeat.com)
- CVS ($CVS) is getting into the biosimilar business. (engadget.com)
- How the Starbucks ($SBUX) Pumpkin Spice Latte became a profit juggernaut. (finance.yahoo.com)
Housing
- The housing market is bifurcated along new/existing lines. (axios.com)
- How homebuilders are adjusting to higher rates and changing tastes. (bonddad.blogspot.com)
Global
- Sentiment about China's economy is in the tank. (economist.com)
- Canada is doubling down on attracting high-skilled immigrants. (semafor.com)
Economy
- Weekly initial unemployment claims are quiescent. (calculatedriskblog.com)
- Will higher interest rates eventually hit the American economy? (economist.com)
- This is one ugly chart crime. (ft.com)
Earlier on Abnormal Returns
- Longform links: inevitable times of underperformance. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the myths of aging. (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)
