Quote of the Day
"Years of evidence in a variety of market environments confirms the wisdom of indexing."
(Burton Malkiel)
Chart of the Day

The markets still say the Fed will hit the pause button. (chart via @ycharts)
Markets
- TIPS are on sale. (morningstar.com)
- The rise in real interest rates is stunning. (econbrowser.com)
- Daily options volume is soaring as traders go whole hog. (wsj.com)
Strategy
- Bull markets have four distinct stages. (ritholtz.com)
- On the power of keeping an investing journal. (rationalwalk.com)
- What the life of Napoleon can teach us about investing. (tonyisola.com)
- Investing inspiration from 'blue zone' habits. (blog.validea.com)
- Great investors have a checklist. (mrzepczynski.blogspot.com)
Finance
- Arm Holdings ($ARM) shows the way forward for the IPO market. (ft.com)
- The UFC and WWE are now a part of TKO Group Holdings ($TKO). (wsj.com)
- Databricks just raised fresh capital at a $43 billion valuation. (axios.com)
Apple
- The seven biggest Apple ($AAPL) announcements including the end of the mute button. (theverge.com)
- How iPhone pricing has evolved over time. (asymco.com)
- There's no such thing as a carbon neutral smartwatch, i.e. Apple Watch. (wired.com)
- Apple ($AAPL) wants you to buy more iCloud storage. (wired.com)
- What is USB-C and why it matters? (theconversation.com)
Instacart
- Instacart needs to keep its grocery partners happy. (wsj.com)
- Instacart pulled the advertising rabbit out of its hat. Now it needs to keep it up. (nytimes.com)
- What is making (and losing) money on the eventual Instacart IPO. (theinformation.com)
Disney-Charter
- The Disney-Charter deal shows the bundle is dying with streaming on the rise. (nytimes.com)
- How consumers won in the Disney-Charter deal. (stratechery.com)
- Tertiary cable networks are going by the wayside. (wsj.com)
Inflation
- Falling commodity prices are no longer an inflation tailwind. (bonddad.blogspot.com)
- Rising commodity prices are fighting it out with decelerating shelter effects. (disciplinefunds.com)
Economy
- It's still hard to see a recession on the horizon. (capitalspectator.com)
- How close are we to the Sahm Rule triggering? (bonddad.blogspot.com)
- The resumption of student loan repayments will hit the economy. (economist.com)
- Five insights from Felix Salmon's "The Phoenix Economy: Work, Life, and Money in the New Not Normal." (nextbigideaclub.com)
Earlier on Abnormal Returns
- Longform links: the power of focus. (abnormalreturns.com)
- Personal finance links: living in the future. (abnormalreturns.com)
- Research links: correlation concerns (abnormalreturns.com)
- Adviser links: slow to change. (abnormalreturns.com)
- The return on hassle is a real thing. (abnormalreturns.com)
- The question with emerging market equities is if, not when. (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)