Quote of the Day
"I like to say that even if you knew the news ahead of time, you couldn’t possibly predict how the market would react. The market responds to a million variables, not just one."
(Michael Batnick)
Markets
- Some data matters more than others for the stock market. (theirrelevantinvestor.com)
- All price trends are headed in the right direction. (capitalspectator.com)
Global
- The FTSE 100 trades around 10x earnings. (economist.com)
- Why Japanese retail investors are notoriously equity-averse. (ft.com)
Strategy
- Historically the stock market recovers to all-time highs, sometimes it just takes time. (fortunesandfrictions.com)
- You can find a historical market analogy to fit any hypothesis. (klementoninvesting.substack.com)
- The case for following price, not pundits. (allstarcharts.com)
Temu
- How Temu is taking on Amazon ($AMZN) on price. (msn.com)
- How Temu found a foothold in America. (vox.com)
Finance
- The boom in music publishing rights increasingly looks like a ZIRP-era phenomenon. (on.ft.com)
- The year in IPOs, visualized. (ft.com)
Sports business
- Why American entrepreneur John Textor may regret his deep dive into international football ownership. (wsj.com)
- How Nascar was able to increase the size of its media rights package. (huddleup.substack.com)
- Lighted par-three golf is the next growth channel for the sport. (perfectputt.beehiiv.com)
Economy
- What cardboard prices are saying about the economy. (wsj.com)
- If anything, weekly initial unemployment claims are trending down, not up. (calculatedriskblog.com)
- Retail sales are slowing. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Longform links: consolidation and shakeout. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: native planting. (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)