Quote of the Day
"Unspent money buys something intangible but valuable: freedom, independence, autonomy, and control over your time. Every dollar of savings buys a claim check on the future."
(Morgan Housel)
Chart of the Day
How much is AI driving the stock prices of the big five tech companies? (chart via YCharts)
Markets
- Some signs of internal weakness in the stock market. (allstarcharts.com)
- These 15 funds destroyed the most shareholder value over the past decade. (morningstar.com)
Strategy
- Investing is too complicated to be boiled down to a single indicator. (theirrelevantinvestor.com)
- How to get more tax-efficient bond exposure. (wsj.com)
- Why investors love dividends. (disciplinefunds.com)
Policy
- Why criminalizing ESG investing is ridiculous. (morningstar.com)
- These GOP governors are turning down federal funds for children food aid this summer. (bloomberg.com)
- Why Medicare and the FDA have different standards of care. (statnews.com)
- The Trump tariffs provided little economic benefit. (papers.ssrn.com)
Global
- Why central banks, including the Fed, are reluctant to declare all-clear on inflation. (ft.com)
- Noah Smith, "We need to stop thinking of Germany, the UK, Japan, etc. as our old rivals, and start thinking of them as our indispensable partners." (noahpinion.blog)
- Russia's economy is holding up better than expected. (ft.com)
- Demographics are going to drive geopolitics. (nytimes.com)
Economy
- The economy could soften without tipping into a recession. (tker.co)
- Income growth is running strong. (carsongroup.com)
- Some alternative business cycle indicators. (econbrowser.com)
- The U.S. Treasury is going to have to sell a lot of debt this year. (apolloacademy.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (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)