Quote of the Day
"The risk inherent in not taking enough risk is very real. Individual investors who eschew risk may end up with a return that is insufficient to support their cost of living. And professional investors who take too little risk may fail to keep up with their clients’ expectations or their benchmarks."
(Howard Marks)
Chart of the Day
(sherwood.news)Markets
- TIPS are on sale. Time to buy. (morningstar.com)
- Two reasons why yields are higher this year. (carsongroup.com)
- The stock-bond correlation has flipped positive. (mrzepczynski.blogspot.com)
Books
- Why you should read Rob Copeland's "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend." (advisorperspectives.com)
- A review of "Enrich Your Future: The Keys to Successful Investing" by Larry Swedroe. (blogs.cfainstitute.org)
- A preview of Dan Davies' new book "The Unaccountability Machine: Why Big Systems Make Terrible Decisions – and How The World Lost its Mind." (netinterest.co)
Tesla
- The Cybertruck looks like a bust. (sherwood.news)
- Why the vibes around Tesla ($TSLA) are so bad. (unherd.com)
- Tesla ($TSLA) needs a full-time CEO. (theinformation.com)
Startups
- Good luck coming up with the NAV for the Destiny Tech100 ($DXYZ). (morningstar.com)
- VC are shunning cannabis startups. (news.crunchbase.com)
Good news
- Five things to be optimistic about including 'Crime is going down now.' (noahpinion.blog)
- Some good news this week including accelerated geothermal energy permitting. (notboring.co)
Economy
- The rapidity of the rise in prices makes it feel all the worse. (awealthofcommonsense.com)
- The case for a Fed rate cut this year. (ft.com)
- The bifurcation of the new and existing home markets continues. (bonddad.blogspot.com)
- The apartment market is still soft. (calculatedrisk.substack.com)
Earlier on Abnormal Returns
- Podcast links: in search of financial security. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: an age of misinformation. (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)