Quote of the Day
"As with so many aspects of investing, determining the proper amount of leverage has to be a function of optimizing, not maximizing."
(Howard Marks)
Chart of the Day
Used car prices are down 14% year-over-year. (chart via @charliebilello)
Markets
- Picking 30 companies for the Dow Jones Industrial Average isn't easy in a dynamic economy. (wsj.com)
- The stock market doesn't love high inflation. (klementoninvesting.substack.com)
Apple
- Apple ($AAPL) is in a tough spot. (om.co)
- Apple ($AAPL) may be late in AI, but don't count them out. (barrons.com)
- If Apple ($AAPL) is no longer the world's biggest brand, what is? (newconsumer.com)
- An end of an era for Apple ($AAPL). (spyglass.org)
Companies
- T-Mobile ($TMUS) and Verizon ($VZ) want to carve up US Cellular. (wsj.com)
- Is Southwest ($LUV) losing what made it unique? (fastcompany.com)
Ukraine
- Why Ukraine should continue to strike Russian refineries. (foreignaffairs.com)
- Russia keeps pulling material from storage. (econbrowser.com)
Economy
- Don't train real-time models with revised data. (econbrowser.com)
- Why the Fed fears a liquidity crisis. (mrzepczynski.blogspot.com)
Earlier on Abnormal Returns
- Podcast links: being happier at work. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: embracing play. (abnormalreturns.com)