Quote of the Day
"My main takeaway from the story is how it’s never too late to start something new. [Jim] Simons gave up his academic career at 40 and became arguably the greatest investor ever."
(Trung Phan)
Markets
- Bull markets are only easy in retrospect. (downtownjoshbrown.com)
- Last year's stock market performance doesn't tell you much after this year. (awealthofcommonsense.com)
- The stock market is not the economy. (humbledollar.com)
Companies
- It was a busy week in AI. (bigtechnology.com)
- Reddit ($RDDT) is going to license data to OpenAI. (sherwood.news)
- First Solar ($FSLR) is now the world's most valuable solar panel manufacturer. (finance.yahoo.com)
- The dream of streaming is dead. (theatlantic.com)
Fund management
- Incoming Vanguard CEO Salim Ramji, "As an outsider, I’m going to approach their mission with the zeal of a convert." (barrons.com)
- Does Blackrock ($BLK) have a succession problem? (nytimes.com)
Policy
- America is made up of immigrants, but ends up resenting them. (wapo.st)
- Infrastructure spending is up, but Americans aren't impressed. (bloomberg.com)
- America's two parties have turned against free trade. (theatlantic.com)
- Why the looming expiration of the TCJA is a big deal. (semafor.com)
- The administration has does a good job trading oil. (economist.com)
Economy
- Why is labor continuing to decline as a percentage of the economy? (bloomberg.com)
- You can thank rising hospital costs, in part, for elevated inflation. (wsj.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last 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)
Mixed media
- Stephen Friedman, "As your start out, know that not every job will be filled with meaning or happiness all the time. Also know that your day job doesn’t have to fulfill your purpose. Both things are okay." (hbr.org)
- Companies have given up on getting people back in the office on Fridays. (sherwood.news)
- How to make an introduction. (om.co)
