Quote of the Day
"Outside of commercial real estate, the behavior of investors and consumers simply has not conformed to the expectations that would have been considered reasonable as recently as a few years ago."
(Joshua Brown)
Chart of the Day
Berkshire Hathaway ($BRK.A) keeps buying more shares in Occidental Petroleum ($OXY). (chart via YCharts)
Diversification
- We are in a 'bear market for diversification.' (thinkadvisor.com)
- What really is the goal of portfolio diversification? (rogersplanning.blogspot.com)
Books
- Insights from "The Price of Time: The Real Story of Interest" by Edward Chancellor. (blas.com)
- A review of Nathaniel Popper's "The Trolls of Wall Street: How the Outcasts and Insurgents are Hacking the Markets." (blockworks.co)
Apple
- Everything Apple ($AAPL) announced at WWDC. (wired.com)
- Apple's ($AAPL) approach to AI is bit of throwing spaghetti against the wall to see what sticks. (wsj.com)
- Why Apple ($AAPL) isn't pushing 'AI' per se. (spyglass.org)
- You are not going to be able to escape AI on your Apple ($AAPL) device. (theatlantic.com)
- Can AI help reboot Siri? (platformer.news)
- What's next for the Vision Pro? (nytimes.com)
Secondaries
- What is the value of a secondary stake in a PE fund purchased at a big discount? (wsj.com)
- A relatively recent FASB rule change allows for marking up the value of secondary stakes. (institutionalinvestor.com)
Retail
- Why retailers are pushing loyalty prorams. (vox.com)
- The world's largest Buc-ee's has opened in Texas. (axios.com)
Economy
- The U.S. economy is increasingly driven by healthcare spending and employment. (ft.com)
- Nursing homes have a staffing problem. (crr.bc.edu)
Earlier on Abnormal Returns
- Research links: problematic concentration. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: true wisdom. (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)
