Quote of the Day
"Investors must always be on guard for nonsensical claims from partisans who have zero concern for your portfolio. They are playing a different game, and you are collateral damage."
(@TBPInvictus)
Chart of the Day
The traditional Misery Index is down from its 2020 peak but still above pre-pandemic levels.
Big Tech
- Apple's ($AAPL) AI announcement(s) helped add some $200 billion in market cap. (axios.com)
- It's kind of shocking just how big, Big Tech has gotten. (sherwood.news)
Commercial real estate
- Where distressed office building transactions are taking place. (nytimes.com)
- Office CMBS default rates are soaring. (mrzepczynski.blogspot.com)
Apple
- New Apple ($AAPL) features could 'Sherlock' a number of third party apps. (techcrunch.com)
- New features coming to iOS 18, not including AI. (wsj.com)
- The top features coming to MacOS Sequoia. (wired.com)
Russia
- Russia is counting on the West to win its war for it in Ukraine. (snyder.substack.com)
- Russia is putting stolen Ukrainian children up for adoption. (ft.com)
Economy
- Weekly initial unemployment claims are clearly headed higher. (bonddad.blogspot.com)
- Food is no longer a big part of inflation. (econbrowser.com)
- The Misery Index is down from its peak in 2020. (econbrowser.com)
Earlier on Abnormal Returns
- Longform links: the chip war. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: freedom and wealth. (abnormalreturns.com)
- Father time is undefeated: on the impact of cognitive decline on financial outcomes. (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)
