Quote of the Day
"(A) third of Americans have lost confidence in our elections. So, on the one hand, we have stronger systems than ever. On the other hand, we have less trust in them than ever."
(Elizabeth Green)
Chart of the Day
The stock market has never been this strong going into a presidential election. (via @RyanDetrick)
Strategy
- Hard work isn't enough. Alpha erodes. (thewaiterspad.com)
- The stock market doesn't care about your feelings. (optimisticallie.com)
- Every year in the stock market, weird stuff is happening below the surface. (awealthofcommonsense.com)
Private credit
- The bigger private credit gets, so do calls for transparency and regulation. (axios.com)
- How private equity does running electric utilities. (klementoninvesting.substack.com)
Venture capital
- A great reminder that unicorn status doesn't guarantee you anything. (pitchbook.com)
- 26 venture capital tips including 'Prove your worth before the term sheet.' (thegeneralist.substack.com)
- Finding a good startup name is only getting harder. (news.crunchbase.com)
Starbucks
- Starbucks ($SBUX) hasn't really had a hit in years. (eater.com)
- Starbucks ($SBUX) is going back to move forward. (sherwood.news)
China
- Home prices are falling in China. (apolloacademy.com)
- China's marriage rate keeps falling. (sherwood.news)
Economy
- Where the U.S. economy stands on Election Day. (axios.com)
- The next President is facing a very different fiscal situation. (bloomberg.com)
- Joe and Tracy talk with Ezra Klein about the political legacy of Bidenomics. (bloomberg.com)
- Don't forget there is a FOMC meeting this week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Adviser links: rolling in rollovers. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (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)
