Quote of the Day
"Performance always comes first, explanations second."
(Joe Wiggins)
Chart of the Day
Alternative manager stocks are feeling the pain YTD. (chart via YCharts)
Markets
- It's been a awhile since the Nasdaq traded below its 200 day moving average. (bilello.blog)
- The last ten years in the stock market visualized. (sherwood.news)
Strategy
- Every correction looks healthy in hindsight. (awealthofcommonsense.com)
- Recessions are something to overcome, not welcome. (ofdollarsanddata.com)
- Corrections, and especially bear markets, never feel good in the moment. (tker.co)
- Big surprises don't prevent us from trying to predict the next one. (behaviouralinvestment.com)
Europe
- Why Europe is taking Trump seriously this time around. (theatlantic.com)
- Europe is going spend defense monies on European weapons. (semafor.com)
- Trump is giving Europe common cause. (wsj.com)
Economy
- Policy uncertainty is bleeding into expectations. (econbrowser.com)
- How higher tariffs would hamper the economy. (fasterplease.substack.com)
- There is a difference between tariff theater and tariff policy. (edgyoptimist.substack.com)
- What's the end game here? (danieldrezner.substack.com)
Baseball
- MLB fast balls just keep getting faster. (wsj.com)
- The Oakland A's are making their way (slowly) to Las Vegas. (sportico.com)
- The 10 best baseball movies of all-time, including 'Moneyball.' (hollywoodreporter.com)
Earlier on Abnormal Returns
- Research links: elevators and escalators. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: estate uncertainty. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should be. (abnormalreturns.com)
