Quote of the Day
"Don’t pay attention to anyone who claims to know when it is time to get in or out of the market, no matter how highly regarded they are or how credible their advice appears."
(Robert Huebscher)
Chart of the Day
Consumer discretionary stocks are struggling YTD. (chart via YCharts)
Markets
- Sometimes you end up buying the top. (tker.co)
- The stock market is always changing. (awealthofcommonsense.com)
- Markets hate geopolitical risks. (mrzepczynski.blogspot.com)
Strategy
- Options are expensive form of insurance. (disciplinefunds.com)
- How to build an indexed portfolio. (humbledollar.com)
Companies
- Robinhood ($HOOD) is pressing their advantage with a push into sports betting. (howardlindzon.com)
- StubHub has filed for an IPO. (axios.com)
- How side letters work. (cashandcarried.substack.com)
DOGE
- Six theories of DOGE. (cato.org)
- Who actually runs DOGE. (nytimes.com)
- Even in agencies not yet targeted, the business of government has ground to a halt. (npr.org)
- More Americans are going to have to visit SSA offices to gain benefits. (thinkadvisor.com)
- Even private weather forecasters don't want to see cuts at NOAA. (axios.com)
Trump
- Don Moynihan, "The Trump presidency is, as much as anything, a project of purging and erasing large parts of America, of people, ideas, capacities, and knowledge." (donmoynihan.substack.com)
- Why Trump keeps reaching for increasingly obscure, outdated pretexts to gain power. (nytimes.com)
- Why does the White House need Starlink? PS, it doesn't. (theverge.com)
Economy
- Stagflation is historically kind of rare. (carsongroup.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (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)
