Quote of the Day
“People in their 30s know where the world is going because they’re going to do it. I’m in my 80s so I have no idea.”
(Daniel Kahneman)
Chart of the Day
(allstarcharts.com)Markets
- What will it take for small caps to outperform? (ft.com)
- Apple ($AAPL) is at 28-month lows vs. the S&P 500. (allstarcharts.com)
Crypto
- Why the FTX exchange did not get rebooted. (wsj.com)
- On the prospect for spot Ethereum ETF. (blockworks.co)
Finance
- There's no alpha left in private equity. (linkedin.com)
- A list of the highest earning hedge fund managers of 2023. (institutionalinvestor.com)
Disney
- Bob Iger left Disney ($DIS) on top. His return has been a different story. (hollywoodreporter.com)
- Disney ($DIS) is no longer at war with the state of Florida. (politico.com)
Truth Social
- It's a minor miracle that Trump Media & Technology Group ($DJT) became publicly traded. (semafor.com)
- Making the 'case' for Trump Media & Technology Group ($DJT). (ft.com)
Commercial real estate
- Office vacancy rates are up, but rents are not down. (wsj.com)
- The longer the commute, the lower the return to the office. (worth.com)
Global
- The Dominican Republic is building a wall to deter Haitian migrants. (wsj.com)
- Canada's population is growing, but its social safety net is fraying. (bloomberg.com)
- How Lithuania has welcomed Ukrainian migrants. (reasonstobecheerful.world)
Economy
- Just how tight are financial conditions? (mrzepczynski.blogspot.com)
- The Sahm rule doesn't apply on a state-by-state basis. (bloomberg.com)
- Bill McBride, "In real terms, national house prices are 10.2% above the bubble peak levels." (calculatedriskblog.com)
Earlier on Abnormal Returns
- Personal finance links: a completely personal decision. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: noisy, unreliable data. (abnormalreturns.com)
- Everything has an opportunity cost, everything. (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)