Quote of the Day
"After years like 2022 it’s becoming increasingly popular for people to shift into alternatives and high fee products that will protect a simple stock/bond allocation. But remember that insurance is a satellite asset, not the core asset."
(Cullen Roche)
Chart of the Day
Early retirements surged in the pandemic, but aren’t going back down.
Strategy
- ETFs are a better mousetrap, but they can't turn a bad manager into a good one. (wsj.com)
- Why you should diversify internationally. (humbledollar.com)
- A company moat is no guarantee of good performance. (flyoverstocks.com)
Books
- A look at five new finance books including "The Trading Game" by Gary Stevenson. (axios.com)
- A look at Gary Sernovitz's new novel "Counting House." (msn.com)
- An excerpt from "Private Equity: A Memoir" by Carrie Sun. (wsj.com)
Companies
- Just how important AI is for valuations today. (tomtunguz.com)
- How Dara Khosrowshahi turned Uber ($UBER) around. (ft.com)
- Why CVS ($CVS) and Walgreens ($WAG) are closing stores. (barrons.com)
- Boeing's ($BA) downfall is a wakeup call. (businessinsider.com)
Global
- At least 19,000 Ukrainian children have been spirited away to Russia illegally. (npr.org)
- Using Russian sovereign assets to rebuild Ukraine would be unprecedented. (axios.com)
- Why academic freedoms is under attack in India. (nytimes.com)
- Hong Kong is self-destructing. (msn.com)
Policy
- How GoFundMe became a part of the health care system. (msn.com)
- What explains the difference in hearing loss across populations? (washingtonpost.com)
- More guns make for more violence. (nber.org)
Economy
- The Federal Reserve has all the data in the world, and still gets things wrong. (awealthofcommonsense.com)
- Don't let nominal debt levels scare you. (tker.co)
- 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)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)