Quote of the Day
"Compounding is a fascination for its possibilities, but let its impossibilities be the warning to investors: we don't know when assets will stop going up, but we know they can't go up at extremely high rates forever."
(Rubin Miller)
Markets
- The global universe of public equities is shrinking. (ft.com)
- Two stocks accounted for a third of the Russell 2000's 5.2% return in Q1. (wsj.com)
- Magnificent Seven earning revisions are slowing. (ft.com)
Strategy
- Rebalancing isn't market timing. (awealthofcommonsense.com)
- Why you should 'diversify your diversifiers.' (rogersplanning.blogspot.com)
FTX
- Behind the scenes, former FTX customers are struggling. (wsj.com)
- How much are FTX customers likely to recover? (economist.com)
Finance
- Leveraged loan market volume boomed in Q1 2024. (axios.com)
- Berkshire Hathaway's ($BRK.A) Geico cut 20% of its jobs last year. (barrons.com)
- Why Costco's ($COST) gold bars are such a hot commodity. (wsj.com)
Fund management
- How the new Hunterbrook Media-Hunterbook Capital model will work. (on.ft.com)
- Why more index fund providers are likely to push proxy voting down to holders. (morningstar.com)
- Buffered ETFs are continuing to gain assets. (on.ft.com)
UK
- If the UK stock market is cheap, why aren't more companies getting snapped up? (advisorperspectives.com)
- Why UK labor looks like a bargain right now. (wsj.com)
Economy
- The March NFP report was 'uniformly positive.' (bonddad.blogspot.com)
- The employment report has been positive for 39 straight months. (calculatedriskblog.com)
- Weekly initial unemployment claims ticked higher. (bonddad.blogspot.com)
- Heavy truck sales ticked down in March. (calculatedriskblog.com)
- Immigration is positive for growth and housing. (calculatedrisk.substack.com)
- Americans are confusing the current economic situation with their hopes for the future. (wsj.com)
FAFSA
- The FAFSA overhaul has made a mess of this college enrollment season. (msn.com)
- Some students are going to make college decisions with incomplete financial data. (npr.org)
- What to do if your FAFSA data is incorrect. (thecollegefinanciallady.com)
Earlier on Abnormal Returns
- Podcast links: the case for value. (abnormalreturns.com)
- Longform links: a great rewiring. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: making bad decisions. (abnormalreturns.com)
- Better investors make fewer decisions. (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)
Mixed media
- Every company eventually ends up in the advertising business. (axios.com)
- Forbes.com shifted users to a parallel site with way more ads. (wsj.com)
- Twitter has added blue check markets for many of its more popular users. (thedailybeast.com)
- Why audience portability is so important for writers. (homewiththearmadillo.blog)