Quote of the Day
"Most of us judge stocks and bonds by the day, month or minute which is the equivalent of trying to make a plant grow by watching it."
(Cullen Roche)
Chart of the Day
(spyglass.org)Japan
- The Nikkei 225 has reach an all-time high for the first time since year-end 1989. (axios.com)
- Just a reminder the Nikkei is still below its high on a real basis. (klementoninvesting.substack.com)
ETFs
- Higher short term yield have been a tailwind for the innovative Alpha Architect 1-3 Month Box ETF ($BOXX). (bloomberg.com)
- The ECB isn't crazy about spot Bitcoin ETFs. (ft.com)
Companies
- Cash keeps building up on Berkshire Hathaway's ($BRK.A) balance sheet. (wsj.com)
- New semiconductor facilities are facing some serious speed bumps. (nytimes.com)
- The Apple ($AAPL) Vision Pro is "a great piece of technology. It's not yet a great product." (spyglass.org)
- Is Chipotle ($CMG) pushing too hard on margins? (investmenttalk.co)
AI
- Intel ($INTC) is set to manufacture AI chips for Microsoft ($MSFT). (arstechnica.com)
- We really don't want AI to train on its own output. (msn.com)
- How AI could kill off traffic to certain websites. (wsj.com)
Economy
- Still no sign of an uptick in weekly initial unemployment claims. (bonddad.blogspot.com)
- How lower income households are faring in this economy. (carsongroup.com)
- The case for higher for longer. (apolloacademy.com)
Earlier on Abnormal Returns
- Longform links: the CNBC paradox. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Personal finance links: shaming and blaming. (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)