Quote of the Day
"All managers today are better than managers in the past, but the dispersion of their skill today is narrower. So outperformance is harder to come by."
(Ted Seides)
Markets
- Stocks don't always beat bonds. (morningstar.com)
- A visualization of the top 10 S&P 500 stocks by market cap. (politicalcalculations.blogspot.com)
Strategy
- Bob Seawright, "We will never act with perfect foresight. We will rarely act with decent foresight." (betterletter.substack.com)
- You can't use P/E ratios to value growth stocks. (downtownjoshbrown.com)
- A lot of strategies just aren't worth the hassle. (awealthofcommonsense.com)
Bitcoin
- The spot Bitcoin ETF price war rolls on. (blockworks.co)
- How are the spot Bitcoin ETFs tracking? (blockworks.co)
Finance
- Private equity LPs are getting antsy for their capital back. (finance.yahoo.com)
- Citigroup ($C) is set to cut 20,000 jobs. (finance.yahoo.com)
Pharma
- Five questions facing pharma in 2024 including 'Can anyone challenge Novo and Lilly in obesity?' (biopharmadive.com)
- Arena BioWorks has a different business biotech model. (nytimes.com)
Restaurants
- Casey’s General Stores ($CASY) is the nation's fifth biggest pizza seller. (barrons.com)
- Will reusable coffee cups catch on at Starbucks ($SBUX) and the like? (bbc.com)
- 99% of Americans live near a Mexican restaurant. (axios.com)
Economy
- There is little pressure on producer prices. (bonddad.blogspot.com)
- Service sector employment seems to be re-accelerating. (apolloacademy.com)
- Rate cuts aren't just expected in the U.S. this year. (ft.com)
- Are vibes driving negative media economic sentiment or the other way around? (theatlantic.com)
Earlier on Abnormal Returns
- Podcast links: academic fraud. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: profound distrust. (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)