Quote of the Day
"Focusing on what’s never going to change is more important than trying to anticipate how something might change."
(Morgan Housel)
Markets
- The U.S. has been outperforming international equities for some 15 years. (compoundadvisors.com)
- More industry sectors have regained their 200 day moving average. (allstarcharts.com)
FTX
- The collapse of FTX is a hard reset for the industry. (generalist.com)
- FTX customers have a long road ahead getting their money back. (wsj.com)
- FTX is a tangled web of subsidiaries and investments. (theinformation.com)
- Why the collapse of FTX won't ripple through the broader financial system. (theatlantic.com)
- FTX owns a lot of Bahamian real estate. (theblock.co)
Companies
- Walmart ($WMT) once again has the upper hand on suppliers. (wsj.com)
- Semiconductor inventories have normalized in 2022. (on.ft.com)
- JP Morgan ($JPM) has sidestepped the worst leveraged loans of 2022. (wsj.com)
- Todd Wenning, "Not every brand is a defensible asset." (intrinsicinvesting.com)
States
- Why so many Tennesseans are prevented from voting. (propublica.org)
- In Texas, some two-thirds of the state’s nearly 100 prisons lack air conditioning. (grist.org)
- Californians overwhelmingly voted to ban all flavored tobacco products in the state. (statnews.com)
Policy research
- The effects of Jim Crow have persisted through time. (marginalrevolution.com)
- How substitutable are workers? A grim analysis. (papers.ssrn.com)
- Paid parental leave saves lives. (fatherly.com)
Economy
- The stock market may have already priced in the worst economic news. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Can a business go from 'extreme reliability' to 'unreasonable hospitality'? (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)