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BEA: Real GDP decreased at 0.3% Annualized Rate in Q1

Calculated Risk

These movements were partly offset by increases in investment, consumer spending, and exports. Compared to the fourth quarter, the downturn in real GDP in the first quarter reflected an upturn in imports, a deceleration in consumer spending, and a downturn in government spending that were partly offset by upturns in investment and exports.

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Dollars Are For Spending & Investing, Not Saving

The Big Picture

“I need the US Dollar to be a store of value between the time I make it until I spend it, invest it, pay my taxes with it, or give it away. To be more precise, I want to discuss the type of chart that reflects a fundamental misunderstanding of the nature of money, currency, spending, investing, and taxes. It does that splendidly.”

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Producer Prices Rise 0.3 Percent in November Led by Services and Food

Mish Talk

Prices for final demand less foods, energy, and trade services moved up 0.3 The index for final demand less foods, energy, and trade services increased 4.9 percent increase in prices for final demand foods was a major factor in the November advance. The index for final demand goods less foods and energy moved up 0.3

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Rabbithole: What Do People Get Wrong About Money?

The Big Picture

David Nadig, “ Rabbithole ” March 7, 2025 I had fun chatting with Dave Nadig about philosophy, behavior, and investing ( video after the jump). Question : “ Barry, your book How Not to Invest dissects numerous financial misconceptions. But let’s set aside markets and investing strategies entirely.

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Friday links: infrequent revolutions

Abnormal Returns

axios.com) How indexing came to dominate the investment business. ritholtz.com) 15 investing principles including 'I believe managing one’s behavior is more important than managing one’s investments.' washingtonpost.com) Food Ghost kitchens were hot. nytimes.com) How Wonder hopes to disrupt food delivery.

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BEA: Real GDP increased at 2.8% Annualized Rate in Q3

Calculated Risk

Within services, the leading contributors were health care (led by outpatient services) as well as food services and accommodations. Compared to the second quarter, the deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory investment and a larger decrease in residential fixed investment.

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Transcript: Ron Shaich, Au Bon Pain, Panera Bread & CAVA

The Big Picture

The guy is a brilliant operator, one of the best performing publicly traded CEOs in history, at least in the, in the food and consumer services sector. You, you go to business school, you didn’t know what an investment banker was. And I love food. One of their big firms is Kava Fast Mediterranean cuisine. The election day.

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