MarketsThere are four types of bear markets including whether it comes along with a recession. (compoundadvisors.com)Google searches for ‘stagflation’ have spiked higher. (mrzepczynski.blogspot.com)Interest rates have stopped going up, for now. (capitalspectator.com)The market has already discounted a lot of bad news. (theirrelevantinvestor.com)CompaniesHow the bear market could set off a new round of media company consolidation. (variety.com)Om Malik, “Whatever it is, Twitter is not a social network. It isn’t even social media — it is a personalized propaganda network.” (om.co)StartupsVenture capital funding in London is on the rise. (bloomberg.com)Sequoia Capital is warning portfolio companies about hard times ahead. (theinformation.com)Institutional Why LPs often feel pressured by GPs invest in new PE funds. (institutionalinvestor.com)Institutional interest in farmland keeps growing. (businessofbusiness…. [Read More...]

DiversitySome evidence that gender diversity helps fund performance. (papers.ssrn.com)What role does race play in manager selection? (alphaarchitect.com)IndexingWhat happens when stocks are added/deleted from the S&P 500? (papers.ssrn.com)Managing a passive fund is not a push button exercise. (nber.org)Market timingWhy 2022 has been unusual for anyone doing tactical asset allocation. (allocatesmartly.com)More evidence that trying to forecast the market is futile. (klementoninvesting.substack.com)ResearchTime series momentum works but can go through long periods of underpeformance. (alphaarchitect.com)Low-risk stocks earn their outperformance during bear markets. (robeco.com)Why value investors would do well to look overseas. (alphaarchitect.com)How companies with intangible assets react to higher interest rates. (klementoninvesting.substack.com)Flows matter over the short run. (blog.validea.com)How factors are defined matter. (quantdare.com) [Read More...]

StrategyHow not to panic. (ofdollarsanddata.com)This is the problem with market timing. (fortunesandfrictions.com)FinanceHow the drop in retail trading is putting pressure on fintechs. (protocol.com)FTX is reportedly looking to buy a stock trading startup. (blockworks.co)StartupsA profile of Mexican full-stack car marketplace, Kavak. (readthegeneralist.com)What happens when a startup copies another startup’s business model? (techcrunch.com)ESGHow things are playing out at ExxonMobil ($XOM) post-proxy fight with Engine No. 1. (ft.com)If a fund manager says they do ESG research, then they actually have to do it. (morningstar.com)WorkSabbaticals help move work away from the center of your life. (theatlantic.com)A great story of a successful career change. (efinancialcareers.co.uk)How we got work all wrong. (lauriesantos.bulletin.com)EconomyNew home sales dropped sharply in April. (calculatedrisk…. [Read More...]

MarketsTwo extreme market scenarios for the rest of 2022. (ritholtz.com)Market media hype was blaring last week. (humbledollar.com)CompaniesApple ($AAPL) wants to shift more production out of China. (wsj.com)Why more industrial companies are investing outside of their core business. (washingtonpost.com)Klarna is laying off 10% of its workforce. (theblockcrypto.com)MediaWarner Bros. Discover ($WBD) is poised for success. (stratechery.com)How much revenue could Netflix ($NFLX) generate from an ad-supported tier? (theinformation.com)What does Warren Buffett see in Paramount Global ($PARA)? (variety.com)There’s nothing magic about Netflix’s ($NFLX) much vaunted algorithm. (entertainmentstrategyguy.com)FinanceA look at how Morgan Stanley ($MS) is planning to enter the ETF space. (investmentnews.com)Why you need to look inside any ETF you buy, especially when it comes to ESG. (etftrends.com)Earlier on Abnormal ReturnsAdviser … [Read More...]

MarketsThe worst years in the U.S. stock market have historically led to good future returns. (awealthofcommonsense.com)Why the bond bear market may already be over. (pragcap.com)StrategyAn eight-step plan for dealing with a bear market including ‘Check your expectations.’ (morningstar.com)Seven questions about the economy and stock market including ‘How will rapidly rising mortgage rates impact housing prices?’ (awealthofcommonsense.com)CryptoWhy this cryptocurrency crash is different. (theatlantic.com)The Ethereum network is getting closer to a big overhaul. (fortune.com)It looks like crypto has its own insider selling problem. (investmentnews.com)CompaniesWhy the downturn could enhance the power of Big Tech. (nytimes.com)How inflation affects companies differently. (aswathdamodaran.blogspot.com)Where Peloton ($PTON) went wrong: assuming the good times would last. (wsj.com)Tesla ($TSLA) has more problems … [Read More...]

AutosCar dealerships are shrinking. (wired.com)The NHTSA estimates that 2021 was the worst year for traffic fatalities since 2005. (autoblog.com)What can be done to get drivers to slow down? (nytimes.com)How ride-sharing changed America’s cities. (slate.com)TransportWatercraft and snowmobiles are getting electrified. (nytimes.com)Drones are turning into personal flying machines. (wired.com)EnergyEurope is reorienting toward LNG imports. (ft.com)Europe is planning more offshore wind projects. (protocol.com)A look at startups that are trying widen access to geothermal energy. (fasterplease.substack.com)Floating solar panels make sense, but there is a catch. (fastcompany.com)The energy transition requires investment today. (thetycoonist.com)DroughtThe Western drought is worse than you think. (hcn.org)How the risk of wildfire is set to increase across much of the U.S. (npr.org)The Colorado River is … [Read More...]

MarketsOutside of horrible sentiment, there’s really very little good market news. (theirrelevantinvestor.com)Trading on macro is a great way to get crushed. (neckar.substack.com)DCABen Carlson, “Dollar cost averaging doesn’t make those emotions go away but it takes them out of the investment process.” (awealthofcommonsense.com)How value averaging differs from dollar cost averaging. (wsj.com)StrategyMaking the case for swapping core fixed income for alternatives. (barrons.com)More evidence that opportunities to generate alpha are shrinking. (evidenceinvestor.com)Successful investing is learning how to be wrong. (mrzepczynski.blogspot.com)StartupsWhat YC is telling its founders about the current environment. (techcrunch.com)$100 million venture rounds are in decline. (news.crunchbase.com)GlobalEurope’s recent IPOs are in free fall, as well. (news.crunchbase.com)Why the U.S. dollar is so strong. (econbrowser.com)EconomyThe … [Read More...]

BooksAn excerpt from Seth Stephens-Davidowitz’s forthcoming book, “Don’t Trust Your Gut: Using Data to Get What You Really Want in Life.” (wired.com)An excerpt from Jody Rosen’s “Two Wheels Good: The History and Mystery of the Bicycle.” (theatlantic.com)MediaDick Wolf dramas, like ‘Law & Order,’ dominate prime time television. (variety.com)Once-hot Cameo is now showing signs of slowing. (theinformation.com)Who owns Albert Einstein’s image and likeness and how much revenue does it generate? (theguardian.com)OnlyFans accounts have become big businesses with full-time staffs. (nytimes.com)ScienceThe reproducibility crisis is due in part to the fact that randomness is irreducible. (arstechnica.com)Domestic cats are an environmental disaster. (hakaimagazine.com)HealthPeople have moved on from Covid, but the U.S. health care system was left … [Read More...]

MarketsHow much do real yields matter for stocks? (morningstar.com)Big drops in consumer staples stocks is not a sign of a healthy market. (priceactionlab.com)The bear market is here for inexperienced investors. (nytimes.com)StrategyTen ways to deal with the current bear market including ‘Begin your plan by acknowledging you are venturing into the unknown.’ (ritholtz.com)The 60/40 portfolio is having a rough time of it. (ft.com)Is the Chinese stock market ‘uninvestible’ or simply ‘unanalysable’? (economist.com)CryptoFTX is launching zero-commission stock trading. (theblockcrypto.com)What is going to happen to all the crypto marketing efforts? (gq.com)Crypto skeptics are having their day in the sun. (theatlantic.com)A look at the business of Bitcoin mining. (paulbutler.org)StreamingCan Disney ($DIS) avoid Netflix’s ($NLFX) mistakes? (variety.com)Even long-standing subscribers … [Read More...]

MarketsSome very good reasons why consumer (and investor) sentiment is in the dumps. (theirrelevantinvestor.com)Information hygiene is crucial in a bear market. (ritholtz.com)Venture capitalVCs and founders are going to have to unlearn some lessons. (howardlindzon.com)Andreessen Horowitz has raised a $600 million fund to invest in games. (venturebeat.com)Some things that founders should re-focus on at this time. (medium.com)Elite schools still account for the most startup founders. (news.crunchbase.com)Fund managementThe end of falling rates is going to put big managers like Pimco to the test. (ft.com)Vanguard is struggling with their info systems. (etf.com)EconomyGasoline is now more than $4 a gallon in all 50 states. (cbsnews.com)Housing is set to be a net positive for the economy over the coming year. (bonddad.blogspot…. [Read More...]

Active managementPutting a dollar value on the opportunity cost from investing in equity mutual funds. (papers.ssrn.com)Active share doesn’t tell us much about future performance. (evidenceinvestor.com)C-suiteHow female CFOs are viewed/treated differently. (alphaarchitect.com)Pay attention to shares that insiders continue to hold. (alphaarchitect.com)How company management can affect shareholder value via capital allocation decisions. (morganstanley.com)ResearchSuccessful market timing is pretty much indistinguishable from luck. (ofdollarsanddata.com)The math behind leveraged ETFs and why they are not suitable for long holding periods. (moontowermeta.com)The case for equal-weighting a large cap value strategy. (advisorperspectives.com)Does excluding super-expensive stocks affect momentum strategy returns? (alphaarchitect.com)The slope of the yield curve around the world matters for U.S. recessions. (papers.ssrn.com)Investors need to get paid to … [Read More...]

MarketsLong term Treasuries are not the best choice to offset equity market risk (morningstar.com)How the stock market has performed, post high VIX levels. (compoundadvisors.com)StrategySix constructive things you can do during a bear market, including tax-loss harvesting. (blairbellecurve.com)Two things to consider before making any investment. (behaviouralinvestment.com)BitcoinDoes Bitcoin really belong in 401(k) plans? (rogerlowenstein.substack.com)A Q&A with Ric Edelman author of the new book “The Truth About Crypto: A Practical, Easy-to-Understand Guide to Blockchain, Bitcoin, NFTs, and other Digital Assets.” (thinkadvisor.com)FinanceWhy the SPAC boom ended as quickly as it started. (institutionalinvestor.com)Deutsche Bank has suffered through a scandal-filled decade. (ft.com)StreamingBerkshire Hathaway ($BRK.A) has purchased a big stake in Paramount Global ($PARA). (barrons.com)How Disney ($DIS) … [Read More...]

MarketsWhat’s the difference between a secular and cyclical bull market? (ritholtz.com)Some things you see in every bear market including someone who claims to have called it. (awealthofcommonsense.com)StrategyVishal Khandelwal, “When it comes to investing, it is a good idea to always make decisions keeping in mind the next best opportunity.” (safalniveshak.com)Brett Steenbarger, “If markets are ever-changing, then we must be ever-open to change.” (traderfeed.blogspot.com)CompaniesMarriott ($MAR) is rolling out a new ad network. (wsj.com)Why so many big companies are rolling out advertising efforts. (mobiledevmemo.com)FinanceCheck out an actual feel-good private equity story. (axios.com)How much risk is sitting in the CLO market? (thediff.co)Fund managementDiverse asset managers are not making much headway in terms of AUM. (ft.com)Red … [Read More...]

MarketsA simple explanation for why stocks are struggling. (ritholtz.com)Have tech stocks corrected enough already? (morningstar.com)Bear markets can bring out the worst of people. (allstarcharts.com)StrategyA bear market survival guide including ‘I try to avoid taking the market personally.’ (awealthofcommonsense.com)Investing in the stock market, means signing up for drawdowns. (tker.co)Another look at the ‘four horsemen of the investor apocalypse.’ (humbledollar.com)CryptoWhat kind of financial asset is Bitcoin? (noahpinion.substack.com)Sam Bankman-Fried has become the face of the crypto industry. (nytimes.com)CompaniesElon Musk is angling for a better deal for Twitter ($TWTR). (om.co)Netflix ($NFLX) is considering livestreaming. (theverge.com)TravelFlights are getting more expensive. (axios.com)Everything about summer travel is getting more expensive. (axios.com)GlobalSaudi Aramco made $39.5 billion in Q1. (bbc…. [Read More...]

AutosWhat it’s like to drive the new Ford ($F) F-150 Lightning pickup truck. (axios.com)GM ($GM) says it is playing the ‘long game’ with EVs. (nytimes.com)Americans really do love small trucks and SUVs. (calculatedriskblog.com)Is there room for all the EV startups? (axios.com)EnvironmentFor better or worse, we are already internalizing the impact of climate change. (bloomberg.com)The key to eliminating ocean plastic is preventing it from getting there in the first place. (axios.com)Can Miami survive climate change and rising sea levels? (slate.com)Just how green can steel production get? (undark.org)SpaceThe costs of space launches keep coming down. (fasterplease.substack.com)Astronomers are worried about satellites filling up near space. (adventure-journal.com)Why scientists want to send a probe to Uranus. (space.com)ArchaeologyWe’ve been calling … [Read More...]

MarketsInvestor sentiment is pretty negative. (capitalspectator.com)How much further could stocks fall? (theirrelevantinvestor.com)Bear markets can happen without a recession. (awealthofcommonsense.com)In markets, there is a difference between disappointed and surprised. (fortunesandfrictions.com)Crypto’The Bitcoin as gold’ meme is done for. (morningstar.com)Bitcoin is trading in near lockstep with tech stocks. (bloomberg.com)TwitterTwitter ($TWTR) has always been a soap opera. (howardlindzon.com)Elon Musk is blowing through financial norms. (axios.com)Fund managementWhat all the critics of index investing all have in common. (ritholtz.com)Non-transparent ETFs have been slow to gain traction. (etf.com)Earlier on Abnormal ReturnsPodcast links: marketplace investing. (abnormalreturns.com)What you missed in our Thursday linkfest. (abnormalreturns.com)Longform links: appetite control. (abnormalreturns.com)If YOU are the product, how do you ever take a break? (abnormalreturns.com)Two thoughts … [Read More...]

BooksAn excerpt from “Talent: How to Identify Energizers, Creatives, and Winners Around the World” by Tyler Cowen and Daniel Gross. (future.a16z.com)An excerpt from Seth Stephens-Davidowitz’s forthcoming book, “Don’t Trust Your Gut: Using Data to Get What You Really Want in Life.” (theatlantic.com)An excerpt from “Future Tense: Why Anxiety Is Good for You (Even Though It Feels Bad)” by Tracy Dennis-Tiwary. (wsj.com)BusinessStreaming was supposed to kill the cable companies, but it has only made them stronger. (stratechery.com)Just because Zillow ($Z) failed doesn’t mean iBuying is finished. (technologyreview.com)What is the future of Yandex ($YNDX)? (wired.com)UkraineThe Bayraktar TB2 has played a key role in the Ukraine war. (newyorker.com)Ukraine is already rebuilding some cities. (washingtonpost.com)Who is going to … [Read More...]