How Bitcoin back above $60,000 could create a powerful upside move

After a consolidation phase spread over the last few weeks, Bitcoin is trading back above $60,000. With 3% gains in the daily chart, at the time of writing, and 2% profit in the weekly chart BTC still looking for confirmation on its rally. BTC with bullish momentum in the 24-hour chart. Source: BTCUSD Tradingview As […]

How Ripple’s big win in court correlates with XRP’s 113% rally

The bulls ride again on XRP’s side, as the token breaks about $1. On the legal subject, things seem to be going well for Ripple’s corner as rumors of an SEC settlement grow louder. Back in December, the Commission hit Ripple Labs, executive Brad Garlinghouse, and Chris Larsen with a lawsuit for the alleged illegal […]

Clubhouse: Why Has It Taken Off?

A typical startup will go through several pivots to find the product-market fit. But this has not been the case for Clubhouse. Launched on the iOS app store in April 2020, it has become one of the hottest social networks in the world. What is it then? Well, this is how the company describes it:  “Clubhouse is a […]

The U.S. Economy Is Now Run By Women

So much for the patriarchy.  At the top of the helm in President Biden’s economic cabinet are numerous women. For example, Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo and trade czar Katherine Tai all collectively help run the economy. Many of President Biden’s economic advisors are also women, Reuters noted this week. The effects of […]

Developing Business Resilience: 4 Keys To Success In Uncertain Times

By Michael Evans Although we are approaching the proverbial “light at the end of the tunnel” of the Covid-19 pandemic, the global economy is still months, if not years, away from being restored to the state it was in early 2020. Most businesses the world over have been forced to adjust to significantly lower revenue […]

Inside the Fight for the Future of The Wall Street Journal

#styln-signup .styln-signup-wrapper { max-width: calc(100% – 40px); width: 600px; margin: 20px auto; padding-bottom: 20px; border-bottom: 1px solid #e2e2e2; } The Wall Street Journal is a rarity in 21st-century media: a newspaper that makes money. A lot of money. But at a time when the U.S. population is growing more racially diverse, older white men still […]

Anthony Tolliver Could Be Ersan Ilyasova 2.0 For The Sixers

Three years ago, the shooting-starved Philadelphia 76ers signed Ersan Ilyasova in late February. He went on to average 10.8 points, 6.7 rebounds and 1.3 threes in only 24.1 minutes per game, playing a critical bench role for a Sixers team that ripped off a 16-game winning streak heading into the playoffs. They can only hope […]

Rep. Dan Crenshaw Will Be Blind For A Month Following Emergency Surgery

Topline Rep. Dan Crenshaw (R-Texas) underwentemergency surgery on Friday for a detached retina and will be “effectively blind for about a month,” he announced in a statement issued by his office Saturday. Key Facts Crenshaw, a U.S. Navy SEAL veteran who lost his right eye and sustained severe damage to his left eye in combat […]

The Wall Street Journal’s Internal Audit

A look at what the newsroom’s internal study — The Content Review — concluded about the paper’s faults. #styln-signup .styln-signup-wrapper { max-width: calc(100% – 40px); width: 600px; margin: 20px auto; padding-bottom: 20px; border-bottom: 1px solid #e2e2e2; } For over a year, a special team of editors within The Wall Street Journal analyzed the state of […]

How NFTs, DeFi and Web 3.0 are intertwined

While blockchain itself provides the technology constructs to facilitate exchange, ownership and trust in the network, it is in the digitization of value elements where asset tokenization is essential. Tokenization is the process of converting the assets and rights to a property into a digital representation, or token, on a blockchain network.  Distinguishing between cryptocurrency […]

Newsom Neutered Again – Supreme Court Blocks California's Restrictions On In-home Religious Gatherings

Authored by Zachary Stieber via The Epoch Times, The Supreme Court late Friday ruled against California, blocking the restrictions ban on in-home Bible studies and other religious gatherings. The court’s narrow 5–4 ruling was in favor of a group of Santa Clara residents who asserted the restrictions violated the First and Fourteenth Amendments of the U.S. Constitution. “Applicants are likely […]

Friday Box Office: ‘Godzilla Vs. Kong’ Plunges 67% But Tops $60 Million

Godzilla Vs. Kong held better on its second Friday than Godzilla and King of the Monsters. Godzilla Vs. Kong earned an additional $3.88 million at the domestic box office, dropping 67% from its initial $11.6 million Friday gross. The size of the drop is partially due to last Friday being Good Friday, the Adam Wingard-directed […]

EXO’s BAEKHYUN Dominates The Top Of The Korean Download Chart

Whether he’s recording and releasing music on his own, with EXO or even with supergroup SuperM, South Korean singer BAEKHYUN is a bonafide star. He’s scored huge wins in his home country (and beyond) under all three monikers, and it seems as if with each passing release, he succeeds more and more. This week, he’s […]

Oasis Foundation announces implementation of Tidal DeFi insurance platform

The Oasis Foundation, an offshoot of Oasis Network developers Oasis Labs, announced in a blog post on Friday that decentralized finance (DeFi) insurance and coverage provider Tidal Finance will be implementing a version of their platform on the Oasis Network.  The blog post noted that insurance will be important for users of the platform as […]

Barring Those Gearhead Enthusiasts From Tinkering With Self-Driving Cars

Turn a wrench. As you might know, that is the customary parlance used to refer to a car enthusiast (they can “turn a wrench” or mechanically work on a car). Such devotees are often characterized as so-called motorheads or in other countries a revered petrol-head (there is an ongoing debate about whether this “petrol” reference […]

Lifelong Padres Fan Joe Musgrove Throws San Diego’s First No-Hitter

After 8,205 games, it finally happened. The San Diego Padres – the only one of the 30 major-league teams without a no-hitter – got their first. It happened Friday night when Joe Musgrove, a lifelong Padres fan making his second San Diego start after arriving from Pittsburgh in a winter trade, pitched one at Globe […]

Debt-Fueled Spending Won't Create Growth

Authored by Lance Roberts via RealInvestmentAdvice.com, More debt equals less growth. In October, I discussed the “2nd Derivative Effect” and the ongoing cost of the stimulus. With the passage of the $1.9 trillion “American Rescue Plan,” will the math of debt to growth change? Now, even Deutsche Bank credit strategist, Stuart Sparks, got the memo. “History teaches us that […]

Saudi Aramco Sells Oil Pipeline Stake for $12.4 Billion

Lee Delaney joined BJ’s in 2016 as executive vice president and chief growth officer, and he became chief executive last year.Gretchen Ertl/Associated Press Lee Delaney, the president and chief executive of BJ’s Wholesale Club, died unexpectedly on Thursday of “presumed natural causes,” according to a statement released Friday by the company. He was 49. “We […]

AstraZeneca Vaccine and Blood Clots: What Is Known So Far

In rare cases, an immune reaction has led to antibodies that caused a serious clotting disorder. But public health experts maintain the vaccine’s benefits far outweigh the risks for most people. The AstraZeneca-Oxford vaccine has been deployed against Covid-19 in at least 115 countries, some of them for several months now. But it wasn’t until […]

Supreme Court Rules California Must Allow In-Home Religious Gatherings

Topline The Supreme Court ruled by a 5-4 margin late Friday that California’s coronavirus-related restrictions on gathering in private homes violated constitutional rights on the free exercise of religion, the latest ruling from the high court that prohibits authorities from enforcing limits on religious services. Key Facts Five conservative justices agreed that California’s restrictions banning […]

Why Direct Indexing is the New Killer App for Advisors

Michael Batnick says he knew from the start that direct indexing was going to transform his firm, New York City-based Ritholtz Wealth Management, where he is director of research. When CEO Josh Brown “and I saw this, I said to him, ‘The next billion dollars that we raise is going to be in this thing.’ […]

Forget Manchester City’s Loss Its Results Are All About The Wages

Manchester City revealed this week it lost a whopping $172 million in 2019-20. Although coronavirus disruption to the season is the key reason for it, comments by manager Pep Guardiola saying the club may be priced out of a move for a new striker had added weight. “With these prices, we are not going to […]

What Could Go Wrong? 5 Ideas…

From Nicholas Colas of DataTrek Research Today we offer up a list of 5 negative scenarios for US/global equities. In no particular order: 1) markedly higher interest rates, 2) below-expectation US consumer spending, 3) heightened geopolitical risks once militaries/non-state actors are vaccinated, 4) US Big Tech regulation and 5) a raft of better investment opportunities […]

 US Homes “Snatched Up Right Away” As Market Drained Of Supply 

There has been a clear shift in market mood and sentiment ever since the COVID pandemic: whereas the Fed smashed mortgage rates to record lows, and the federal government delayed the foreclosure wave via forbearances. On top of this, socio-economic chaos in major metro areas resulted in an urban exodus like never before.  This has […]

Atlanta Real Estate in March: Sales Up 15% YoY, Inventory Down 58% YoY

by Calculated Risk on 4/10/2021 09:43:00 AM Note: I’m tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year. From the GAMLS for Atlanta: Total Residential Units Sold in March 2021 were 9,021, up 14.6% from 7,874 in March 2020. Active Residential Listings in March 2021 […]

Saturday links: dogged behavior change

Saturdays are the day we catch up with all the non-finance related items that we didn’t get to during the week. You can check out last week’s edition here. Have a great weekend! Quote of the Day “Covid-19 should also teach us that resolving a problem with technology may be easier than resolving it with […]

All that mined is not green: Bitcoin’s carbon footprint hard to estimate

The debate around the environmental impact of the Bitcoin mining ecosystem is heating up once again as academics have provided a fresh dose of perspective on the subject. In an opinion piece written by Noah Smith, a former assistant finance professor turned columnist, took aim at the Bitcoin (BTC) mining industry in March, suggesting that […]

MiB: John Schlifske, Northwestern Mutual CEO

This week, we speak with John E. Schlifske CEO of Northwestern Mutual. The 160-year old firm underwrites over $2 trillion in life insurance, and has about $300 billion in client assets; they are ranked #102 on the Fortune 500. Schlifske joined Northwestern Mutual in 1987 as an investment specialist, and climbed through the ranks, becoming CEO […]

Coronavirus links: the great divide

A coronavirus pandemic linkfest is now a weekly feature here on Abnormal Returns. Please stay safe and find a vaccination site near you. You can read last week’s edition here. Quote of the Day “As I look back over the past year, I am amazed by the advances in science that led to vaccine development […]

Schedule for Week of April 11, 2021

by Calculated Risk on 4/10/2021 08:11:00 AM The key reports this week are March housing starts, CPI and retail sales. For manufacturing, the March Industrial Production report and the April NY and Philly Fed manufacturing surveys will be released this week. —– Monday, Apr 12th —– No major economic releases scheduled. —– Tuesday, Apr 13th […]

What Working Too Much Does to Your Body

Excess work isn’t good for anyone, employers included. So why are we still doing it? #styln-signup .styln-signup-wrapper { max-width: calc(100% – 40px); width: 600px; margin: 20px auto; padding-bottom: 20px; border-bottom: 1px solid #e2e2e2; } The DealBook newsletter delves into a single topic or theme every weekend, providing reporting and analysis that offers a better understanding […]

Economics in One Virus

Here is John Cochrane, Megan McArdle, Ryan Bourne and myself on the pandemic. Lots of good material. John Cochrane was excellent on testing in a pandemic and why it’s different than medical testing, starting around 22:00. My follow-up also had some good material, our antibodies, our selves. Ryan Bourne’s book Economics in One Virus is […]

How the digital yuan stablecoin impacts crypto in China: Experts answer

This is part one of a multipart series on blockchain and crypto in China. China has been discussing the possibilities of national digital currency for half a decade, and the Chinese digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — has years of history. Back in 2014, the People’s […]

Links 4/10/2021

Insatiable Shipping Companies Set the Table for the Suez Canal Ship Debacle Labor Notes Crude Greeks decide it’s time to go very large Lloyd’s List Credit Suisse Scandal Toll Goes Ever Higher as Rivals Thrive Bloomberg ‘This crisis is different’: the dramatic rebound in the global economy FT Stabilising the economic outlook Philip R. Lane, […]

If You Can’t Beat Institutional Real Estate Investors, Join Them

A recent WSJ piece entitled, If You Sell Your House, The Buyer Might Be A Pension Fund, caused some commotion. The article highlighted how competition is heating up for single family homes due to demand from institutional real estate investors. When I read the article, I was surprised to see Fundrise mentioned in the second […]

Rising Interest Rates Threaten Mutual Fund Returns

The stock market’s rally during the pandemic has been nothing short of amazing. But rising interest rates are raising the question of how long this bull market can last. In the 12 months through March, the average general stock mutual fund tracked by Morningstar returned nearly 66 percent — a remarkable rebound after a three-month […]

FIL on the rise: Filecoin’s upcoming production cut alters tokenomics

Filecoin (FIL) is one of the most prominent coins in the storage sector of cryptocurrencies. In the past month, the price and market capitalization of FIL has rocketed to new highs. On April 1, the coin reached $233.68 along with breaking into the top 10 cryptocurrencies by market capitalization.  Basically, Filecoin is a decentralized cloud-based […]