What I’m reading this morning
Joshua M Brown
Premium valuations get there for a reason
Chart
Jay-Z goes OFF on Twitter re: streaming music biz
Imagine that – Jay-Z is an underdog for the first time since the late 1990’s… Rich getting richer? Equity values… YouTube $390 billion. Apple $760 billion. Spotify $8 billion. Tidal $60 million. #TidalFacts — Mr. Carter (@S_C_) April 26, 2015 Check Mr. Carter’s Twitter feed for the whole rant. And some more of the backstory…
If this is a head fake, it sure is an elaborate one
Charts
Is Obama the Most Deflationary Force in America Right Now?
In general, when you think the future looks worse than the past, you tend not to want to make big investments or put money at risk on new projects.
QOTD: The Market Doesn’t Care How Smart or Dumb You Are
You can be right for the wrong reasons
The Consensus
Survey says!?!
This Week on TRB
Carl Richards of Behavior Gap fame sketched out a new drawing for his New York Times column live from my office in Manhattan this week. You’ll see it on Monday. These were the most read posts on the site this week, in case you missed it:
Hillary’s Chipotle Order
Video
How We Do Tactical
In our view, many market participants conduct tactical strategies as though they’re implementing the stock market version of Pascal’s Wager.
