Weekly Mixtape For May 10th, 2020

Week In Review Articles

The WSJ: April Unemployment Rate Rose to a Record 14.7%

The WSJ: Stocks Close Higher Despite Grim Jobs Report

The WSJ: Why Is the Stock Market Rallying When the Economy Is So Bad?

CNBC: US Treasury Seeks To Borrow A Record $3 Trillion This Quarter

The WSJ: Some Americans Are Being Turned Away Trying to Buy Life Insurance

Weekly Mixtape

Morgan Housel: What Have We Learned Here? “But many businesses faced bankruptcy after losing a few weeks of sales. This is less about poor preparation and more about revealing the tightrope walk of business operations.”

The Irrelevant investor: More Is Less “Leverage is the fastest way to go from good to great, but it’s also the fastest way to go from good to broke. Every cycle investors learn that leverage is a poor substitute for patience.”

A Wealth Of Common Sense: Some Thoughts, Worries, And Questions About The Crisis “Markets are not always right but investors are wrong more than the market isThe S&P 500 was up another 3.5% this past week alone. It’s now up more than 31% from the lows on March 23rd. Many people continue scratching their heads about this one.’

The Irrelevant Investor: The Rise And Fall “It’s really hard to see a future where Amazon loses power, but that could have been said about each and every one of the great companies of the past. Right now Peloton is “just” a company that sells bicycles and treadmills, but in 1997, Amazon was “just” a company that sold books online. Maybe it truly is different this time, that the next Amazon is Amazon, but history suggests this isn’t something worth betting the farm on.”

A Wealth Of Common Sense: Can Millennials Count On Social Security In Financial Planning “It’s possible your benefit will be reduced in the coming years or you’ll have to wait a little longer to start drawing distributions but I feel fairly safe telling millennials they can plan on receiving something from social security in retirement.”

Dasarte Yarnway: Onward To Greatness “The common characteristic to every person who achieved something great is that they believed that they could.There is power in believing.When you do so, you stretch the corridors of “reality” and turn all that is “impossible” into achievable. Believing not only makes you great, but it gives someone else the confidence that they can be, too.”

Bps And Pieces: What To Expect When You’re Expecting (Outperformance) “#1. No risk, no reward: These size and value factors are risk premia. If we expect long-term outperformance, it is in part explained by the underlying risk, which manifests itself in periods of underperformance.”

All About Your Benjamins: #RunWithMaud

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