Strategy

• Shifting your asset allocation based on economic forecasts is a fool's errand. (savantwealth.com)
• Gathering and interpreting information has a cost. (mrzepczynski.blogspot.com)
• How wrapped up should you be in the market efficiency debate? (blogs.cfainstitute.org)

Banks

• Bitcoin is benefiting from the banking crisis. (theirrelevantinvestor.com)
• Bank turmoil is now on everyone's dance card for 2023. (tker.co)
• Bank depositors are moving money into money market mutual funds. (econbrowser.com)
• First Republic's ($FRC) proxy makes for interesting reading. (rationalwalk.com)
• How the bank crisis could ripple through the economy. (axios.com)

Fintech

• The banking crisis isn't great for fintech companies. (theinformation.com)
• Why aren't there more 'winner-take-all' situations in fintech? (notes.mtb.xyz)

Companies

• How old economy companies benefit from Big Tech layoffs. (tker.co)
• Not everyone at Apple ($AAPL) is convinced that VR/AR headsets are the right move. (nytimes.com)
• Companies are talking a lot about AI these days. (investmenttalk.substack.com)

Policy

• Scott Lincicome, “Ship American” might sound nice in theory. This is what it looks like in practice: not shipping much of anything in America at all.“ (theatlantic.com)
• U.S. women are having fewer children than they say they want. (washingtonpost.com)
• How police officers can retire before being fired for misconduct. (npr.org)
• An increasing number of guns are being stolen out cars these days. (nytimes.com)
• You can thank the pandemic for the wide rifts seen at the local school board level. (washingtonpost.com)
• Why public restrooms in the U.S. are still so rare. (nytimes.com)
• Rural mail delivery is getting worse. (wsj.com)

Economy

• The banking crisis stems directly from the pandemic. (disciplinefunds.com)
• The economic schedule for the coming week. (calculatedriskblog.com)

Earlier on Abnormal Returns

• Top clicks this week on the site. (abnormalreturns.com)
• What you missed in our Saturday linkfest. (abnormalreturns.com)
• Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)

Mixed media

• If TikTok gets banned, these other Chinese apps could be in the crosshairs. (wsj.com)
• A potential TikTok ban should convince creators they need to diversify their platforms. (thebasispoint.com)
• TikTok scolds are having their moment in the sun. (vox.com)

Top clicks this week

1. Rising rates are still working their way through the markets and economy. (allisonschrager.substack.com)
2. Surprises shouldn't be surprising. (mrzepczynski.blogspot.com)
3. What risks should you actually hedge? (mr-stingy.com)
4. Spend money on stuff that really moves the needle. (dariusforoux.com)
5. Energy stocks are now struggling. (allstarcharts.com)
6. The CFA Institute is overhauling its testing. (institutionalinvestor.com)
7. What jobs are generative AI going to eliminate? (unchartedterritories.tomaspueyo.com)
8. Why isn't the stock market going down? (theirrelevantinvestor.com)
9. Ten reasons why SVB failed including 'The whole banking system is a bizarre confidence trick.' (riabiz.com)
10. Treasury market liquidity is not great. (bloomberg.com)