Markets

• Lumber prices are up 81% year-over-year. (calculatedriskblog.com)
• Why the stock market seems untethered from reality. (finance.yahoo.com)
• Arguments about market valuations often come down to time frame. (thereformedbroker.com)

Companies

• Covid-19 vaccines seem to be on track for approval, but the relevant stocks may have already priced that in. (wsj.com)

TikTok

• How Microsoft ($MSFT) could structure a deal for TikTok without selling its soul. (techcrunch.com)
• The TikTok situation is another example of how the global Internet has splintered. (ft.com)
• Why Microsoft ($MSFT) and not some other American company? (om.co)
• The US isn't along in its concerns about TikTok. (washingtonpost.com)

Google

• Alphabet ($GOOGL) just borrowed money for five years at 0.40%. (reuters.com)
• Google is expanding its plans to offer digital banking services in the U.S. associated with Google Pay. (techcrunch.com)

Alternatives

• Alternatives manager GCM Grosvenor is going public via a merger with a SPAC. (institutionalinvestor.com)
• Hedge fund launches have rebounded, post-lockdown. (wsj.com)
• Hedge funds are not skimping on alternative forms of data. (ft.com)

Global

• Two different cruise ships are dealing with coronavirus outbreaks. (theguardian.com)
• How Israel's school reopening went off the rails. (nytimes.com)
• What we can learn from Italy and Sweden's approach to the coronavirus. (bloomberg.com)

Coronavirus and business

• Instant Covid-19 tests would be a game changer. (avc.com)
• Are movie theaters ever going to come back? (theringer.com)
• Why we need a bar and restaurant bailout. (vox.com)
• Native Americans are suffering from the shutdown of casinos. (bloomberg.com)

Economy

• The Federal Reserve is a lender of last resort not just for the US. (wsj.com)
• Where various business cycle indicator stand. (econbrowser.com)
• The economy wants to recover, but the coronavirus is holding things back. (bonddad.blogspot.com)

Earlier on Abnormal Returns

• Research links: momentum time frames. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: misaligned advice. (abnormalreturns.com)
• August ESG links: minimizing mistakes. (abnormalreturns.com)
• Finding better ways to care for your clients and yourself: why you should sign up for our new weekly adviser-focused e-mail. (abnormalreturns.com)

Mixed media

• How the workday is changing in pandemic, think shorter meetings. (marginalrevolution.com)
• Companies are now learning the downside of remote work including onboarding new employees. (wsj.com)
• How to productively break up with various commitments in your life. (hbr.org)
• Don't expect a summer slowdown this year. (avc.com)

Corporate finance

• Evidence on how the gender gap presents itself in capital allocation decisions inside corporations. (alphaarchitect.com)
• Corporate responsibility initiatives can actually attract hedge fund activists who fear 'greenwashing.' (ft.com)
• How CEO stress affects aging. In short, not well. (marginalrevolution.com)

Portfolio construction

• Potential errors in the portfolio construction process are always present. (breakingthemarket.com)
• Let's face it: most asset classes are bets on economic growth. What can you do to truly diversify? (factorresearch.com)

Research

• Yes, fundamentals matter, but systematic value may very well be dead. (alphaarchitect.com)
• There is no single risk parity formula. (rcmalternatives.com)
• Is relative skew a priced factor? (alphaarchitect.com)
• Private equity returns are weighed down by high fees. (papers.ssrn.com)
• How Canada's public pensions stack up against those in the US. (privpapers.ssrn.com)
• Why academics publish research papers demonstrating ways to beat the market. (advisorperspectives.com)