Picking Up The Tab

Fly Charts: Paying for Harvey and Best Buy's Unlikely Persistence

From UnitedHealth's M&A vision to the horrors of indexing, here are four charts that tell you what you need to know in business today.

A "Dry Gully" sign stands in floodwaters due to Hurricane Harvey in Spring, Texas, U.S., on Monday, Aug. 28, 2017. A deluge of rain and rising floodwaters left Houston immersed and helpless, crippling a global center of the oil industry and testing the economic resiliency of a state that's home to almost 1 in 12 U.S. workers.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From UnitedHealth's M&A vision to the many potential crimes of indexing, here are four charts that tell you what you need to know in business today.

Houston's Pain

A huge amount of Harvey's damage won't be covered by flood insurance; the government needs a better way to pay for the woefully underfunded program.

Source: CoreLogic

That's Progress

Wasn't Amazon supposed to have put Best Buy to the sword by now?

Source: Bloomberg

Leader of the Pack

UnitedHealth continues to do the diversifying deals that have made it an industry leader. And its insurance rivals continue to sit by and watch.

Source: Bloomberg

Research Recession

Add slashed corporate R&D budgets to the crimes being heaped at the feet of over-indexing and horizontal ownership.

Source: Germán Gutiérrez and Thomas Philippon, Bloomberg

And don't miss Chris Bryant on the march of de-equitization: "Factors that affect intrinsic value (earnings) are endlessly debated, as are the impact of central bank asset purchases on stock prices. But rare is the market report that begins: 'The price of equities rose today because there weren’t as many good ones to buy.'"

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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