Saturdays are all about longform links on Abnormal Returns. You can check out last week’s linkfest including a scientific guide to happiness.

Quote of the Day

"Over time, markets have developed an improved understanding of the nature of long-term equity returns. They’ve evolved increasingly efficient mechanisms and methodologies through which to manage the inherent risks in equities. These improvements provide a basis for average equity valuations to increase, which is something that has clearly been happening."

(@Jesse_Livermore)

Longform links