Excerpt: Six life lessons from Terry Crews via Tim Ferriss’ new book, Tribe of Mentors: Short Life Advice from the Best in the World. (Tim Ferriss)
Quote of the Day
"Bitcoin has become a vehicle for hoarding by libertarians and hard-currency enthusiasts who fear central banks will inflate away their savings, and for gambling by hordes of speculators attracted to its wild price swings."
(James Mackintosh)
Strategy
- Jack Vogel, "Even passive index investors are betting on factors." (alphaarchitect.com)
- Athony Isola, "Markets don’t operate in sealed jars." (tonyisola.com)
- 12 signs a company is a 'value trap.' (bloomberg.com)
Bitcoin bubble debate
- We are still early in the game: don't get hung up on any individual coin. (pragcap.com)
- Tyler Cowen on how to think about Bitcoin. (marginalrevolution.com)
- Is crypto more Tulip bubble or South Sea bubble? (valueandopportunity.com)
- The case for Bitcoin as a 'pure bubble.' (ft.com)
Cryptocurrencies
- Please, please don't borrow against your Bitcoin position. (prestonbyrne.com)
- What kind of margins will Bitcoin futures require? (ftalphaville.ft.com)
- A bunch of Bitcoin may simply be lost or unrecoverable. (fortune.com)
- Yahoo Finance is getting into the cryptocurrency game. (axios.com)
Alternative data
- Why hedge funds are willing to pay for Quandl's alternative data. (business.financialpost.com)
- Sophisticated investors have always sought out investing edges using data and computing power not available to 'mom and pop' investors. (bloomberg.com)
- A Q&A with Alfred Spector CTO of hedge fund Two Sigma. (nautil.us)
Hedge funds
- Hedge funds really aren't trading all that much. (zerohedge.com)
- Why hedge funds may want to pay bonuses early. (bloombergquint.com)
- Trend-following funds are venturing into less liquid markets. (ft.com)
Support Abnormal Returns
- Want to support Abnormal Returns? Get yourself (or someone you love) an annual membership. (abnormalreturns.com)
- Love Abnormal Returns? Like us on Facebook. (facebook.com)
- Stay up-to-date with all of our posts: sign-up for our daily e-mail newsletter. (abnormalreturns.com)
Global
Energy
- Natural gas and wind are simply outcompeting coal. (wsj.com)
- Solar is simply too cheap for rising EV adoption to cause the system to regress. (medium.com)
Economy
- We are entering the 'most dangerous' period of the economic cycle. (pro.creditwritedowns.com)
- Why the US needs a sovereign wealth fund. (nytimes.com)
Earlier on Abnormal Returns
- Startup links: SPAC speculation. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: diversifying too soon. (abnormalreturns.com)
