Review: Windfall: How the New Energy Abundance Upends Global Politics and Strengthens American Power
by Meghan L. O’Sullivan “is a smart, deeply researched primer on the subject.” (NYTimes)
Quote of the Day
"Betting kills hyperbole..."
(Bryan Caplan)
2017
- How the major asset classes performed in December 2017. (capitalspectator.com)
- It was hard to go wrong in 2017. (mrzepczynski.blogspot.com)
- Energy was a notable laggard in 2017. (crossingwallstreet.com)
- How factor performance played out in 2017 including a win for momentum. (factorresearch.com)
Markets
- Older Americans keep snapping up Treasury bills, bonds and notes. (wsj.com)
- Why the Bund-UST spread should narrow in 2018. (themacrotourist.com)
Strategy
- Why generating historical-like returns will only get more difficult in 2018. (mrzepczynski.blogspot.com)
- On the difference between good diversification and bad diversification. (peterlazaroff.com)
- The world is more complicated than its seems. (thewaiterspad.com)
Support
- Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
- Want to support Abnormal Returns? Get yourself (or someone you love) an annual membership. (abnormalreturns.com)
Companies
- Amazon ($AMZN) succeeds in large part by relying on third party sellers. (wsj.com)
- The 'who is Amazon going to buy in 2018' rumors are ramping up. Sigh. (bloomberg.com)
Pension funds
- Heather Gillers, "Over the next decade Wilshire Consulting is predicting a 6.25% compound return for U.S. equities and 3.5% return for core bonds. International equities have a projected compounded return of 6.45%. Most pensions’ return targets remain at 7% to 8%." (wsj.com)
- On expected returns, pension fund just doesn't work. (theirrelevantinvestor.com)
Finance
- Why high-frequency trading firms are dropping out of the business. (ft.com)
- Private equity firms are leaning on loans to boost IRRs. (ft.com)
Crypto
- Ripple put Bitcoin to shame in 2017. (qz.com)
- Why criminals are switching to Monero. (bloomberg.com)
Funds
- The ETF price war is putting pressure on fees throughout the industry. (ft.com)
- Successful managers are often 'one-offs.' (mutualfundobserver.com)
- Stop subsidizing the lifestyles of 'rich and famous' mutual fund managers. (mutualfundobserver.com)
- Vanguard starts the year with a new CEO. (beta.morningstar.com)
Economy
- Falling unemployment is finally giving a boost to wages. (wsj.com)
- Lumber prices are soaring. (calculatedriskblog.com)
- Scott Grannis, "If 2018 is going to be about just one thing, it will be whether boosting the after-tax rewards to business investment results in a stronger economy." (scottgrannis.blogspot.com)
- Why don't cities grow without limit? (marginalrevolution.com)
Earlier on Abnormal Returns
- Research links: tax-inefficiency. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in December 2017. (abnormalreturns.com)
- ETF links: cheap and transparent. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
