Excerpt: Why we do weird stuff right before a decade-ender from Daniel Pink’s When: The Scientific Secrets of Perfect Timing. (The Atlantic)
Quote of the Day
"There truly is no such thing as pure passive investing, just degrees of passivity. Indices, we ought to remind ourselves, are human constructs. They were not handed down from atop Mount Sinai nor are they naturally occurring phenomena."
(Josh Brown)
Markets
- This has historically not been a great week for the stock market. (quantifiableedges.com)
- Value stocks have been lagging growth stocks badly of late (capitalspectator.com)
Strategy
- "If the S&P stays at its current valuation indefinitely into the future, what return will it likely deliver? (philosophicaleconomics.com)
- The case for having low equity allocations. (alephblog.com)
- History shows the return on safe assets are few and far between. (mrzepczynski.blogspot.com)
- The case for trend following is robust. (ofdollarsanddata.com)
Crypto
- This news may be a factor in the drop today in cryptocurrencies. (fortune.com)
- How vulnerable are the new crypto hedge funds to a crash? (bloomberg.com)
- One trader reportedly drove Bitcoin from $150 to $1000. (techcrunch.com)
- Telegram wants to launch a huge ICO. (techcrunch.com)
- We still don't have a universal, electronic currency for transactions. (bloomberg.com)
- Four reasons NOT to invest in cryptocurrencies. (consumerreports.org)
Companies
ESG
- Blackrock ($BLK) CEO Fink is calling on companies to "contribute to society" or risk falling behind. (nytimes.com)
- Companies need not optimize profits all the time, every time. (m.signalvnoise.com)
Funds
- Where are all the female investors? (ft.com)
- Why the market for active strategies is such a jumble. (behaviouralinvestment.com)
- Bill Miller just made a big donation to Johns Hopkins to support its philosophy department. (nytimes.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
- Get yourself (or someone you really like) an annual membership. (abnormalreturns.com)
- Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)
Economy
Earlier on Abnormal Returns
- Research links: human judgment. (abnormalreturns.com)
- Our book link round-up from January 2018 including endorsements of Ray Dalio's "Principles: Life and Work" and Daniel Pink's "When." (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: radical price transparency. (abnormalreturns.com)
