Review: Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel and Stian Westlake explains a lot of current puzzles. (WSJ)
Quote of the Day
"Diversification, risk management, and the avoidance of chasing past performance are all prudent forms of an investment process. But sometimes prudence doesn’t pay in the markets and risk-seeking behavior offers the best payout."
(Ben Carlson)
Chart of the Day
It’s been awhile since international stocks outperformed US stocks on a sustained basis.
Markets
- The yield on the 30-year Treasury bond has been a tight range for the past year. (wsj.com)
- The 10 year Treasury note just topped 2.7% for the first time since 2014. (crossingwallstreet.com)
- Fixed income asset classes are badly trailing over the past year. (capitalspectator.com)
Crypto
- Big coin thefts just keep happening. (bloomberg.com)
- Governments are worried that cryptocurrencies are helping users evade detection. (bloomberg.com)
- 12 things that are "not normal" in the blockchain ecosystem. (startupmanagement.org)
Companies
- Apple ($AAPL) is now a chip company. (bloomberg.com)
- Amazon ($AMZN) is now an advertising company. (wsj.com)
Finance
Fund management
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)
Global
Economy
- A sustained rise in business investment will be the tell on the new tax bill. (bloomberg.com)
- Millennials are flocking to suburbs not big cities. (thedailybeast.com)
Earlier on Abnormal Returns
- ETF links: an unfair fight. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
