Quote of the Day
"For most investors, failure means not meeting one’s financial objectives. In the portfolio management context, failure comes in two flavors: slow failure results from taking too little risk and fast failure results from taking too much risk."
(Justin Sibears)
Markets
- What a drop below the 200 day moving average really means. (bloomberg.com)
- US stock market outperformance since the GFC hasn't been all about tech stocks. (thereformedbroker.com)
- Stocks are the biggest contributors to risk in a 60/40 portfolio. (theirrelevantinvestor.com)
- When thinking about volatility, think about more than the $VIX. (themacrotourist.com)
Strategy
- Why most investors would be better off with an all-in-one fund. (obliviousinvestor.com)
- A dollar of fees saved is easier earned than a dollar of alpha. (elmfunds.com)
- Investors don't play enough attention to after-tax returns. (gersteinfisher.com)
- Smart beta ETFs are not the same as factor investing. (factorresearch.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
- Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)
- Support Abnormal Returns with an annual membership and get access to exclusive stuff. (abnormalreturns.com)
Crypto
- Matt Levine, "Limits to arbitrage can help explain why Bitcoin has been so bubble-prone." (bloomberg.com)
- Now is the time for contrarians to start sniffing around cryptocurrencies. (ft.com)
- Why Bitcoin isn't money. (pragcap.com)
Companies
Finance
- VC investment is back to pre-crisis levels. (institutionalinvestor.com)
- There is no single reason for the drop in the number of publicly traded US companies. (ftalphaville.ft.com)
Funds
Economy
- Per the March NFIB survey, small businesses are having a hard time finding qualified workers. (calculatedriskblog.com)
- Increased government regulation is not putting a damper on business dynamism. (washingtonmonthly.com)
Earlier on Abnormal Returns
- Research links: the factor olympics. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: securities lending revenue. (abnormalreturns.com)
- ESG links: impact investing. (abnormalreturns.com)
Mixed media
