Quote of the Day
"The whole idea of long-term investing is to align one’s portfolio with the odds. That means: 1) Holding securities that figure to outgain cash more often than not, and 2) Keeping costs very low while doing so. That sounds so obvious as to be useless. Yet many fail to observe those precepts."
(John Rekenthaler)
Chart of the Day

GMO’s 7-year asset class real return forecasts aren’t all that encouraging.
Strategy
- What should you do if you don't know where the market is going? (ofdollarsanddata.com)
- The best alternative assets are capital efficient. (rcmalternatives.com)
- Some behavioral biases that affect professional investors including the 'halo effect.' (behaviouralinvestment.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
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Crypto
Companies
- Netflix ($NFLX) is a subscription service beast. (axios.com)
- How much is a new subscriber worth to Netflix ($NFLX)? (aswathdamodaran.blogspot.com)
Finance
Funds
Content
- Apple ($AAPL) is planning to launch a subscription news service. (bloomberg.com)
- Old-school blogging isn't dead yet. (kottke.org)
- Some retirement blog resources to follow. (rivershedge.blogspot.com)
Global
Economy
- In what parts of America are housing shortages most acute? (wsj.com)
- Companies are targeting a part of the workforce that is underutilized: teenagers. (wsj.com)
- Just how big a role does Airbnb play in the rental market? (bloomberg.com)
Earlier on Abnormal Returns
- Research links: neutralized sectors. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Why digging sustainable economic moats is so difficult. (abnormalreturns.com)
- An equal-weight ETF isn't going to save you from a FAANG-led stock market decline. (abnormalreturns.com)