Quote of the Day
"If you strip away all of the activities and the just get down to basics, strategies are based on the world view of the manager and will either make money when prices move away from the mean or equilibrium price or prices revert to the mean or equilibrium price."
(Mark Rzepczynski)
Chart of the Day

The price-sales ratio on developed markets are at historical highs.
Markets
- What the flattening Eurodollar futures curve is telling us. (themacrotourist.com)
- Dividends are on the rise in the US and Europe. (wsj.com)
- Calm down, the tech sector is not that expensive. (ftalphaville.ft.com)
Strategy
- Why 2018 feels worse than it should: 2017. (bloomberg.com)
- When facts in finance get in the way. (theirrelevantinvestor.com)
- Dave Nadig at ETF.com on "the resources I find most valuable on a day-to-day/week-to-week basis." (etf.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
- Basis is on its way to become a 'stablecoin.' (bloomberg.com)
- Why banks are gearing up to trade cryptocurrencies. (bloomberg.com)
Finance
- Why banks are gearing up their 'strategic equity' desks. (ft.com)
- Why hedge funds try to hide their investments in distressed debt. (institutionalinvestor.com)
Funds
Economy
- The collapse of public pension funds are closer than you think. (bloomberg.com)
- Why American cities won't get more dense: the case of Boise. (bloomberg.com)
Earlier on Abnormal Returns
- Personal finance links: forecasting misery. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: neutralized sectors. (abnormalreturns.com)
- Why digging sustainable economic moats is so difficult. (abnormalreturns.com)