Come see me (and the likes of Ken Fisher, Annie Duke and Ryan Holiday) at EBI West in June 24-26th in Dana Point, California. You will not be disappointed.
Quote of the Day
"The active money management industry will have to consolidate -- and depending on how fast the market drops it could happen in a hurry -- in order to gain scale and be able to compete with the likes of Vanguard."
(Eric Balchunas)
Markets
- Are US equity valuations all that out of whack relative to the rest of the world? (macro-man.blogspot.co.uk)
- Value investing isn't dead. (alphaarchitect.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)
Crypto
- Telegram has pulled its coin offering. (wsj.com)
- Goldman Sachs ($GS) is inching toward trading Bitcoin. (nytimes.com)
- What adding crypto to a 60/40 portfolio does. (static.bitwiseinvestments.com)
Companies
- Elon Musk is not doing Tesla ($TSLA) shareholders any favors. (cnbc.com)
- Berkshire Hathaway ($BRK.A) is now the second largest residential real estate broker in America. (wsj.com)
- When a founder gives up super-voting shares for the benefit of the company. (avc.com)
Finance
- KKR ($KKR) is shifting from partnership to corporation. (bloomberg.com)
- AllianceBernstein ($AB) is not the first, will not be the last, firm to move operations from a financial center. (ft.com)
- Only a handful of (lucky) individuals have ISDA agreements in place. (bloomberg.com)
Economy
- Markets are still expecting the Fed to raise rates in June before a pause. (crossingwallstreet.com)
- Weekly initial unemployment claims are sitting at multi-decade lows. (calculatedriskblog.com)
- Fast food restaurants are hurting for workers as teenagers avoid the workforce. (nytimes.com)
Earlier on Abnormal Returns
- Startup links: degrees of difficulty. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: choosing where to live. (abnormalreturns.com)
- Why the money management industry is on an path toward increasing automation. (abnormalreturns.com)
Mixed media
