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
"Google and Facebook, on the other hand, are accountable to no one. Both deserve all of the recent scrutiny they have attracted, and arguably deserve more."
(Ben Thompson)
Chart of the Day

It’s hard to ignore the massive outperformance of consumer discretionary vs. consumer staple stocks.
Markets
- Looking for value outperformance? Think small caps. (capitalspectator.com)
- A majority of commodities futures markets are now in backwardation. (rcmalternatives.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
- AI and crypto-miners are hoarding graphics processing units. (nytimes.com)
- A look at where the rich cold store their Bitcoin. (bloomberg.com)
- Cryptojacking is more common than you think. (scientificamerican.com)
Companies
- Spotify's ($SPOT) investors are none too patient. (ftalphaville.ft.com)
- Banks are upping their collateral with Tesla ($TSLA). (ftalphaville.ft.com)
- Is Loew's ($LTR) trying to acquire Boardwalk Properties ($BP) on the cheap? (capitalobserver.com)
Finance
Economy
Earlier on Abnormal Returns
- Personal finance links: stressed-out advisors. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: variance drain. (abnormalreturns.com)
- Now more than ever, donating appreciated securities to charity makes sense. (abnormalreturns.com)