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Quote of the Day
"Precisely because everybody thinks there’s huge profits to be made in a particular technology, firm, or sector, capital floods in. This raises share prices. Share prices get so high that even fairly solid future returns can’t justify the prices paid. And so returns in the future are low, flat, negative, or CRASH."
(The Accumulator)
Strategy
- Ben Carlson, "Experience in the markets is often overrated." (awealthofcommonsense.com)
- On the parallels between fly fishing and investing. (intrinsicinvesting.com)
- As in poker, having an investment policy you can follow is key. (economist.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)
Companies
- Polaris ($PII) is trying to even out the seasonality of its business with a boating acquisition. (bloomberg.com)
- John Gapper, "JAB is an innovative combination of ownership and investment in a world that needs challengers to stock market ownership and private equity." (ft.com)
Finance
Funds
Economy
- Weekly initial unemployment claims are still at historically low levels. (calculatedriskblog.com)
- The Fed is still on track for a June rate hike. (blogs.uoregon.edu)
- Structural factors have always been at play in the labor economy. (economy.com)
- The suburbs are once again growing faster than big cities. (brookings.edu)
Earlier on Abnormal Returns
- Startup links: welcoming with open arms. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: saving AND spending. (abnormalreturns.com)
Mixed media
