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Quote of the Day
"(T)o insist that Facebook will die any day now is in some respects to suggest that humanity will cease to exist any day now; granted, it is a company and companies fail, but even if Facebook failed it would only be a matter of time before another Facebook rose to replace it."
(Ben Thompson)
Chart of the Day

Alibaba’s ($BABA) Ant Financial has become an 800-pound financial services gorilla.
Markets
- What happens when everyone is paying attention to a single indicator, like the slope of the yield curve. (integratinginvestor.com)
- Mean reversion doesn't work on any sort of schedule. (awealthofcommonsense.com)
Strategy
- 10 questions to ask before purchasing a security. (behavioralvalueinvestor.com)
- What the Overton Window tells us about the acceptance (or lack thereof) of new ideas. (mrzepczynski.blogspot.com)
- Don't read too much into financial headlines that include celebrities. (theirrelevantinvestor.com)
- You can't be a fan if you want to be a good investor. (tonyisola.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
Finance
- IEX Group has failed to attract any listings to its exchange. (wsj.com)
- Fintech is slowly but surely changing the financial landscape. (howardlindzon.com)
Leveraged loans
- Standard & Poor’s and Moody’s are warning about the decline in quality of leveraged loans. (washingtonpost.com)
- 'CLO warehousers' are losing their appetite for leverage loans. (bloomberg.com)
Alternative assets
- The best hedge funds are often not available to outside investors. (wsj.com)
- 'Buy-and-build' has become half of private equity transactions. (ft.com)
- Why the secondary market for private equity stakes is growing. (allaboutalpha.com)
Earlier on Abnormal Returns
- Adviser links: aggressive marketing. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)