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Quote of the Day
"Open-mindedness is usually viewed as an acceptance that other people might be right, rather than an active process of discovering where you’re wrong. Those might seem like the same thing, but they’re not. "
(Morgan Housel)
Chart of the Day

The US still looks expensive relative to the rest of the world, except for Denmark.
Strategy
- How various tactical asset allocation strategies performed in July 2018. (allocatesmartly.com)
- The biggest stocks got there on their merits, not hype. (morningstar.com)
- Man cannot live on single factors alone. (aaii.com)
Warren Buffett
- Check out Warren Buffett's first television interview (ritholtz.com)
- Worth noting: Warren Buffett operated under the radar for a long time. (pointsandfigures.com)
- How Warren Buffett's principles influenced Brad Feld. (medium.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
Apple
- Apple's ($AAPL) was not an inevitability. (nytimes.com)
- The Apple ($AAPL) Watch is just scratching the surface of its potential. (om.co)
- Why Apple ($AAPL) shouldn't let the Mac die on the vine. (engadget.com)
- Why does Apple ($AAPL) still include a crappy charging solution for iPhones? (anildash.com)
- Why MacOS needs a power save mode. (marco.org)
Finance
- Brokerage sweep accounts are "rife with conflicts." (blogs.wsj.com)
- The big banks are in no rush to raise the rates they pay on consumer deposits. (bloomberg.com)
Fund management
- Hedge funds are going to great lengths to recruit quants against the likes of Google. (ft.com)
- Jack Bogle still doesn't get enough credit for being a revolutionary. (qz.com)
- Zero-fee funds are a loss-leader for Fidelity. (citywireusa.com)
Economy
- The July NFP report has an unemployment rate starting with a 3. (calculatedriskblog.com)
- 8 charts of July NFP data. (blogs.wsj.com)
- Male employment have yet to bounce back all the way. (bloomberg.com)
Earlier on Abnormal Returns
- Podcast links: Apollo 8 remembered. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: deal access. (abnormalreturns.com)
- On the value of being proven incorrect in investing. (abnormalreturns.com)
- Chart goodness vs. chart crimes. (abnormalreturns.com)
Mixed media
- Seth Godin, "Quietly, over the last thirty years, engineering has become dramatically more efficient and effective." (seths.blog)
- There are more "spies" around the world than you think. (bloomberg.com)
- If you want to keep sharks in your home aquarium you probably have more money than you need. (wsj.com)