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Quote of the Day
"If market-timing is flipping silver dollars, then value and momentum timing is flipping quarters, quality timing is flipping dimes, and BAB timing is flipping nickels. And flipping coins probably isn’t a sustainable strategy."
(Andrew Dickson)
Chart of the Day

American households are holding an above average amount of equities as a percentage of financial assets.
Markets
- A look at the current bull market in dividends. (crossingwallstreet.com)
- How much the US Aggregate Bond Index changed over time? (vanguardinstitutionalblog.com)
Crashes
- What if the stock market doesn't crash? (awealthofcommonsense.com)
- Stock market crashes explain why the wealthy are reluctant to put cash to work. (businessinsider.com)
Strategy
- Your investing strategy should be based on averages not exceptions. (ofdollarsanddata.com)
- Limiting bear market losses is more important than bull market gains. (marketwatch.com)
- The greatest challenge with investing in an active manager is timing. (behaviouralinvestment.com)
- How to invest in a world with overvalued US equities. (mutualfundobserver.com)
Crypto
Companies
- Amazon ($AMZN) has increased its minimum wage to $15/hour. (reuters.com)
- Why Jeff Bezos did it. (businessinsider.com)
- Any why its such a big deal for the US economy. (industryweek.com)
Finance
- How Starbucks ($SBUX) became a huge player in payments. (project-syndicate.org)
- Insurance companies are at the frontlines of climate change as they try to price (and predict) future weather patterns. (wsj.com)
ETFs
- Meb Faber is putting a big chunk of his net worth into this ETF. (mebfaber.com)
- Why you should look inside your narrow sector ETF. (pragcap.com)
Global
- How tariffs are affecting the Chinese economy. (blog.yardeni.com)
- Two reasons to buy Canadian dollars. (themacrotourist.com)
Earlier on Abnormal Returns
- Research links: ensemble methods. (abnormalreturns.com)
- ESG links: unsettled facts. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: effortful incompetence. (abnormalreturns.com)