This is an early (and abbreviated) edition of our daily linkfest. Thanks for checking in with us! You can stay up-to-date with all of our posts by signing up for our daily e-mail newsletter.
Quote of the Day
"What number would your net worth have to reach, as a result of a market crash, for you to give up all hope and sell your equities?"
(Nick Maggiulli)
Chart of the Day

Households are holding a large percentage of their portfolios in equities. (via @TihoBrkan)
Markets
- The end of easy money is here. (pensionpartners.com)
- The business cycle hasn't been repealed but get used to longer cycles. (morningstar.com)
Strategy
Crypto
- Fidelity Digital Asset Services will custody cryptocurrencies for institutional investors. (cnbc.com)
- Tether is the second most heavily traded cryptocurrency. (ftalphaville.ft.com)
- Europe loves token sales. (businessinsider.com)
Netflix
- Netflix ($NFLX) really wants to win an Academy Award. (wired.com)
- How Netflix ($NFLX) spoiled viewers rotten. (bloomberg.com)
Earlier on Abnormal Returns
- Research links: uncertain hedges. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: financial gobbledygook. (abnormalreturns.com)
- Two lessons learned from thirteen years of blogging. (abnormalreturns.com)