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Quote of the Day
"Any time you are considering making an investment without taking into account both the quality of the company or asset being considered and the purchase price of the investment, beware - you may be putting your wealth in jeopardy, as many have done in decades past."
(Gary Mishuris)
Chart of the Day
A look at all the S&P 500 5% corrections since the March 2009 low. (via @charliebilello)
Markets
- Five reasons why stocks have fallen including rising interest rates. (bloomberg.com)
- Consumer staple dividend hikes have pretty much come to a halt. (intrinsicinvesting.com)
- Notes from the Sohn San Francisco Conference 2018. (marketfolly.com)
Strategy
- Historically interest rates are low, but the rise has gotten people's attention. (awealthofcommonsense.com)
- What happens historically if you invest at a market peak? (thereformedbroker.com)
- How to roll your own bonds. (sl-advisors.com)
- The core risk reduction tool is diversification. (mrzepczynski.blogspot.com)
Crypto
- Coinbase just raised capital at an $8 billion valuation (fortune.com)
- Bitcoin launched ten years ago: it changed everything AND nothing. (wired.com)
- Pump-and-dump schemes (are pervasive in the cryptocurrency market. (papers.ssrn.com)
Companies
Finance
- No wonder kids these days want jobs in private equity. (wsj.com)
- Some of the biggest hedge funds are locking down investor capital even further. (wsj.com)
Fund management
- Why aren't more managers (and clients) willing to experiment with performance fees? (morningstar.com)
- Boutique money managers generate more consistent performance. (institutionalinvestor.com)
Global
- This is not the first time someone has called for a revival in Japan's stock market. (economist.com)
Economy
- Fast food prices are finally feeling the pinch of higher costs. (wsj.com)
- Why more Americans are diversifying their gig economy portfolios. (bloomberg.com)
Earlier on Abnormal Returns
- Personal finance links: controlling the big costs. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: the factor zoo. (abnormalreturns.com)
- Cash holders need a new drug. (abnormalreturns.com)
- Principles before process: how to write an investment policy statement. (abnormalreturns.com)
