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Quote of the Day
"The cornerstone of behavioral finance is that most people assume it’s a field whose documented flaws apply to other people, but not themselves. That’s because we judge others based solely on their actions, but when judging ourselves we have an internal dialogue that rationalizes what others identify as bad decisions."
(Morgan Housel)
Chart of the Day
The growing spread in duration between passive and active bond funds is notable.
Markets
- How (poorly) major asset classes performed in October 2018. (capitalspectator.com)
- The stock market is ignoring company earnings surprises. (thereformedbroker.com)
- A popular trend following model has exited stocks. (fat-pitch.blogspot.com)
- Seasonality is now on the side of the stock market. (quantifiableedges.com)
Strategy
- Down markets imply there are opportunities for tax-loss selling. (morningstar.com)
- Where the risk in a balanced portfolio lies. (awealthofcommonsense.com)
- Not all market information is to be treated the same. (mullooly.net)
Apple
- M.G. Siegler, "The Apple Watch Series 4 is not just an improvement in every way over the Series 3, it’s a significant improvement in a number of ways." (500ish.com)
- You're not getting the most out of your iPhone. (blog.fawny.org)
Finance
- The door is wide open for speculative, biotech IPOs. (wsj.com)
- Do SumZero analysts get paid according to the quality of their research? (ftalphaville.ft.com)
Funds
- Not all value (or growth) funds perform alike. (bloomberg.com)
- Along with ETFs, options on ETFs are growing in popularity. (ft.com)
Economy
- Weekly initial unemployment claims still indicate few layoffs. (calculatedriskblog.com)
- The ISM manufacturing index indicated expansion in October. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Startup links: flipping the switch. (abnormalreturns.com)
- What you missed in our Wednesday links. (abnormalreturns.com)
- Personal finance links: controlling the big costs. (abnormalreturns.com)
- Cash holders need a new drug. (abnormalreturns.com)
