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Quote of the Day
"The era of men in their 50s managing money based on their whims is coming to an end."
(Torbjorn Olofsson via Love Liman)
Chart of the Day

BBB-rated bonds now make up nearly 50% of the investment grade corporate bond index.
Strategy
- John Rekenthaler, "Sometimes stocks do cost too much. But recognizing when that situation arises, and profiting from the knowledge, is a severe task." (morningstar.com)
- You don't need a perfect portfolio, just one you can live with. (moneymaven.io)
- We should treat our ideas as hypotheses not conclusions. (traderfeed.blogspot.com)
Companies
- Tax reform unleashed a wave of share buybacks especially among cash-rich tech firms. (ft.com)
- The market for legal sports betting could be larger than currently thought. (institutionalinvestor.com)
Finance
- Three broad areas where the financial services industry earns its own keep. (bloomberg.com)
- Yahoo Finance is planning to launch a premium subscription service. (axios.com)
Funds
- A closer look at the Invesco S&P 500 Equal Weight ETF ($RSP). (morningstar.com)
- JP Morgan ($JPM) ETFs rely heavily on the bank for their AUM. (etf.com)
Economy
- Small business optimism ticked down in October. (calculatedriskblog.com)
- By this measure US GDP is running above its potential. (capitalspectator.com)
Earlier on Abnormal Returns
- Research links: squeezing alpha. (abnormalreturns.com)
- There are no shortcuts to real news. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: meaningful investment discussions. (abnormalreturns.com)
- There is no single formula for success. (abnormalreturns.com)