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Quote of the Day
"Photography used to be a chemistry problem but as arithmetic became cheap we transitioned to an arithmetic based solution."
(Avi Goldfarb)
Markets
- Cash doesn't outperform stocks and bonds that often, welcome to 2018. (awealthofcommonsense.com)
- Why 2018 feels so awful to investors. (thereformedbroker.com)
- Hedge funds are experiencing their worst year since 2008. (allaboutalpha.com)
Strategy
- Why it is so easy, but not necessarily wise, to compare different market regimes. (theirrelevantinvestor.com)
- Valuing any security is an exercise in uncertainty. (intrinsicinvesting.com)
Crypto
Companies
- Speaking of concentration, Apple ($AAPL) and Google ($GOOGL) have effective control over their mobile apps. (avc.com)
- Seth Levine, "The imposition of tariffs and other policies aimed at altering the existing, global supply chain essentially impairs the value of companies." (integratinginvestor.com)
Finance
- Don't let your broker switch your sweep account from a higher yielding money market to a bank deposit. (sfchronicle.com)
- Regulation changes behavior, even when it isn't implemented. (evidenceinvestor.com)
- Pension funds are upping the riskiness of their real estate bets. (wsj.com)
Fund management
- Fidelity’s Zero Total Market Index and Zero International Index funds have attracted $1.8bn in total. (ft.com)
- Some sectors, like blockchain and AI, that attracted a lot of new ETFs in 2018. (etf.com)
Global
Economy
- The Chicago Fed National Activity Index (CFNAI) showed growth in October. (calculatedriskblog.com)
- How so-called 'secondary cities' are becoming centers for jobs growth. (wsj.com)
- Millennials are moving out of their parent's homes and buying their own. (ey.com)
Earlier on Abnormal Returns
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
