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Quote of the Day
"It appears that fund investors have become less inclined to chase performance in the two decades since, as strong returns within a given category no longer mean retail money will follow."
(Kevin McDevitt)
Chart of the Day

It’s hard to argue that US stocks are cheap relative to the rest of the world.
Markets
Strategy
- How to use behavioral finance in asset management. (ritholtz.com)
- We all bring our own baggage when it comes to trading and investing. (traderfeed.blogspot.com)
Blogosphere
- The top 5 (investment) bloggers of 2018. (becomeabetterinvestor.net)
- The next 5 (investment) bloggers of 2018. (becomeabetterinvestor.net)
Crypto
Companies
- Industrial conglomerates: out. Technology conglomerates: in. (axios.com)
- Should dual-class shares be banned? (hbr.org)
Funds
- How have the last decade's 'bond kings' performed since then? (citywireusa.com)
- It's never a good sign when a hedge fund manager get profiled for their extraordinary returns. (wsj.com)
- Most asset management mergers don't move the needle. (ft.com)
Economy
- The SM Manufacturing index increased to 59.3 in November. (calculatedriskblog.com)
- Lower oil prices are no longer an unmitigated good for the US economy. (wsj.com)
Earlier on Abnormal Returns
- Adviser links: millennial cord cutters. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)