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Quote of the Day
"My theory is that most investment models maximize for risk-adjusted returns, but in the real world every investor wants to maximize for sleeping well at night and being proud of themselves in a complicated world."
(Morgan Housel)
Markets
Strategy
- On the difference between worthwhile share buybacks and disguised management compensation schemes. (albertbridgecapital.com)
- How illiquid investments can help prevent us from making behavioral mistakes. (behaviouralinvestment.com)
- Bruce I. Jacobs’ "Too Smart for Our Own Good: Ingenious Investment Strategies, Illusions of Safety, and Market Crashes" looks at our experience with financial crises. (readingthemarkets.blogspot.com)
Technology
- The state of technology at the end of 2018. (stratechery.com)
- Elite law firms are having to keeping up with changing technologies. (ft.com)
Funds
- Why do we keep re-litigating the wisdom of index funds? (ritholtz.com)
- Entry #348 in the "big 3 index providers" are too big for comfort. (ft.com)
- What index investors need to know about securities lending. (morningstar.com)
- A zero-fee ETF is coming, sooner rather than later. (citywireusa.com)
Economy
Earlier on Abnormal Returns
- Personal finance links: living the frugal life. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: the emotional quant curve. (abnormalreturns.com)
