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Quote of the Day
"Sometimes people forget that putting money into the stock market gives you an ownership stake in actual businesses that produce regular cash flow which they pay out to their investors."
(Ben Carlson)
Markets
- The first five trading days of the year tell you nothing about what will transpire later that year. (marketwatch.com)
- Dollar cost averaging is not a panacea, but what's the alternative? (theirrelevantinvestor.com)
Strategy
- How to estimate 30-year equity market returns. (morningstar.com)
- Notes from the Sohn London Conference (marketfolly.com)
Crypto
Companies
- Apple ($AAPL) is opening up its ecosystem, a la Microsoft ($MSFT). (wsj.com)
- Amazon ($AMZN) is set to take ad share from Facebook ($FB). (recode.net)
- The dollar-store space is overbuilt. (media.thinknum.com)
Finance
- US investors should not discount the importance that the stability of the rule of law for equity investments. (thereformedbroker.com)
- Slack is planning for a direct listing, a la Spotify ($SPOT). (wsj.com)
- Corporations and PE firms were big players in venture capital funding in 2018. (institutionalinvestor.com)
Hedge funds
- The hedge fund industry is hurting. What does that mean for prime brokers? (ft.com)
- Nicholas Kapur of SumZero talked early-stage hedge fund investing with James Haddaway of Satori Capital. (sumzero.com)
Vanguard
- Vanguard is going to end the purchase of leveraged and inverse ETFs on its brokerage platform. (fa-mag.com)
- Vanguard is recommending clients increase their equity holdings to 40% international. (advisorhub.com)
Funds
- Is active bond management simply a credit risk play? If so, it helps negate the diversification potential of bonds. (nytimes.com)
- Five tips for trading ETFs, including using limit-orders. (morningstar.com)
Economy
- Still few signs of consumer inflation on the horizon. (crossingwallstreet.com)
- Recent policies are putting constraints on the homebuilding economy. (theatlantic.com)
- Do economic booms die of old age or are they murdered? (bloomberg.com)
Earlier on Abnormal Returns
- Podcast links: negative thinking. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: flyover deals. (abnormalreturns.com)
- Why study market history if it can't tell us what will happen in the future? (abnormalreturns.com)
