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Quote of the Day
"Operating a business is a daily knife fight. You get out of bed armed, stave off an onslaught of attacks, then stumble into bed at night and try to get some rest. As you can imagine, sitting still in the quiet of your thoughts and contemplating distant opportunities seems laughable."
(Brent Beshore)
Chart of the Day
By this measure in 2018, hedge funds had their worst year since 2008.
Markets
Strategy
- A nice round-up of some lessons learned from Jack Bogle's long career. (nytimes.com)
- 'Japan' is not a valid argument against investing for the long-term. (theirrelevantinvestor.com)
Companies
- When is the dissolution of a marriage is material to a company? (nytimes.com)
- Amazon.com ($AMZN) has gotten so bit it has a discovery problem. (theatlantic.com)
- Netflix ($NFLX) is at the center of the war for your attention. (howardlindzon.com)
Funds
- Ben Johnson, "The metamorphosis from measure to target to active management has sucked the meaning out of the term "index." (morningstar.com)
- On the ongoing move away from actively managed mutual funds. (bloomberg.com)
Global
- The small state of Sikkim, in India, is planning to implement a universal basic income. (washingtonpost.com)
- Jamaica has a stock market and its doing pretty well. (bloomberg.com)
- How to play a Canadian recession. (bnnbloomberg.ca)
Economy
- Industrial production rose in December. (calculatedriskblog.com)
- Economic momentum is slowing but is nowhere near recessionary levels. (capitalspectator.com)
Earlier on Abnormal Returns
- Podcast links: podcast discovery. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: lonely investors. (abnormalreturns.com)
- RIP, Jack Bogle. (abnormalreturns.com)
- A Q&A with Daniel Crosby author of "The Behavioral Investor." (abnormalreturns.com)
