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Quote of the Day
"It’s a grand conundrum for the world of finance. We desperately need to make forecasts to succeed but we are remarkably poor at doing so. The record of 2018 forecasters was, yet again, dreadful. I predict more of the same in 2019."
(Robert Seawright)
Markets
Strategy
- Stories sell, but what has changed is the stories themselves. (thereformedbroker.com)
- Why there is a symbiotic relationship between active managers and the financial media. (evidenceinvestor.com)
Asset allocation
- Some interesting recent posts on asset allocation. (allocatesmartly.com)
- How did David Swensen's recommended asset allocation for individual investors do over time? (valuestockgeek.com)
Amazon
- Is Amazon ($AMZN) a threat to banks? (forbes.com)
- Amazon ($AMZN) is trying to horn in on UPS ($UPS) and Fedex ($FDX) customers. (wsj.com)
Finance
Funds
- Bill Miller is managing money away from the spotlight and loving life. (institutionalinvestor.com)
- Starting a hedge fund has gotten significantly more difficult. (bloomberg.com)
- Why asset management M&A is likely to continue at a rapid pace. (institutionalinvestor.com)
Global
Economy
- Weekly initial unemployment claims dropped below 200k for the first time since 1969. (calculatedriskblog.com)
- Chemical activity slowed in January. (calculatedriskblog.com)
- Higher minimum wages have not wrecked the economy. (bloomberg.com)
- Where US land values are the highest (and lowest). (washingtonpost.com)
- What states (and occupations) are most at-risk to increased automation? (reuters.com)
- Owner-managers are quite productive. (marginalrevolution.com)
Earlier on Abnormal Returns
- Startup links: board misalignment. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: a little upfront effort. (abnormalreturns.com)
Mixed media
- Hustle is great, but you have to actually deliver on your promises. (awealthofcommonsense.com)
- How to use customer service as a differentiator. (seths.blog)
- When doing what you are good at hurts the team. (m.signalvnoise.com)
- Before looking for a new, see if your current employer is willing and able to meet your needs. (wsj.com)
