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Quote of the Day
"The Bronze Age was a big leap forward because it was one of the first times humans learned how to make two plus two equal six."
(Morgan Housel)
Markets
- Junk bonds have had a great start to the year. (capitalspectator.com)
- Poor market performance is no panacea for active managers. (indexologyblog.com)
- How to assemble a DIY global portfolio. (zeninvestor.org)
Strategy
- Worried about investing in emerging markets? Try a low vol approach. (blackrockblog.com)
- On correlation, diversification and the importance of return dispersion. (blogs.cfainstitute.org)
Crypto
- The QuadricaCX story just keeps getting weirder. (wsj.com)
- Blockchain doesn't solve the problems it claims to do. (wired.com)
Spotify
- Spotify ($SPOT) is falling in line with other big aggregators. (stratechery.com)
- Spotify ($SPOT) really is trying to become the Netflix ($NFLX) for your ears. (medium.com)
- Why Spotify's ($SPOT) move into podcasting is out of weakness not strength. (slate.com)
- Will Spotify's ($SPOT) move make podcasts go mainstream? (washingtonpost.com)
Finance
- It's been awhile since we had a big bank merger. (wsj.com)
- Very few companies issue audited quarterly earnings reports. (marketwatch.com)
- The Forbes Fintech 50. (forbes.com)
Fund management
- Asset manager profit margins have fallen to levels seen a decade ago. (institutionalinvestor.com)
- Asset managers can't stay in the muddled middle and survive. (bloomberg.com)
Economy
- Weekly initial unemployment claims have ticked up a little bit. (calculatedriskblog.com)
- Low commodity prices are driving another wave of farm bankruptcies. (wsj.com)
Earlier on Abnormal Returns
- A Q&A with Jacob Taylor author of "The Rebel Allocator." (abnormalreturns.com)
- Startup links: aging unicorns. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: funding your liabilities (abnormalreturns.com)
- A Q&A with Brent Beshore author of “The Messy Marketplace: Selling Your Business in a World of Imperfect Buyers.” (abnormalreturns.com)
- Ten charts that demonstrate investing is hard. (abnormalreturns.com)