E-MAIL ALERT: We have noticed an uptick in our daily e-mails getting caught in spam filters, especially for Yahoo e-mail addresses. If you haven’t received our daily e-mail digest in a while this may be the reason why. Please add newsletter-at-abnormalreturns.com (replace -at- with @) to your address book or whitelist. You may also need to re-subscribe. If so, head on over here. Thanks for your patience and assistance.

Quote of the Day

"The problem with active management isn’t that active managers are especially dumb and prone to bad decisions. The problem with active management is that it asks us to pay fees to bet on a zero-sum game, which as Charlie Ellis reminds us, is definitionally a loser’s game."

(Rusty Guinn)

Chart of the Day

REITs have crushed it in the past year.

(capitalspectator.com)

Disclaimer: Nothing on this site should ever be considered to be investment advice, research or an invitation to buy or sell any securities. Please see the Terms & Conditions page for a full disclaimer. As an Amazon Associate we earn from qualifying purchases.