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

"More of the economic pie is being captured by the very top tier. This is also true within the hedge fund industry. They are the latest group to succumb to “Winner Take All” ethos."

(Barry Ritholtz)

Chart of the Day

Why everyone is expecting a blowout opening weekend for “Avengers: Endgame.”

(wsj.com)