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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.”
Markets
- The 10 year-3 month yield curve is no longer inverted. (axios.com)
- On the disconnect between oil prices and energy stocks. (koyfin.com)
Strategy
- High yield bonds combine the worst aspects of bonds AND stocks. (bloomberg.com)
- How to give your portfolio a Spring cleaning. (morningstar.com)
- Why we are so loathe to change our minds. (theirrelevantinvestor.com)
Crypto
- How to think about a 1% portfolio allocation to Bitcoin. (moneymaven.io)
- On the prospects for Bitcoin ever being 'digital gold.' (etf.com)
Companies
Finance
- How big a deal is AI-powered trading? (fnlondon.com)
- Unbeknownst to you, your credit card transactions data is driving the alternative data business. (cnbc.com)
- Another big player is jumping into the iBuyer space. (marketwatch.com)
Funds
Global
Economy
Work
- Do you really want to be a manager? (m.signalvnoise.com)
- Diversity training doesn't change behavior. (ft.com)
- What (casual) shoes should you wear to work? (theatlantic.com)
Earlier on Abnormal Returns
- Personal finance links: mastering cash flow. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: reading the papers. (abnormalreturns.com)
- Teaching the basics of financial literacy with Tony Isola. (abnormalreturns.com)