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Quote of the Day
"We rarely appreciate just how much inconsistency there is in the judgments we and others make, argues Prof Kahneman. It can hardly be a surprise, then, if past performance is no guarantee of future success."
(Tim Harford)
Markets
- If you are going to forecast returns, forecast for the long-run. (pragcap.com)
- Holding some cash can help you clear your head. (allstarcharts.com)
Crypto
- Facebook ($FB) is dead serious about launching its own crypto-coin. (bbc.com)
- Why Facebook ($FB) wants to launch its own currency. (ft.com)
- AT&T ($T) will now accept payments via BitPay. (theblockcrypto.com)
Companies
- Apple's ($AAPL) latest products have 'failed to read the room.' (500ish.com)
- VF Corp ($VF) spin-off, Kontoor Brands ($KTB) wants to be known as a "purpose led" clothing company. (marketwatch.com)
- News flash: company with actual earnings, Endeavor, files to go public. (hollywoodreporter.com)
- Why Amazon ($AMZN) bought a big stake in food delivery startup Deliveroo - think last mile logistics. (venturebeat.com)
Finance
- Top bankruptcy attorneys make in excess of $1500 an hour. (wsj.com)
- Unicorn-type companies are having a hard time finding experienced CFOs to lead them to a successful IPO. (wsj.com)
Money stuff
- How Schwab ($SCHW) let a client walk out the door without a peep. (howardlindzon.com)
- A first-hand account of converting Vanguard mutual fund shares into ETF shares. (etf.com)
- What does the House retirement savings bill mean for you? (pragcap.com)
Funds
- Tom Brakke, "Every investment organization ought to be focused on continuous improvement and becoming a decision factory first and foremost, but strong egos and established norms get in the way of that." (researchpuzzle.com)
- Opportunity Zone funds have been more hype than action, to-date. (institutionalinvestor.com)
- Rob Arnott is backing the new Alpha Architect Freedom 100 Emerging Markets ETF ($FRDM) with his own money. (citywireusa.com)
- Why David Tepper is returning outside capital. (institutionalinvestor.com)
- How Morningstar came up with its ~100 mutual fund categories. (morningstar.com)
Economy
- Cue the yield curve inversion talk, again. (econbrowser.com)
- Why new home sales matter so much for the economy. (calculatedriskblog.com)
- Farmers are experiencing their third year in a row of income drops. (modernfarmer.com)
- Who pays for tariffs on Chinese goods? (ftalphaville.ft.com)
Earlier on Abnormal Returns
- Podcast links: surviving Guns N' Roses. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: building food platforms. (abnormalreturns.com)
- Busting the Bernstein Curve: equity funds are now more than 50% passive. (abnormalreturns.com)
