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Quote of the Day
"The simple but hard to follow rule is this: Only borrow money to buy things that go up in value."
(Seth Godin)
Chart of the Day
New home sales are on track for their highest level since 2007. (via @lenkiefer)
Markets
- Gold loves negative yields. (global-macro-monitor.com)
- So many assets are at all-time highs. (howardlindzon.com)
Strategy
- Big winners often come with big drawdowns. (theirrelevantinvestor.com)
- Smarter people are better investors, but not for the reason you think. (ofdollarsanddata.com)
- Is value still of value? (humbledollar.com)
Crypto
- Facebook's ($FB) popularity makes Libra viable. (stratechery.com)
- How Libra kinda, sorta looks like a ETF. (etf.com)
- Libra: economics of Facebook’s cryptocurrency. (econbrowser.com)
Companies
- A big deal: AbbVie ($ABBV) buying Allergan ($AGN). (nytimes.com)
- Marketers would love to be able to pull back from the duopoly of Google ($GOOGL) and Facebook ($FB). (cnbc.com)
- Lyft ($LYFT) and Uber ($UBER) aside the big IPOs have done well in the aftermarket. (nytimes.com)
Finance
- Is Ameribor the new Libor? (barrons.com)
- JP Morgan ($JPM) is building a portfolio analytics platform to rival Blackrock's ($BLK) Aladdin. (institutionalinvestor.com)
- Two Sigma wants to take a crack at the Shanghai market. (ft.com)
- MBS backed by HELOCs are back... (wsj.com)
- The math behind 100-year bonds is nuts. (ftalphaville.ft.com)
Funds
Global
Student loan forgiveness
- How much would it costs to forgive student loan debt? No one really knows. (slate.com)
- Will the Bernie Sanders plan to wipe out student debt crush the stock market? (youtube.com)
Economy
- The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index showed a 3.5% annual gain in April. (calculatedriskblog.com)
- The labor market is awash in contradictory evidence. (ritholtz.com)
Earlier on Abnormal Returns
- Research links: risk premia choice. (abnormalreturns.com)
- In today's Market Moment I talked about Microsoft's ($MSFT) move from New Mexico to Washington. (shows.pippa.io)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: confusing and misleading. (abnormalreturns.com)
- Picking up plastic straws in front of an oncoming steam roller. (abnormalreturns.com)
- Ready or not, e-commerce for real estate is here! (abnormalreturns.com)
