Quote of the Day
"Investors have been voting with their pocketbooks for the past decade, consistently pulling money from active mutual funds and putting money into low-cost, predominantly index-based ETFs. Will the efficiency and tax advantages of ETFs be enough to lure them back? I remain, as always, a skeptic."
(Dave Nadig)
Chart of the Day
US bundled equity commissions have fallen by nearly half over the past decade.
Markets
- Big technological shifts put value investors behind the eight ball. (wsj.com)
- A review of the past decade of returns. (sellwoodconsulting.com)
- More and more trading is getting pushed to the end of the day. (finance.yahoo.com)
- Why you can safely ignore daily market reports. (retirementfieldguide.com)
- Are TIPS cheap? (advisorperspectives.com)
Strategy
- Avoiding drawdowns is laudable but ultimately counterproductive. (ofdollarsanddata.com)
- Don't let capital gains tax aversion trip up your rebalancing strategy. (vanguardblog.com)
- Resulting will often lead you down the wrong path. (blog.validea.com)
- These are the seven deadly sins of investing. (thereformedbroker.com)
Companies
- Wal-Mart ($WMT) got a bonus when it purchased India's Flipkart. (bloomberg.com)
- Shopify ($SHOP) has created a unique, powerful platform. (stratechery.com)
- Companies advertise on Amazon ($AMZN) because they feel they have to. (bloomberg.com)
- The biggest FTC fine in history boosted Facebook's ($FB) stock price. (theverge.com)
- So much for the IPO of AB-Inbev's ($BUD) Asian unit. (wsj.com)
Video
- Disney ($DIS) is on top now, but it may be overestimating the power (and longevity) of its brands. (variety.com)
- The streaming wars are upping the cost of the headline shows. (wsj.com)
- AMC Theaters' ($AMC) Stubs A-List has been a big success. (nypost.com)
- YouTube is experimenting with new ways for creators to bank coin. (techcrunch.com)
- TikTok is the new YouTube. (theatlantic.com)
Alternative assets
- What summer interns make at some of the biggest hedge funds. (news.efinancialcareers.com)
- Why don't more investors demand hurdle rates from their hedge fund managers? (institutionalinvestor.com)
- Nobody really needs private equity funds in their 401(k) plan. (morningstar.com)
- Why do PE secondaries trade at a premium? (institutionalinvestor.com)
Fund management
- Professional investors are hopelessly biased just like the rest of us. (wsj.com)
- Charlie Ruffel, "The age of asset gatherers has peaked and the asset management industry is re-entering the age of the boutique, where it began." (ft.com)
- The Russell 2000 Index is "not the best small-cap index around." (morningstar.com)
- How to assess the liquidity of your mutual fund. (morningstar.com)
Global
- China's economy is growing at its slowest rate in 30-years. (ft.com)
- Why don't we use Coordinated Universal Time or UTC? (wsj.com)
- Some Euro-denominated junk bonds are now trading with negative yields. (wsj.com)
Housing
Economy
- A review of ten economic questions for 2019. (calculatedriskblog.com)
- How to think about the ebb and flow of economic data. (thereformedbroker.com)
- Why predicting economic downturns is so tricky. (priceactionlab.com)
- How logistics have helped shape and change the business cycle. (wsj.com)
Earlier on Abnormal Returns
- Adviser links: encroaching on RIA territory. (abnormalreturns.com)
- Blogger wisdom: wrapping things up. (abnormalreturns.com)
