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Quote of the Day
"It turns out the killer app for investing isn’t about building models and picking stocks, it’s just communication—moving information from place to place. I’d argue there has been no greater impact on investor outcomes than the rise of Financial Twitter."
(Dave Nadig)
Chart of the Day
Initial jobless claims have been on a historical streak. (via @bespokeinvest)
Markets
- Stocks vs. bonds: why the yield on the 10-year TIPS matters. (crossingwallstreet.com)
- Remember the lost decade for stocks? (evidenceinvestor.com)
Strategy
- Ben Carlson, "Active managers will always set the prices, no matter how many there are." (awealthofcommonsense.com)
- Traders are getting wired up to monitor their vitals. (fnlondon.com)
Crypto
Companies
- J&J's ($JNJ) sterling reputation is taking a hit in the opioid crisis. (ft.com)
- Facebook's ($FB) dating service is coming to the US. (fastcompany.com)
Banking
- Investment banking revenue is at a decade-low. (ft.com)
- Goldman Sachs ($GS) is actively winnowing its roster of partners. (wsj.com)
Funds
- Morningtar is overhauling the way it assigns its widely followed fund analyst ratings. (institutionalinvestor.com)
- How bond ETFs came to be a $1 trillion thing. (visualcapitalist.com)
- If you are going to the Sohn Conference pay attention to the “next wave” hedge fund managers. (institutionalinvestor.com)
Economy
- The August August ISM Non-manufacturing Index is not following manufacturing down. (calculatedriskblog.com)
- More Americans than ever own stocks: the good and the bad. (qz.com)
- How (big) technology is affecting economic cycles. (wired.com)
Earlier on Abnormal Returns
- Startup links: gradual growth. (abnormalreturns.com)
- In the future every asset will be tradeable, even sports teams. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: better informed investors. (abnormalreturns.com)
- Monthly ESG links: understanding risks. (abnormalreturns.com)
