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Quote of the day
M.G. Siegler, “The iPhone is now officially a camera.” (500 Words)
Chart of the day

World economic sentiment is improving. (SentimenTrader)
Strategy
Funds
- John Rekenthaler, "Replication funds have few assets, and they are unlikely to attract new buyers anytime soon." (morningstar.com)
- Why attacks on passive investing are never going to stop. (evidenceinvestor.com)
Ultralong bonds
- The Treasury Department is studying whether to issue 50-year "ultralong" bonds in 2020. (nytimes.com)
- Universities are already issuing ultralong bonds to take advantage of low rates. (wsj.com)
Economy
- Tim Duy, "So either the economy stabilizes with a total of up to 75 basis points of easing or rates are going to zero. I am not seeing much room in between these two outcomes..." (finance.yahoo.com)
- TIPS-derived inflation measures have stopped going down. (capitalspectator.com)
- Even the inversion of the yield curve can be politicized these days. (linkedin.com)
Earlier on Abnormal Returns
- Podcast links: subscription models. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Startup links: tactics vs. execution. (abnormalreturns.com)