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Quote of the day
“Learning from others is a huge part of investing – every mistake has already been made and you can add years to your life learning from them vicariously.” – Morgan Housel
Chart of the day

Momentum seems to be mean-reverting. (CSS Analytics)
Markets
- Momentum crashes are not all that unusual. (wsj.com)
- Mortgage rates soared this week. (calculatedriskblog.com)
Strategy
- Open-mindedness is important but challenge to cultivate. (mrzepczynski.blogspot.com)
- It's really easy to overthink things. (silverlightinvest.com)
- Some choice quotes from Peter Lynch. (novelinvestor.com)
Finance
Funds
Energy
- Why the attack on Saudi Arabia's oil infrastructure IS a big deal. (wsj.com)
- What T. Boone Pickens got right about the changing energy landscape, and what he didn't. (finance.yahoo.com)
Policy
- The US has skimped on infrastructure for so long. Low interest rates give us the opportunity to fix that. (ritholtz.com)
- More flexible pay practices can effectively help employees avoid overdraft and late fees. (wsj.com)
- Gen X may never get a President of their own. (theatlantic.com)
- There is a huge mismatch in the marriage market. (onlinelibrary.wiley.com)
- Labor shortages are forcing farmers to use even more technology. (nytimes.com)
- A Q&A with Enrico Moretti about economic geography. (richmondfed.org)
Economy
- A succinct summary of the week's economic events. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Longform links: messy reality. (abnormalreturns.com)