Did you know you can stay up-to-date with all of our posts via our daily e-mail newsletter? Sign up today!
Quote of the day
“These days, it’s pretty rare for me to come across a new ETF launch that sparks genuine interest.” – Phil Huber
Chart of the day

Even after the big reversal momentum still holds a big lead over value. (Blackrock)
Markets
- Even a mild recession would put a dent in the stock market. (theirrelevantinvestor.com)
- Why are US corporate profit margins so high? (klementoninvesting.substack.com)
Strategy
- There are no secret investing rules out there to be learned. (ofdollarsanddata.com)
- Who cares how many time your fund manager meets with management? (albertbridgecapital.com)
WeWork
- It looks like JP Morgan ($JPM) backed the wrong horse in WeWork. (ft.com)
- The WeWork debacle highlights issues with the strategy behind Softbank's Vision Fund. (wsj.com)
- More questions about how Softbank values it's portfolio. (news.crunchbase.com)
Companies
- Who is to blame for the disaster that is Kraft Heinz ($KHC)? (nytimes.com)
- Budweiser Brewing Company APAC Ltd is the second largest IPO YTD. (reuters.com)
Technology
- Twitter ($TWTR) is explicitly banning forms of financial fraud. (engadget.com)
- More and more commerce is going to take place over chat and text. (ft.com)
Private equity
- Private equity firm EQT is now public. (ft.com)
- Wealthy families are interested in putting even more money into private equity. (institutionalinvestor.com)
Hedge funds
- Citadel Limited Partnership sold $500 million in investment-grade bonds earlier this month to fund a dividend to its owners. (wsj.com)
- Hedge funds don't like it when their employees leave to compete against them. (ft.com)
Economy
- The S&P/Case-Shiller numbers for July showed a 3.2% annual price increase (calculatedriskblog.com)
- The US grows way more corn than it needs. (bnnbloomberg.ca)
Earlier on Abnormal Returns
- Research links: long-run risk-parity. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: measuring value. (abnormalreturns.com)