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Quote of the day
Brian Niccol, CEO of Chipotle ($CMG), “When you get your burrito, give it a minute. Just give it a minute.” (Barron’s)
Chart of the day

Given all the chatter, are you surprised US stocks are just a couple percent below their all-time high? (@tihobrkan)
Markets
- About half of 2019 IPOs are in positive territory. (barrons.com)
- The Brooklyn Investor checks in on market valuations. (brooklyninvestor.blogspot.com)
- Descriptive statistics are not predictive. (priceactionlab.com)
- Don't underestimate the power of public markets. (scheplick.com)
Companies
- Peleton ($PTON) is not done building retail locations. (finance.yahoo.com)
- How is Old Navy going to fare as a standalone company? (fortune.com)
Finance
- Goldman Sachs' ($GS) push into retail finance has not gone as planned. (wsj.com)
- IEX was supposed to up-end the market for listings. It didn't turn out that way. (economist.com)
Funds
- Why the "indexing is a bubble" talk fell on deaf ears. (fortune.com)
- The SEC's new ETF Rule could lower fees even more. (barrons.com)
- New hedge fund launches are at a decade-low. (finance.yahoo.com)
Global
Policy
- Why the jobs apocalypse never happened. (nytimes.com)
- Income inequality pervades so many of the issues facing America. (tonyisola.com)
- Why a national health insurance option would increase entrepreneurial activity. (bloomberg.com)
- In close elections we should not be surprised to see mismatches between the popular vote and electoral college. (papers.ssrn.com)
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: declining religiosity. (abnormalreturns.com)