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Quote of the day
“WeWork’s disastrous IPO attempt has triggered reverberations across the industry. The theme of consumer tech has shifted from magic to margins. Venture capitalists and start-up founders alike have re-embraced an old mantra: Profits matter.” – Derek Thompson
Chart of the day
What happened to the Smile Direct Club ($SDC) IPO? (Crunchbase, chart by Koyfin)
Markets
- Commodities have had a dismal decade. (monevator.com)
- There is no single risk premia that can be viewed as "antifragile." (mrzepczynski.blogspot.com)
Strategy
- Tony Isola, "Too many investors spend their precious time trying to answer the unknowable." (tonyisola.com)
- There are two problems with waiting for a stock market correction: when it comes and when it doesn't. (blairbellecurve.com)
- How past performance can be a misleading indicator for investors. (awealthofcommonsense.com)
Blogosphere
- How the Aleph Blog has changed over 3000 posts. (alephblog.com)
- If you are reading this, there is a good chance you are a lucky person. (rpseawright.wordpress.com)
Crypto
Companies
- If you can't make money shorting shopping mall debt, what can you make money on? (wsj.com)
- Big Meat is filling supermarket shelves with their plant-based meat products. (nytimes.com)
- Satellite broadband is coming. (axios.com)
- More signs of a pullback at Juul. (dealbreaker.com)
Funds
- What lessons can we draw from the downfall of Neil Woodford? (evidenceinvestor.com)
- RIP, iNAVs. (etf.com)
- The ETF Deathwatch for September 2019. (investwithanedge.com)
Economy
- Growth has clearly slowed but there is little sign of a recession on the horizon. (capitalspectator.com)
- It's hard to get a recession without a meaningful decline in new home sales. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Research links: personality and price. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: re-visiting custodial relationships. (abnormalreturns.com)
- We recently celebrated the fourteenth of anniversary of this blog. (abnormalreturns.com)
