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Quote of the day
“It wasn’t until my mid-30s that I finally got to see some very successful people up close for long enough to notice a strong pattern: the most successful have a lot more energy and stamina than do others.” – Robin Hanson
Chart of the day
Even after a bit of a pullback, bond performance YTD is impressive. (Capital Spectator)
Strategy
- Plain-vanilla investors have had it pretty good for a long time. (theirrelevantinvestor.com)
- If the 60/40 portfolio is dead, what comes next? (marketwatch.com)
Value investing
- Joachim Klement, "The challenge with becoming a value investor is that it is going against our natural impulses as investors." (klementoninvesting.substack.com)
- The Fall 2019 issue of the value-focused Graham & Doddsville from Columbia University is out. (marketfolly.com)
Companies
- Google ($GOOGL) has a vision for 'ambient computing.' The problem is that it has to sell it to consumers. (stratechery.com)
- It's hard to underestimate the growing role that private equity has had on the US economy. (institutionalinvestor.com)
Credit cards
- Why credit card interest rates remain stubbornly high: generous rewards programs. (wsj.com)
- Apple ($AAPL) and Goldman Sachs ($GS) are, for now, being picky about approving Apple Card applications. (markets.businessinsider.com)
Fund management
- Stock trading may now be free, but trading mutual funds may still cost you. (barrons.com)
- OCIOs are currently getting fired not for poor performance but for a failure to communicate. (institutionalinvestor.com)
Global
Farming
- The USDA spends nearly nothing on helping farmers adapt to climate change. (politico.com)
- Hemp farming has come to Indiana. The question is now what to do with it all. (indystar.com)
- How new hybrids could reduce the nitrogen demands of corn. (modernfarmer.com)
Economy
- National homebuilder confidence hit a new high in October. (calculatedriskblog.com)
- The yield curve has dis-inverted. (econbrowser.com)
- Long-term inflation expectations are still pretty darn low. (wsj.com)
Earlier on Abnormal Returns
- Personal finance links: appropriate context. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: personality and price. (abnormalreturns.com)
- We recently celebrated the fourteenth of anniversary of this blog. (abnormalreturns.com)
