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Quote of the day
“When times are good, it’s easy to fall into traps that result in justifying speculative investments. Should you have an interim success, and the chances are you will make an even more concentrated and riskier subsequent investment.” – David Schawel
Chart of the day
What all-time highs look like for the broad market. (All Star Charts)
Markets
- International stocks are perking up. (thereformedbroker.com)
- The S&P 500 hit new all-time highs yesterday. (crossingwallstreet.com)
- On the prospects for a year-end rally. (thereformedbroker.com)
- On the bond apocalypse that never came. (monevator.com)
Strategy
- Why there's never been a better time to be an individual investor. (fortune.com)
- Why you can't read too much into the CAPE at any point in time. (ofdollarsanddata.com)
- Some additional thoughts on the value manager slump. (morningstar.com)
- Why do people think that property investments are so much better than stocks? (klementoninvesting.substack.com)
- Don't mistake stale pricing for low correlations. (behaviouralinvestment.com)
Uber and Lyft
- Uber ($UBER) is launching more financial services features. (cnbc.com)
- Lyft ($LYFT) wants to get into the subscription rides business. (axios.com)
Amazon
- Amazon ($AMZN) is getting rid of grocery delivery fees for Prime members. (marketwatch.com)
- Why Whole Foods shoppers feel outnumbered by people filling online orders. (wsj.com)
Apple
- Apple ($AAPL) is by no means guaranteed success in video streaming. (washingtonpost.com)
- There is no slowdown in Apple ($AAPL) hiring plans. (media.thinknum.com)
- The scoop on the new Airpod Pros. (variety.com)
Finance
- JP Morgan ($JPM) is contemplating moving more jobs out of New York City. (pionline.com)
- Post-GFC, the SEC was supposed to more closely regulate the credit ratings agencies. Guess what happened? (wsj.com)
- The Nasdaq is using AI to help ferret out suspicious stock trades. (fortune.com)
- Forget credit cards, Americans are bingeing on online installment loans. (finance.yahoo.com)
Fund management
- Hedge funds are reacting to losing assets by hiring more marketers. (institutionalinvestor.com)
- How Aventis is building a suite of ETFs to out-DFA, DFA. (riabiz.com)
- Why the thematic ETF space keeps growing. (etf.com)
Economy
- There are signs of life in the US manufacturing sector. (finance.yahoo.com)
- The Case-Shiller national house price index for August showed a 3.2% increase in home prices. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Research links: overfit models. (abnormalreturns.com)
- In today's Market Moment we look at two lessons we can take away from Black Tuesday. (shows.pippa.io)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: client-facing time. (abnormalreturns.com)
- Big life transitions happen whether we want them to or not. (abnormalreturns.com)
Mixed media
- There are 300,000 unfilled teaching jobs in the US. (axios.com)
- The percentage of Americans donating to charity is in decline. Blame, in part, declining religiosity. (marketwatch.com)
- How bowling alleys made a comeback in the US, think cocktails. (finance.yahoo.com)
- On the origin (and proliferation) of the 'sexy' costume idea. (washingtonpost.com)
