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Quote of the Day
"We should thank our lucky stars for living at a time when we can capture nearly all the return stocks produce."
(Jason Zweig)
Chart of the Day

Marijuana stocks have had a big turnaround in 2019. (chart via @koyfin)
Strategy
- Why the biggest companies always seem invincible at the time. (humbledollar.com)
- The case of Greece: why you should avoid home bias. (awealthofcommonsense.com)
"The Man Who Solved the Market"
- An excerpt from Gregory Zuckerman's "The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution." (wsj.com)
- Brandon Kochkodin, "Zuckerman provides the closest thing readers may ever get to a definitive account of how Jim Simons, a mathematics prodigy turned code-breaking savant, built Renaissance Technologies into the greatest money-making machine in Wall Street history. (bloomberg.com)
- Robin Wigglesworth, "For all Simons’ undoubted brilliance, the book makes clear that his skill was not inventing complex trading models and algorithms himself." (ft.com)
Companies
- Uber ($UBER) seems beset with challenges. (nytimes.com)
- How the Softbank investment in WeWork "transformed the start-up from a mere unicorn into something with nearly unlimited ambition." (nytimes.com)
Apple
- Has Apple ($AAPL) ever been in a better competitive situation? (howardlindzon.com)
- Stephen Pulvirent, "It's very clear to me that the days when the Apple Watch is nearly indispensable are coming – and probably faster than we think." (hodinkee.com)
- The new Apple ($AAPL) AirPod Pros "seems like the product of rapid iteration and invention and people having fun doing it." (fastcompany.com)
Amazon
- Where does Amazon ($AMZN) source its wildly popular AmazonBasics batteries? (onezero.medium.com)
- Amazon ($AMZN) has added 80,000 workers in the past year. (media.thinknum.com)
- The battle over wearables is only going to intensify. (wsj.com)
- What Google ($GOOGL) needs to do to not screw up its Fitbit acquisition. (engadget.com)
- Google ($GOOGL) is acquiring a trove of personal health data in Fitbit. (slate.com)
Global
- How did Switzerland become wealthy without extreme inequality? (nytimes.com)
- The most competitive economies ranked. (visualcapitalist.com)
Policy
- "Overall, billionaires' geographical location appears to be highly sensitive to state estate taxes." (papers.ssrn.com)
- "Financial incentives are nowhere near as powerful as they are usually assumed to be." (nytimes.com)
- The reasons why home ownership rates have not recovered to pre-GFC levels. (nytimes.com)
- Raising the minimum wage has not been a disaster for New York City restaurants and bars. (theconversation.com)
- US markets are not as free as we think they are due to increased monopoly power in a number of industries. (theatlantic.com)
- Some of the economic benefits to beauty come from increased educational attainment. (nber.org)
Economy
- A succinct summary of the week's economic events. (ritholtz.com)
- An 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: creative acts. (abnormalreturns.com)
- Building stuff to last: important for companies and your portfolio. (abnormalreturns.com)