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Quote of the Day
"Back in the day, the mutual fund business had heroes and villains. It had stories. It offered the promise of miracles. Today, the industry has… packagers. It is the place where fun went to die."
(John Rekenthaler)
Strategy
- Once you take into account taxes active management has a much higher hurdle to overcome versus passive. (evidenceinvestor.com)
- "Behavioral Finance: What Everyone Needs to Know" is both an introduction to and a comprehensive but compact overview of behavioral finance." (blogs.cfainstitute.org)
- An astrology-based, stock picking app?!? Seriously. (ritholtz.com)
Companies
- This is a great illustration of how Google ($GOOGL) dominates online advertising. (wsj.com)
- Diversification attempts only work if they hit on a new, profitable business. (ft.com)
Streaming
- Apple ($AAPL) is not shy about putting its devices in its new Apple+ shows. (wsj.com)
- It would be hard to underestimate the importance of Disney Plus to the Mouse. (bloomberg.com)
- Roku ($ROKU) wants to be content-agnostic. (venturebeat.com)
- What everyone gets wrong about the streaming wars. (onezero.medium.com)
Finance
- Why banks backed WeWork despite qualms about Adam Neumann and the business model. (wsj.com)
- Apple ($AAPL) just issued a Euro-denominated green bond offering. (ft.com)
- Visa ($V) and Mastercard ($MA) are two of the biggest 'brand value' gainers over the past year. (visualcapitalist.com)
AirPod Pros
- Joanna Stern, "So yes, the new AirPods Pro are great. If sound quality or comfort is important to you, you’ll probably buy them." (wsj.com)
- The Apple ($AAPL) AirPod Pros are great, if you like in-ear headphones. (sixcolors.com)
Trends
- People have been talking about a four-day workweek for a long time, yet here we are. (nytimes.com)
- More Americans have cohabitated than have gotten married. (pewresearch.org)
- Office romances have been on the decline for a couple of decades. (ft.com)
Earlier on Abnormal Returns
- Podcast links: fighting human bias. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: a new era in biology. (abnormalreturns.com)
- Moving forward in your own skin. (abnormalreturns.com)
