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Quote of the Day
"There is a difference between an expert, whose talent should always be celebrated, and a guru, whose flaws should never be questioned. With few exceptions we should praise experts but be terrified of gurus."
(Morgan Housel)
Markets
- You don't need a recession for there to be a pullback in the stock market. (awealthofcommonsense.com)
- On the parallels between markets in 1998 and 2019. (finance.yahoo.com)
- What is the distinction between an 'investment principle' and an 'investment view'? (behaviouralinvestment.com)
- A five step investment strategy checklist. (mrzepczynski.blogspot.com)
Crypto
Retail
- Retailers keep chasing Amazon ($AMZN) but never really catch up. (nytimes.com)
- There is little evidence brick and mortar retailers will make gains this holiday season. (ft.com)
- Allbirds claims Amazon ($AMZN) ripped off their designs. (bloomberg.com)
- "Dick’s Sporting Goods‘ ($DKS) decision to stop selling guns hasn’t hurt its bottom line." (fastcompany.com)
Companies
- CVS ($CVS) has attracted an activist investor. (wsj.com)
- Softbank shareholders are getting cranky. (wsj.com)
Schwab-TD Ameritrade
- Dave Nadig, "Schwab is positioned to do some very, very interesting things. " (etf.com)
- Why TD Ameritrade ($AMTD) came to the table. (fa-mag.com)
- What TD Bank is getting the Schwab ($SCHW) deal. (wsj.com)
- The Schwab-TD combination will unleash another wave of disruption. (pointsandfigures.com)
Fund management
Books
- Michael Batnick, "Business books are better than books about business." (theirrelevantinvestor.com)
- A look at "Return Of The Active Manager" by C. Thomas Howard and Jason Apollo Voss (charlessizemore.com)
- Four invsestment books including "Against the Gods: The Remarkable Story of Risk" by Peter Bernstein that have stood the test of time. (humbledollar.com)
Economy
Earlier on Abnormal Returns
- Research links: divergent minds. (abnormalreturns.com)
- A return of supersonic air travel would be welcome for travelers but it is nowhere near happening. In today's Market Moment I look at the legacy of the Concorde. (shows.pippa.io)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: a BIG deal. (abnormalreturns.com)
- Shifting gears in retirement isn’t easy. (abnormalreturns.com)
