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Quote of the Day
"I'm not on recession watch, and I expect further growth in 2020, but the future isn't as bright now."
(Bill McBride)
Chart of the Day
The market pullback induced a spike in the $VIX. (via @charliebillelo)
Markets
- How are managed futures doing YTD? (rcmalternatives.com)
- These are the best performing stocks of the past decade. (zeninvestor.org)
Strategy
- In aggregate institutional and individual investors don't invest all that differently. (morningstar.com)
- Three big mistakes investors make according to Morgan Housel. (thereformedbroker.com)
Companies
- Jack Dorsey, CEO of Twitter ($TWTR) and Square ($SQ), plans to live in Africa for half of 2020. (cnbc.com)
- Facebook ($FB) relies almost entirely on advertising revenue. (axios.com)
- Why is Roku ($ROKU) stock so expensive? (bloomberg.com)
Online shopping
- Porch pirates are ruining the online shopping experience for everyone else. (nytimes.com)
- A short holiday season will make things tougher on shippers like FedEx ($FDX) and UPS ($UPS). (wsj.com)
- Now Amazon ($AMZN) delivery trucks are getting robbed. (businessinsider.com)
Finance
- Banks are now selling customers out to retailers. (latimes.com)
- Neuberger Berman’s Dyal Capital has a new fund to put to work in private equity firms and hedge fund management companies. (institutionalinvestor.com)
- The number of analysts covering European companies keeps shrinking. (ft.com)
ETFs
- Andrea Riquier, "The ETF universe is full of ideas that a smaller firm nurtured, only to see it replicated by another, often bigger, money manager." (marketwatch.com)
- Why Dave Nadig loves defined outcome ETFs. (etf.com)
- Smaller ETF managers are getting creative to breakthrough in a crowded space. (fa-mag.com)
- Non-transparent ETFs cause as many problems as they solve. (marketwatch.com)
Global
Economy
- How is US manufacturing doing? These two measures disagree. (axios.com)
- The US economy is going to have to rely on productivity growth over the next few years. (finance.yahoo.com)
Earlier on Abnormal Returns
- Research links: hard thinking. (abnormalreturns.com)
- ESG links: lacking prediction power. (abnormalreturns.com)
- Your harshest critic lives in your house and prevents you from making progress toward your goals. (abnormalreturns.com)
- Design matters. Just ask Apple's competitors. In today's Market Moment we look at what Jony Ive's departure from Apple means. (shows.pippa.io)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: making good decisions. (abnormalreturns.com)
- Cultivating passion and purpose in your life. (abnormalreturns.com)
Mixed media
- Morgan Housel, "A good reading filter is more art than science." (collaborativefund.com)
- The 10 best business books of 2019 including "How to Do Nothing: Resisting the Attention Economy" by Jenny Odell. (fortune.com)
- The best books of 2019 including "Underland: A Deep Time Journey" by Robert Macfarlane. (slate.com)
- The 20 best books of 2019 including "Magic Is Dead: My Journey Into the World’s Most Secretive Society of Magicians" by Ian Frisch. (insidehook.com)
- A list of best book lists for 2019. (kottke.org)
