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Quote of the Day
"We need open markets and strong allies to support economic growth and the prospects for peace. Those constructive American policies have been a large part of my life. Instead, confidence in the US is under siege."
(Paul Volcker)
Strategy
- Performance should not be the sole basis for an investment strategy. (blog.validea.com)
- Lessons learned from "T. Rowe Price: The Man, The Company, and The Investment Philosophy" by Cornelius Bond. (rationalwalk.com)
Retail
- Retailers are sick of paying high credit card fees like that on the Apple ($AAPL) Card. (bloomberg.com)
- Free shipping has never been free. (theatlantic.com)
Finance
- The story behind how Citadel Securities became a market making powerhouse. (finance.yahoo.com)
- Nearly every tech company looking to go public in 2020 is considering a direct listing. (cnbc.com)
- The Nasdaq is set to best the NYSE in new listings in 2019. (wsj.com)
Funds
- Zero fee ETFs have not been particularly successful at garnering assets. (investmentnews.com)
- Third party 403(b) administrators are not as independent as they seem. (wsj.com)
Real estate
- Startups are snapping up new apartments to put them on Airbnb. (wsj.com)
- What is a 'pop up hotel'? (venturebeat.com)
Global
Economy
- Martin Wolf, "In tackling today’s challenges, the details of what Volcker did are irrelevant. But his lessons are not: do the right thing even if the right choice is rather less obvious today; do not put your trust in unbridled finance; and have courage." (ft.com)
- The Fed is following economic debates on Twitter ($TWTR). (cnbc.com)
Earlier on Abnormal Returns
- Personal finance links: determining your benchmark. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: tempered expectations. (abnormalreturns.com)
- The best way to invest is the way that works for you and your unique situation. (abnormalreturns.com)
- Brands are not your friends. (abnormalreturns.com)
- Time arbitrage and the art of reading a book. (abnormalreturns.com)