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Quote of the Day
"I suspect this is how most people think of their real estate purchases – they remember the purchase price and the sale price and forget all the negatives in between."
(Cullen Roche)
Chart of the Day

Ten equity themes over the past decade including a look at US equity market drawdowns. (via @koyfincharts)
Markets
- 2019 stock market performance looks so good because December 2018 was so bad. (ritholtz.com)
- On the importance of identifying what kind of regime we are in. (demonetizedblog.com)
- Low starting bond yields are going to make things tough on global pension funds. (factorresearch.com)
Lists
- These are the best charts from the past decade. (awealthofcommonsense.com)
- The best-performing stocks of the past decade. (thereformedbroker.com)
FinTwit
- The 12 days of Christmas, FinTwit-style. (bpsandpieces.com)
- Which Twitter-type are you? (theirrelevantinvestor.com)
Companies
- Amazon ($AMZN) is re-upping its spat with FedEx ($FDX). (wsj.com)
- DuPont ($DD) is combining its food business with International Flavors & Fragrances ($IFF). (cnn.com)
- Netflix's ($NFLX) growth is now coming largely from outside North America. (axios.com)
- How Boeing's ($BA) 737 woes could impact the broader economy. (nytimes.com)
Funds
- Goldman Sachs ($GS) is re-emphasizing its alternative investments unit to compete with the Blackstones of the world. (ft.com)
- The most searched ETFs of 2019. (etf.com)
Global
- The British Pound is back to where it was before the recent election. (ftalphaville.ft.com)
- Vanguard and Ant Financial have established a joint venture. (businessinsider.com)
- Super-low interest rates are fueling a house price boom in cities like Frankfurt, Amsterdam, Stockholm, and Madrid. (nytimes.com)
Economy
- Mark Thoma may the best economics blogger in history. (bnnbloomberg.ca)
- There are many parallels between the lives Felix Rohatyn and Paul Volcker. (ritholtz.com)
Earlier on Abnormal Returns
- Research links: restatement recidivists. (abnormalreturns.com)
- In today's Market Moment I look back the impact the Wright Brothers' first flight at Kitty Hawk had on the world in the 20th century. (shows.pippa.io)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: problem solved. (abnormalreturns.com)