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Quote of the Day
"I think picking individual stocks for your own account is a fool’s errand. I don’t do it."
(Richard Thaler)
2019 markets
- Market-wise, 2019 was unique, in part because 2018 was as well. (awealthofcommonsense.com)
- A visual representation of how every asset class performed in 2019. (visualcapitalist.com)
Markets
- Why T-bills are riskier than you think. (theirrelevantinvestor.com)
- This market cycle has run on so long because many on Wall Street have been fearful. (thereformedbroker.com)
- China's equity investors saw a 'lost decade' in the 2010s. (wsj.com)
Trading
- Not selling is an art. (howardlindzon.com)
- Don't be fooled by 'backtest billionaires.' (priceactionlab.com)
- Brett Steenbarger "The trader who does one thing consistently in all situations is not a disciplined trader. He is a one-trick pony." (traderfeed.blogspot.com)
Crypto
Companies
- Amazon's ($AMZN) AWS is the leader in cloud computing. Now the competition is fighting back. (wsj.com)
- US railroad companies shed 10% of their workorce last year. (washingtonpost.com)
- Apple's ($AAPL) performance in 2019 defied the whole 'big can't get much bigger' idea. (theirrelevantinvestor.com)
- The US auto industry hasn't had to deal with a sustained downturn in over a decade. (nytimes.com)
- Retail liquidators are in high demand. (wsj.com)
Finance
Funds
- It's hard to see a turnaround in active management mandates any time soon. (ft.com)
- ETF closures are not that big a deal. (barrons.com)
Policy
- Tyler Cowen, "I am not sure there is any analytical inaccuracy I see on Twitter more often than this one, namely to blame the Fed for being too conservative with monetary policy over the last few years." (marginalrevolution.com)
- The Global Finance Crisis was bad. In many ways the reaction was worse. (ritholtz.com)
- The 2010s "demonstrated that even a very good economy does not necessarily work for the middle class. The 2010s showed how bad everything could feel when everything was going great." (theatlantic.com)
- The Tax Cuts and Jobs Act has not lived up to the hype. (wsj.com)
- Studies show that cutting food stamps generate costs in other places, like health care. (theincidentaleconomist.com)
- This study shows a higher minimum wage ultimately hits company's bottom line. (economist.com)
- Some awards for the best work on political economy in 2019. (washingtonpost.com)
Economy
- A succinct summary of the week's economic events. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Longform links: abandoned islands. (abnormalreturns.com)
