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Quote of the Day
"One of the most effective things I’ve learned throughout my career is how to answer a question when you don’t know the answer. Simply, how to say: “I don’t know.”"
(Ramp Capital)
Markets
- The yield on the 30-year Treasury bond high an all-time low today. (crossingwallstreet.com)
- It's hard to ignore the surge in 'green' stocks. (themacrotourist.com)
Strategy
- On paper leverage often looks great, in practice its often a disaster. (theirrelevantinvestor.com)
- Why smaller investors nearly always fail when trying to invest like larger institutions. (morningstar.com)
- Why investors have a tendency to attribute their wins to skill and their losses to bad luck. (rpseawright.wordpress.com)
Brokerage
- ‘We’ll take on Schwab. We’ll take on Fidelity.’—James Gorman, Morgan Stanley CEO (wsj.com)
- Four reasons why Morgan Stanley ($MS) bought E*Trade ($ETFC). (ft.com)
- For the deal to work, the combined entity is going to need more 'wallet share' from E*Trade's customers. (investmentnews.com)
- Interactive Brokers ($IBKR) talked about a deal with E*Trade. (marketwatch.com)
- The best online brokers of 2020 ranked with Fidelity and Interactive Brokers coming out on top. (barrons.com)
- Be careful the fine line between commission-free trading on some apps. (ftalphaville.ft.com)
Finance
- Investment banking revenue fell 4% last year to its lowest level since 2008. (ft.com)
- Private equity performance consistency has declined. (institutionalinvestor.com)
Funds
Global
- Emerging market bond issuers are once again focusing on the US dollar. (wsj.com)
- The US dollar is surging against the Yen. (themacrotourist.com)
Economy
Earlier on Abnormal Returns
- Podcast links: launching a fund. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: tech vs. the tech press. (abnormalreturns.com)
- When it comes to investing there is a big difference between random and wrong. (abnormalreturns.com)
- Our lives are filled with stuff, most of which is disposable. (abnormalreturns.com)
- Italy is a study in contrast: tourists want in, the youth want out. (abnormalreturns.com)
