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Quote of the Day
"If you need to get 3% and you can only get 1%, the answer is ... you should always adapt your consumption to your income. Reaching for yield is really stupid. But it is very human."
(Warren Buffett)
Markets
- The 30-year US Treasury hit another record low yield today. (cnbc.com)
- US yields are looking more and more like European (bloomberg.com)
- TIPS yields are now firmly negative again. (econbrowser.com)
- The US yield curve is inverted (again). (axios.com)
Strategy
- What negative rates imply for market valuations. (blogs.cfainstitute.org)
- An overvalued stock is not necessarily a sign of a market bubble. (finance.yahoo.com)
- Why down markets prime us to believe questionable stories. (tonyisola.com)
Crypto
- Sweden's central bank is testing its proposed e-krona. (technologyreview.com)
- What purpose does Bitcoin solve? (humbledollar.com)
Buffett and Berkshire
- Everything Warren Buffett said on CNBC today. (advisorhub.com)
- Some notes on the 2019 Berkshire Hathaway ($BRK.A) annual shareholder letter. (safalniveshak.com)
- A closer look at Berkshire's share repurchases. (rationalwalk.com)
Venture capital
- The much-anticipated venture capital reckoning is finally here. (nytimes.com)
- This isn't stopping venture firms from trying to raise ever bigger funds. (ft.com)
Private equity
- Private equity returns over the past decade have pretty much kept up with the S&P 500. (ft.com)
- Why institutions shouldn't bother trying to time their private equity commitments. (institutionalinvestor.com)
Funds
- Why fund managers are going to continue merging. (ft.com)
- Breaking down the difference between the different non-transparent active ETF structures. (pionline.com)
Coronavirus
- The coronavirus will accelerate the adoption of videoconferencing vs. in-person business meetings. (avc.com)
- What China is going to have to do to support its economy. (ftalphaville.ft.com)
Economy
- The coronavirus is going to cause the de-globalization of supply chains. (thereformedbroker.com)
- The February services and manufacturing PMIs fell. (axios.com)
- Seems out of date, but the Chicago Fed National Activity Index, ticked higher in January. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Adviser links: talking over consumers. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
