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Quote of the Day
"Keep in mind that no book will teach you how to invest. You only learn by doing."
(Ted Seides)
Markets
- A company's market cap on its own doesn't really tell us much. (theirrelevantinvestor.com)
- The pandemic has had a big effect on older, mature companies. (aswathdamodaran.blogspot.com)
- Obvious corporate frauds can go on longer than you ever think possible. (valueandopportunity.com)
Lessons
- You should be so lucky to be as 'out of touch' as Warren Buffett. (kruegercatalano.com)
- Lessons from Peter Bernstein about the inherent risk in investing. (novelinvestor.com)
- How Walter Schloss managed money. (monevator.com)
Robinhood
- How Robinhood makes money. (howardlindzon.com)
- What you need to know about payment for order flow. (etftrends.com)
Finance
- A wave of corporate bankruptcies are set to overwhelm the bankruptcy courts making it harder for companies to restructure. (nytimes.com)
- There are now nearly 100 SPACs in the US prowling for acquisitions. (barrons.com)
Funds
- The problem with hedge funds is the high fees keep coming even if the returns don't. (wsj.com)
- Don't hold your breathing waiting for standalone private equity funds in 401(k) plan offerings. (morningstar.com)
- These managers were able to profit from the WireCard fraud. (ft.com)
- The endowment model is increasingly coming under scrutiny. (institutionalinvestor.com)
Housing
- Why iBuying can coexist along side the traditional realtor model. (wsj.com)
- Jumbo mortgage rates are low, availability is a different issue entirely. (housingwire.com)
Policy
- It's hard not to argue that American institutions have failed us in 2020. (washingtonpost.com)
- The pandemic has only strengthened the case for a universal basic income. (thefinancialbodyguard.com)
- A four-step plan for sustaining the economy moving forward including a Pandemic Earned Income Tax Credit. (washingtonpost.com)
- Eight steps to take to prevent voting problems in November. (nymag.com)
- Pro sports teams, among others, are helping to push to get Election Day designated as a holiday. (wsj.com)
- For many the Stock Act, doesn't go far enough in preventing members of Congress from trading on non-public information. (nytimes.com)
Policing
- We know what makes for more effective, safer policing. (reasonstobecheerful.world)
- It's going to take Congress to repeal qualified immunity for police. (theatlantic.com)
- The case for requiring police officers to have a college degree. (theconversation.com)
- The case for ending all traffic stops. (jalopnik.com)
Global
- Chinese money-market mutual funds are seeing an exodus in assets as yields fall. (wsj.com)
- Toronto aims to be a nicer alternative to Silicon Valley. (technologyreview.com)
- Developing countries are seeing more younger people die from Covid-19. (wsj.com)
Economy
- Are double-dip recessions a thing? (awealthofcommonsense.com)
- Broad measures of economic growth don't pick up on the issue of income inequality. (barrons.com)
- Jobless claims aren't dropping fast enough. (capitalspectator.com)
- Traffic in the US has rebounded 90% of pre-pandemic levels. (washingtonpost.com)
- How the coronavirus is affecting relative consumer prices, including the composition of the basket. (econlife.com)
- 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)
- Coronavirus links: lessons not learned. (abnormalreturns.com)
- Sign up for our weekly adviser-focused e-mail that goes on Fridays. Five links to make you think headed into the weekend. (newsletter.abnormalreturns.com)
