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Quote of the Day
"If you’re seeing buildings that don’t fall down, public health systems that are functioning and products that delight you, it’s because a smart person did the difficult work of creating them."
(Seth Godin)
Markets
- Don't kid yourself, the world is always in flux. (ritholtz.com)
- Markets mean revert, until they don't. (collaborativefund.com)
Strategy
- Why you should reduce your news intake. (novelinvestor.com)
- If you want to bet on the election, go to a bookmaker, not with your portfolio. (ft.com)
- Does your investment team have a devil's advocate? (mrzepczynski.blogspot.com)
Retail
- Amazon ($AMZN) has opened Luxury Stores. Will customers bite? (ft.com)
- Instacart has raised another $200 million funding round. (news.crunchbase.com)
- Curbside pickups have surged in pandemic. (nytimes.com)
Technology
- The pandemic has helped push Alibaba's ($BABA) market cap above Tencent's and Facebook's ($FB). (wsj.com)
- Why IBM ($IBM) is splitting into two companies. (nytimes.com)
SPACs
- Why the SPAC boom could have some more room to run. (ft.com)
- There is a now a Shaq-affiliated SPAC. (wsj.com)
Exchanges
- Citadel Securities is buying a smaller, market maker IMC Financial Markets. (reuters.com)
- The LSE is selling the Borsa Italiana to Euronext to help pave way for its deal to buy Refinitiv. (cnbc.com)
Fund management
- A story as old as time: boutique managers often see their returns decline as assets flow in. (institutionalinvestor.com)
- What a combined Morgan Stanley ($MS)- Eaton Vance ($EV) look like. (citywireusa.com)
- Harvard is spinning out its natural resources investing team. (wsj.com)
Global
- Canada's jobs recover is accelerating. (bnnbloomberg.ca)
- Post-Brexit London will still be a preferred financial center. (bloomberg.com)
- Venezuela's oil industry has nearly ground to a halt. (nytimes.com)
- Suicide rates have risen in Japan. (independent.co.uk)
New York City
- Broadway will remain shuttered through May 2021. (npr.org)
- Apartment vacancies are on the rise in Manhattan. (cnbc.com)
- Not all NYC restaurants can make outside dining work. (wsj.com)
- Businesses that rely on tourists are suffering. (nytimes.com)
- The pandemic will kick off a next, new phase of New York City. (city-journal.org)
Economy
- The number of the long term unemployed is growing. (axios.com)
- The June 2019 yield curve inversion preceded a recession, just not the one predicted. (econbrowser.com)
Earlier on Abnormal Returns
- Podcast links: upside-down markets. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: complexity is a constant. (abnormalreturns.com)
- Incremental solutions in pursuit of a clear goal beat the pointless pursuit of perfection. (abnormalreturns.com)
- October ESG links: unhelpful buzzwords. (abnormalreturns.com)
- Every Friday I send out five links for advisers to help them think a little differently about the world. Sign up now! (newsletter.abnormalreturns.com)
