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Quote of the Day
"Everything is the result of survivorship bias. It is hidden and easily overlooked. That is why success is so much rarer, more difficult and fragile than it appears to be."
(Barry Ritholtz)
Chart of the Day
If you squint hard enough you can see some market rotation.
Strategy
- Nothing lasts forever in markets. (awealthofcommonsense.com)
- Are investors worried about the wrong asset class? (retirementfieldguide.com)
- The case against a 100% stock portfolio. (whitecoatinvestor.com)
PayPal
- PayPal ($PYPL) is taking a very conventional, corporate approach to Bitcoin. (ft.com)
- Emil Protalinkski, "Unsurprisingly, PayPal wants to make money every time you buy or sell cryptocurrencies." (venturebeat.com)
Companies
- WhatsApp is encouraging businesses to engage with customers on the app. (wsj.com)
- Is 'live shopping' with influencers going to become a thing in the US? (theverge.com)
iPad Air
- John Gruber, "The $600 64 GB iPad Air seems like a terrific device for anyone looking for a great modern iPad for handheld use." (daringfireball.net)
- Most reviews peg the iPad Air as the best model for most consumers. (macrumors.com)
- How the iPad Air stacks up against the more expensive Pro models. (sixcolors.com)
Finance
- Blooomberg competitor, Symphony, is seeing a surge as more finance-types work from home. (fnlondon.com)
- You can't talk about the SPAC boom without talking about EV startups. (wsj.com)
Fund management
- Why Ted Aronson wasn't willing to wait out a return of value investing. (wsj.com)
- On the downside(s) of fund company mergers. (morningstar.com)
- Yale University's endowment is putting managers on notice increase diversity. (wsj.com)
Vanguard
- Vanguard investors keep shifting money from mutual funds into like ETFs. (barrons.com)
- In Europe, investors are voting for index vs. active Vanguard funds. (evidenceinvestor.com)
Global
Economy
- The child care crisis is forcing Americans out of the work force. (axios.com)
- As is often the case, younger generations are seeing their job prospects disappear in recession. (msn.com)
- The state of Iowa never shut down but its economy is still struggling. (nytimes.com)
Earlier on Abnormal Returns
- Podcast links: turning the table(s). (abnormalreturns.com)
- A post to bring you up-to-date on some goings on including a podcast I did with the Validea guys. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: perverse incentives. (abnormalreturns.com)
- When it comes to the stock market don’t underestimate the power of ‘learning by doing.’ (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)
Mixed media
- What it will take to make outdoor dining in Winter a reality. (bloomberg.com)
- Why indoor dining may be riskiest for the staff, not patrons. (eater.com)
- Just because you can, should you be eating indoors at a restaurant? (washingtonpost.com)
- Tipping etiquette is changing in pandemic and not always for the better. (fastcompany.com)
