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Quote of the Day
"We’re back to worst case scenarios – a pandemic reasserting itself, millions of unemployed without hope of government assistance and a national political battle the likes of which this country hasn’t seen in decades.
(Josh Brown)
Markets
- Billionaires are not better able to forecast the market than other people. (theirrelevantinvestor.com)
- Once more with feeling: the stock market is not the economy. (washingtonpost.com)
Strategy
- How much of the days big trends, i.e. pandemic and the election, are already priced in? (ritholtz.com)
- Luck plays a big role in how the stock market performs during any administration. (blog.validea.com)
Apple
- Apple ($AAPL) is hedging its bets by investing more in search. (sixcolors.com)
- A comparison of the new iPhone 12 and iPhone 12 Pro. (sixcolors.com)
Startups
- Startups are struggling to navigate treacherous political waters. (nytimes.com)
- The caste system is present in today's Silicon Valley (washingtonpost.com)
- Startups are a series of cycles not funnels. (tomtunguz.com)
Venture capital
- PayPal ($PYPL) will invest more than $50 million in eight Black- and Latino- led VC firms. (nytimes.com)
- Andreessen Horowitz is getting a new Chief Regulatory Officer from the NYSE. (a16z.com)
- A VC's hardest job is to remove a CEO. (avc.com)
ETFs
- The ETF business seems to have its fair share of business disputes over IP. (institutionalinvestor.com)
- Why the SPDR S&P 500 ETF Trust ($SPY) is experiencing big outlfows this year. (msn.com)
- ETF bid/ask spreads make sense. (etf.com)
Real estate
- Demand for office space is not going to rebound even after a vaccine becomes widely available. (thereformedbroker.com)
- How the Silicon Valley exodus is spilling over into other cities and how it will change how tech works. (vanityfair.com)
- One bright spot in NYC real estate: life sciences. (nytimes.com)
Housing
- Americans are moving around again. (axios.com)
- The US housing economy has been upended by pandemic. (pragcap.com)
- The top 15 cities where Gen Z wants to buy a home. (housingwire.com)
Politics
- Inside PredictIt where political junkies are trading like crazy. (marker.medium.com)
- NextDoor is supposed to bring neighbors together. Predictably politics has won out. (vox.com)
- This is the best argument against the Electoral College. (marginalrevolution.com)
- Government is at its best when its boring. (markmanson.net)
Earlier on Abnormal Returns
- Personal finance links: cultivating connections. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: the rebalancing premium. (abnormalreturns.com)
- Jon, thanks for including us in your journey. (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)