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Quote of the Day
"In a world with so much opportunity, it pays to ignore the vast majority of it and focus on a tiny bit of it. That may seem counterintuitive, but I am certain that it is the right thing to do."
(Fred Wilson)
Markets
- Semiconductors are the definition of relative strength. (allstarcharts.com)
- Small cap stocks are having their moment in the sun. (thereformedbroker.com)
Strategy
- There's always a chart to defend your position. (theirrelevantinvestor.com)
- Just because something is an index doesn't it necessarily means it makes perfect sense. (wsj.com)
- The case for (and against) investing in art. (barrons.com)
Crypto
- Bitcoin is unique in its crossover appeal. (wsj.com)
- Coinbase has seen an increase in institutional assets under custody (news.bitcoin.com)
Companies
- How MercadoLibre ($MELI) became an e-commerce giant. (ft.com)
- How FEMSA ($KOF) became a payment play. (notboring.substack.com)
ETFs
- Why ETFs will be on the menu for the Fed the next time a crisis rolls around. (msn.com)
- Mutual fund companies no longer have a choice when it comes to ETFs. (riaintel.com)
- Why ETFs engage in securities lending. (ft.com)
Oxford-AstraZeneca
- The Oxford/AstraZeneca ($AZN) Covid-19 vaccine has been found to be highly effective in a clinical trial. (newscientist.com)
- The Oxford vaccine is easier to make and to distribute. (statnews.com)
- The vaccine landscape is beginning to fill in with the recent news. (blogs.sciencemag.org)
- Some open questions about the Oxford/AstraZeneca vaccine trials. (vox.com)
Economy
- The Chicago Fed National Activity Index was positive for October. (calculatedriskblog.com)
- The pandemic has affected the 50 state economies in very different ways. (msn.com)
Earlier on Abnormal Returns
- Adviser links: ambient emotions. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone was clicking on last week on the site. (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
- A single paid newsletter is unlikely to be enough to support an independent writer. (hunterwalk.medium.com)
- "Daily news podcasts make up less than 1% of all those produced but account for more than 10% of the overall downloads in the US ..." (reutersinstitute.politics.ox.ac.uk)
- The case against Substack. (scholars-stage.blogspot.com)
