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Quote of the Day
"Consistency has been the characteristic trait of the Tim Cook era. It is a smoothing of seasonality with services. It is the clockwork delivery of product updates, regardless of macro and externalities. It is a growth in user base consistent for a decade."
(Horace Deidu)
Markets
- You can safely ignore Wall Street strategists 2021 market forecasts. (nytimes.com)
- Portfolio managers have finally ditched their excess cash. (allstarcharts.com)
Strategy
- Perspectives on risk differ across cultures. (awealthofcommonsense.com)
- Why articles highlighting people who make a fortune on a single stock are a disservice. (pragcap.com)
- Don't let the stocks you own, own you. (ofdollarsanddata.com)
- Three lessons individual investors can learn from endowment funds including "Match time horizons with riskier assets." (morningstar.com)
FinTwit
- Some of the best business and finance Twitter accounts to follow. (marketwatch.com)
- How #FinTwitPokerNight became a thing in pandemic. (institutionalinvestor.com)
Crypto
- The best argument for Bitcoin is its resilience. (ft.com)
- Why Coinbase going public is a big deal for cryptocurrencies. (nytimes.com)
Companies
- Roku ($ROKU) is throwing its weight around the streaming space. (wsj.com)
- Sonos' ($SONO) business model needs a revamp. (engadget.com)
- Tencent is buying another 10% stake in Universal Music Group. (wsj.com)
Finance
- The year in fintech in 50 words, from 'access' to 'zero.' (a16z.com)
- The biggest (tech) deals of 2020. (protocol.com)
IPOs
- BarkBox is going public via a SPAC merger. (barrons.com)
- Poshmark has filed its S-1 with the SEC. (news.crunchbase.com)
- Coinbase has confidentially filed for an IPO. (fortune.com)
SPACs
- The new SPAC and New Issue ETF ($SPCX) is comprised entirely of SPACs. (marketwatch.com)
- Being a SPAC sponsor is a good gig. (ft.com)
Hedge funds
- 2020 was a bad year for big hedge funds. (marketwatch.com)
- Why would anyone want a hedge fund ETF? (evidenceinvestor.com)
Global
- China's fund managers are flocking to livestreams to market their funds. (msn.com)
- The market for apartments in Australia is frozen in place. (wsj.com)
Economy
- The Q1 2021 economy is going to be diminished by rising Covid case counts. (wsj.com)
- But housing is primed to pick up some of the slack. (bonddad.blogspot.com)
- How the economy is doing in 9 charts. (nytimes.com)
Earlier on Abnormal Returns
- Podcast links: ESG index construction. (abnormalreturns.com)
- Longform links: intellectual curiosity and money. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: financial origin stories. (abnormalreturns.com)
- The problem with unbundled content in the age of subscription fatigue. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter just for advisers. (newsletter.abnormalreturns.com)
Books
- Tyler Cowen's 'very best books of 2020' including David S. Reynolds' "Abe: Abraham Lincoln in His Times." (marginalrevolution.com)
- A year-end book listing including "Caste: The Origins of Our Discontents" by Isabel Wilkerson. (seths.blog)
- A 2020 reading list including "Range: Why Generalists Triumph in a Specialized World" by David J. Epstein. (integratinginvestor.com)
- Some of the best narrative business books of 2020 including "Revolver: Sam Colt and the Six-Shooter That Changed America" by Jim Rasenberger. (strategy-business.com)
