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Quote of the Day
"The problem with investment intentions is that it is impossible to appreciate in the present how we will feel in the future when we actually have to implement the decision. "
(Joe Wiggins)
Chart of the Day

The Bank of Japan is the country’s largest owner of public equities.
Markets
- Commodities dominate the list of the worst-performing sectors over the past five years. (capitalspectator.com)
- Very few people are hedging against a market pullback. (sentimentrader.com)
Tesla
- Index haves and have-nots in 2020: why Tesla ($TSLA) mattered. (wsj.com)
- Tesla ($TSLA) shows the advantages of broad market indices. (etf.com)
Strategy
- While you're scrolling through r/wallstreetbets Fidelity is testing a quantum computing solution. (riabiz.com)
- Why you can safely ignore market (and economic) predictions. (investingmotherlode.com)
Crypto
- Libra is still a thing, but now its called Diem. (bloomberg.com)
- Ripple is expecting an SEC lawsuit in regards to the sale of XRP. (fortune.com)
Commerce
- A handful of startups are snapping successful brands selling on Amazon ($AMZN). (ft.com)
- There is a good chance your holiday shipment may be delayed. (washingtonpost.com)
- Shopify ($SHOP) is having a hard time keeping up with sketchy sellers. (ft.com)
Deals
- IAC ($IAC) is spinning off its Vimeo unit. (variety.com)
- What does Peloton ($PTON) get with Precor? (finance.yahoo.com)
- Visualizing the biggest tech M&A in 2020. (visualcapitalist.com)
Companies
- Lululemon ($LULU) is planning to make an overseas push. (ft.com)
- Sports gambling sites are upping their content push. (washingtonpost.com)
IPOs
- Dating app provider Bumble has filed for a IPO. (markets.businessinsider.com)
- Insurtech startup Oscar Health has filed for an IPO. (barrons.com)
SPACs
- OpenDoor ($OPEN) is now publicly traded. Now the hard part begins. (bloomberg.com)
- Softbank has filed for its own SPAC with plans to do more. (cnbc.com)
- Some thought on just how heated the SPAC space has become. (howardlindzon.com)
Pandemic
- Americans are flying for Christmas despite public health warnings. (washingtonpost.com)
- The politicization of the pandemic has been a disaster for American schoolchildren. (theatlantic.com)
- How the pandemic has upended the economics of ski towns. (adventure-journal.com)
- In pandemic, Americans have gone all out with their holiday decorations. (ft.com)
Earlier on Abnormal Returns
- Research links: stinky stocks. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: pro bono services. (abnormalreturns.com)
- There is only one way through the pandemic tunnel. (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)