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Quote of the Day
"Losing real money doesn’t necessarily make you a better investor. It makes you an investor who knows the pain of losing money."
(Michael Batnick)
Chart of the Day
You’ve probably seen this chart in one form or another, but that doesn’t diminish its impact.
Markets
- The energy sector hasn't done this in over two years. (sentimentrader.com)
- Bond investors don't have a lot of good options going into 2021. (msn.com)
Strategy
- Why waiting for a stock market crash to invest doesn't work. (theirrelevantinvestor.com)
- In a bull market, all-time highs beget new all-time highs. (awealthofcommonsense.com)
- There are no markets without bubbles. (collaborativefund.com)
MGM Holdings
- Movie studio MGM Holdings is apparently for sale. (wsj.com)
- Who might want to buy it. (pastemagazine.com)
Fitness
- SoulCycle was once one of the hottest brands in fitness. What went wrong? (vox.com)
- Micro-gyms could be a thing, post-pandemic. (bloomberg.com)
Finance
- The SEC now allows for direct listings with a capital raise. (axios.com)
- What Softbank could do with its own SPAC. (bloomberg.com)
Funds
- The best and worst new ETFs of 2020. (morningstar.com)
- The Vanguard Total Internaitonal Stock Index ETF ($VXUS) hasn't experienced a daily outflow since 2017. (finance.yahoo.com)
- Good luck finding evidence of performance persistence in the fund world. (barrons.com)
Books
- A 2020 book list including "Why Fish Don’t Exist: A Story of Loss, Love, and the Hidden Order of Life" by Lulu Miller. (brainpickings.org)
- The very best books of 2020 including "Leadership: In Turbulent Times" by Doris Kearns Goodwin. (ryanholiday.net)
- The best books Ben read in 2020 including "The Hot Hand" by Ben Cohen. (awealthofcommonsense.com)
Economy
- More signs the pandemic is beginning to pinch the economy. (bonddad.blogspot.com)
- The stock market is not the economy. (econbrowser.com)
- The housing market has positive demographics in its favor for years to come. (housingwire.com)
Earlier on Abnormal Returns
- Personal finance links: spending money vs. time. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: stinky stocks. (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)
