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Quote of the Day
"Value investing doesn't have to be about low valuation metrics. Value can be found in many forms."
(Howard Marks)
Strategy
- The relationship between interest rates and asset classes is complicated. (capitalspectator.com)
- If you have to invest in a sector or theme, limit your exposure. (monevator.com)
- Beating the market requires skill, discipline and luck. (zeninvestor.org)
- Even smart people make investment mistakes. (evidenceinvestor.com)
Tesla
- The crazy Tesla ($TSLA) story by the numbers. (compoundadvisors.com)
- At some point don't you have to take some profits and diversify your portfolio? (ofdollarsanddata.com)
- Why you are likely to miss out on the next Tesla ($TSLA). (impersonalfinances.com)
Decision making
- More information and data does not making for better decisions. (awealthofcommonsense.com)
- For better or worse, humans are story-telling machines. (ritholtz.com)
Crypto
- It is estimated some 20% of Bitcoin are stranded in lost wallets. (nytimes.com)
- Brokers are struggling to manage the volatility of Bitcoin trading on the back end. (wsj.com)
Finance
- Private equity focused on propping up its portfolio companies in 2020. (institutionalinvestor.com)
- Walmart ($WMT) is creating a fintech start-up with Ribbit Capital. (cnbc.com)
IPOs
- SoftBank-backed residential brokerage Compass has filed for a IPO. (housingwire.com)
- How the automotive space became a favorite for SPACs. (ft.com)
- Dr. Martens, the famed British footwear brand, is going public on the LSE. (npr.org)
Pandemic
- Disneyland Resort will become the first mass vaccination site for COVID-19 vaccine distribution in Orange County, California. (theverge.com)
- Carnival Cruise Lines ($CCL) lost $10.2 billion in 2020. (fortune.com)
Funds
- A fund manager due diligence checklist. (allaboutalpha.com)
- Enhanced index funds often disappoint. (morningstar.com)
Global
Economy
- Muni bond issuance in 2020 was the highest in a decade. (wsj.com)
- The current administration will leave office with the worst jobs growth since Herbert Hoover. (fortune.com)
- Why is M1 surging but M2 is not? (fredblog.stlouisfed.org)
Earlier on Abnormal Returns
- Research links: the risky shift effect. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: a decade behind. (abnormalreturns.com)
- Don't forget to put refinancing your mortgage on your radar screen for 2021. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out (newsletter.abnormalreturns.com)
Mixed media
- Fred Wilson, "The thing about mentors is you can’t really ask someone to mentor you." (avc.com)
- Job interviews are an exercise in lies and deception, on both sides. (wsj.com)
- What the 'part-time' office will look like post-pandemic. (marker.medium.com)
- The case for longer, more thoughtful, meetings. (fastcompany.com)
