Quote of the Day
"With the rise of the creator economy, entrepreneurship, remote work, and web3, more people are pushing for the right to fend for themselves, to set their own course, make their own decisions, and bear responsibility for their own actions"
(Packy McCormick)
Chart of the Day

Energy stocks are having their day in the sun. (chart via @ycharts)
Markets
- The month of October is nothing if not volatile. (quantifiableedges.com)
- Small options traders have stepped aside for now. (sentimentrader.com)
Strategy
- Why market pundits can continue to make erroneous market calls. (ofdollarsanddata.com)
- Why college endowments are announcing eye-popping returns. (rcmalternatives.com)
Big Tech
Finance
- After a lull, bank mergers are on the rise. (wsj.com)
- Mastercard ($MA) is getting into the BNPL space. (barrons.com)
Funds
- When Vanguard cuts fees it is a big deal dollar-wise. (humbledollar.com)
- The term 'enhanced index fund' is usually a misnomer. (evidenceinvestor.com)
- More ETF fee cuts, this time via Nuveen. (finance.yahoo.com)
China
- Investors are building a higher risk premium into all Chinese assets. (economist.com)
- Chinese economic policy uncertainty has surged. (mrzepczynski.blogspot.com)
Housing
- The July Case-Shiller index showed a 19.7% annual home price rise. (calculatedrisk.substack.com)
- A sign that house price gains are beginning to slow. (bonddad.blogspot.com)
- Home rental prices are surging as well. (thebasispoint.com)
- New home sales are trending lower. (politicalcalculations.blogspot.com)
- Given Treasury yields, mortgage rates should be a tick higher. (calculatedrisk.substack.com)
Earlier on Abnormal Returns
- Research links: marketable securities. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: one person at a time. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)