Quote of the Day
"Today’s markets are the wild, wild west, except the Sheriff is passed out drunk and the grifters robbed the armory."
(Jack Raines)
Strategy
- Three ways to rebalance your portfolio without actually selling. (wsj.com)
- When things are changing quickly, experience can be a hindrance. (theirrelevantinvestor.com)
- The best investors often do the least. (novelinvestor.com)
Crypto
- Dave Nadig, "It is simultaneously true that the most interesting financial innovations in nearly a century are happening right now, and at the same time, some wild scams, malfeasance, and generalized stupidity are going to keep making headlines, based on precisely the same underlying technologies." (etftrends.com)
- What did Crypto.com get for its $700 million? (nytimes.com)
Venture
- It's hard not to marvel at the growth of VC-backed companies. (theirrelevantinvestor.com)
- On the state of the fintech landscape. (a16z.com)
- Sierra Space aims to build a private space station. (axios.com)
- Party Round wants to make it easier to fund a startup. (protocol.com)
Fund management
- Meme stocks are making running an index fund more challenging. (wsj.com)
- There's no getting around the math of high fund fees. (humbledollar.com)
Policy
- Want to remove supply bottlenecks? Remove tariffs. (econbrowser.com)
- Across the board, opposition to the death penalty is growing. (wsj.com)
- No matter how you slice it, democracy is on decline in the world. (vox.com)
Economy
- The inflation panic is palpable. (ryanavent.substack.com)
- Why some people currently out of the labor force will get lured back. (awealthofcommonsense.com)
- The 'Great Resignation' is better described as the 'Great Disruption.' (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Coronavirus links: hygiene theater. (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)
Mixed media
- The ten best books of 2021 including "Empire of Pain: The Secret History of the Sackler Dynasty" by Patrick Radden Keefe. (washingtonpost.com)
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A list of the best business books of 2021 including "A Shot to Save the World: The Remarkable Race and Groundbreaking Science Behind the Covid-19 Vaccines"
by Gregory Zuckerman. (ft.com) - In praise of the public library. (collaborativefund.com)
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A list of the best economics books of 2021 including "Nudge: The Final Edition"
by Richard Thaler and Cass Sunstein. (ft.com) - A list of the best business books for the holiday including "Out of Office: The Big Problem and Bigger Promise of Working from Home" by Charlie Warzel and Anne Helen Petersen. (wsj.com)
