Quote of the Day
"Investing is a bizarre activity. Over reasonably lengthy time horizons (one year, three years and more) people without any discernible skill will produce better results than the most skillful individuals in the field. There are very few activities that are structured in this way."
(Joe Wiggins)
Markets
- The best stocks of 2020 are taking it on the chin in 2021. (theirrelevantinvestor.com)
- Higher inflation is good for value stocks. (awealthofcommonsense.com)
- This stock market recovery is ahead of prior ones. (capitalspectator.com)
- More stocks are making 52-week lows. (ft.com)
- Mortgage rates are higher than they were a year ago. (housingwire.com)
Talking points
- 16 talking points that will make you seem smarter including 'Residential construction is happening like it’s 1974.' (tker.co)
- 10 things that you will make you sound like you know crypto including 'Imagine never having to come up with a username or password ever again. Your crypto wallet *is* your sign-in.' (bloomberg.com)
Crypto
- India's crypto crackdown is making for some weird pricing. (bloomberg.com)
- What if Bitcoin, and other coins, really do replace gold as a store of value? (institutionalinvestor.com)
Companies
- Retailers including Best Buy ($BBY) are seeing a spike in shoplifting. (axios.com)
- Amazon ($AMZN) is going all out to ensure supplies this shopping season. (bnnbloomberg.ca)
- Apple ($AAPL) keeps bringing more functions in-house. (theverge.com)
Entertainment
- How streaming services are recreating the old Hollywood studio system. (daily.jstor.org)
- Disney ($DIS) and WarnerMedia are splitting next year's Fox slate of movies. (variety.com)
- Where in the U.S. people are headed back to the movies. (wsj.com)
- Want to film a teen movie? Head to American High. (nytimes.com)
Venture
- Why founder-led companies are different. (avc.com)
- The best days for Clubhouse are behind it. (garbageday.email)
- Returnmates wants to optimize the e-commerce return process. (protocol.com)
Finance
- Big banks are still struggling to get workers back in the office. (nytimes.com)
- The bank branch boom is officially over. (bloomberg.com)
- Why Amazon ($AMZN) and Visa ($V) are fighting over card fees. (ft.com)
Funds
Global
- Enhanced Covid restrictions are going to put a damper on the European economy. (nytimes.com)
- France is avoiding the worst of the 'Great Resignation.' (ft.com)
- The U.S.-Canada border is open, but traffic is light. (nytimes.com)
Economy
- Weekly initial unemployment claims are at multi-decade lows. (bonddad.blogspot.com)
- New home sales are now declining year-over-year due to the pandemic surge. (calculatedriskblog.com)
- Inflation fears are overblown. (time.com)
Earlier on Abnormal Returns
- Personal finance links: spending money differently. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: an undesirable risk profile. (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
- Tyler Cowen's favorite non-fiction books of 2021 including "River Kings: A New History of the Vikings from Scandinavia to the Silk Roads" by Cat Jarman. (marginalrevolution.com)
- Tim Harford's favorite books of 2021 including "The Scout Mindset" by Julia Galef. (timharford.com)
- Tyler Cowen's favorite fiction books of 2021 including "Project Hail Mary" by Andy Weir. (marginalrevolution.com)
