Quote of the Day
"Never has it been easier to speculate. Never has the world been smaller (at least digitally). Never has capital been so abundant and never has there been so many storytellers with platforms to tell stories."
(Howard Lindzon)
Chart of the Day

It’s Buffett-time! Berkshire Hathaway ($BRK.B) is breaking out.
Markets
- Why 2021 markets were so unexpected. (thereformedbroker.com)
- The bull market depends on how you measure it. (theirrelevantinvestor.com)
- Enough with the top-heavy market talk. (ritholtz.com)
Finance
- Seed-stage investing surged in 2021. (wsj.com)
- The pandemic highlights the fact that big banks don't need to be centralized in financial hubs. (bloomberg.com)
Sports
- Fanatics now owns the Topps sports card business. (wsj.com)
- Arctos Sports Partners is the first private equity fund to buy into the NHL. (frontofficesports.com)
Media
- Justin Smith of Bloomberg is launching a new media startup. (wsj.com)
- The David Bowie catalog has sold for some $250 million. (variety.com)
Economy
- Job openings declined in November but voluntary quits jumped. (calculatedriskblog.com)
- Farm income surged in 2021. (econbrowser.com)
Earlier on Abnormal Returns
- Research links: the trade-off graph. (abnormalreturns.com)
- The year investors changed their minds on gold. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: behavioral coaching. (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)