Quote of the Day
"What should investors be doing? Thinking, reading, walking, ignoring and trying to appreciate how much of the behaviour that is expected of us is of detriment to our long-term results."
(Joe Wiggins)
Markets
- How major asset classes performed in December 2022. (capitalspectator.com)
- 2022 was the third worst year for the 60/40 portfolio. (awealthofcommonsense.com)
- The Dow lead the major indices in 2022. (albertbridgecapital.com)
Strategy
- Don't let the turn of the calendar overly influence your thinking. (ritholtz.com)
- It's been a long time since international stocks outperformed the U.S. (theirrelevantinvestor.com)
Crypto
- Investor sentiment toward crypto is pretty bad. (allstarcharts.com)
- The Grayscale Ethereum Trust ($ETHE) is trading at a record, ~60%, discount to NAV. (theblock.co)
Companies
- Tesla's ($TSLA) brand value has taken a hit. (surowiecki.medium.com)
- Rising streaming revenue is not making up for falling cable/broadcast revenue. (axios.com)
- U.S. investment in semiconductor manufacturing can only do so much. (nytimes.com)
Venture capital
- Brad Feld, "Nothing is going to magically and suddenly change for the better." (feld.com)
- 2023 is going to be a year or reckoning for the startup space. (wsj.com)
- Startups are going to experience a "new normal" valuation-wise. (avc.com)
- SpaceX is raising new capital at a $137 billion valuation. (cnbc.com)
- Daniel Rasmussen, "Hating Ark and loving venture capital seems intellectually inconsistent. The underlying companies are similar." (ft.com)
Fund management
- The University of California system is investing $4 billion into the Blackstone ($BLK) Real Estate Income Trust. (finance.yahoo.com)
- Fewer ETFs launched in the U.S. in 2022 vs. 2021. (etf.com)
Global
- U.S. companies are shifting production from China to Mexico. (nytimes.com)
- The UK has 'deconverged' from the rest of the global economy. (adamtooze.substack.com)
- Japan's business owners have a succession problem. (nytimes.com)
Economy
- Where various measures of the jobs market stand. (econbrowser.com)
- Higher turnover is a drag on company training resources and productivity. (nytimes.com)
Earlier on Abnormal Returns
- Research links: the downside of diversification. (abnormalreturns.com)
- Dropping habits that don't serve you is just as important as adopting new habits. (abnormalreturns.com)
- Adviser links: forced distributions. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (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)
