Quote of the Day
"The longer you stay bearish, the more you’ll find yourself on the wrong side of reality. And you’ll strain as you struggle to explain why good news is bad."
(Sam Ro)
Strategy
- The best investors stay humble. (behavioralvalueinvestor.substack.com)
- The Japanese stock market bubble did not come without some long term costs. (econsoapbox.com)
Harry Markowitz
- Lessons learned from Harry Markowitz. (evidenceinvestor.com)
- Why Markowitz chose the risk measure he did. (humbledollar.com)
- A tribute to Harry Markowitz. (carsongroup.com)
Apple
- Goldman Sachs ($GS) wants to cut its ties with Apple' ($AAPL) consumer credit business. (wsj.com)
- It's hard to wrap your head around just how big Apple ($AAPL) is. (wsj.com)
ETFs
- The market for strategic beta ETFs has matured. (morningstar.com)
- If spot Bitcoin ETFs are approved, how many will survive? (theblock.co)
- Bond ETFs are approaching $2 trillion in AUM. (etftrends.com)
- Hard lessons learned from the ETF business including 'The ETF business is hit driven.' (blog.alphaclone.com)
- ETFs have a naming problem. (ft.com)
Immigration
- Three myths about U.S. immigration. (theconversation.com)
- Canada is eating the U.S.' immigrant lunch. (marginalrevolution.com)
Policy
- Joel Dodge, "Ultimately, Bidenomics will be judged by whether it actually delivers for the people and places that lost out under the old economic-policy consensus." (theatlantic.com)
- The I-95 overpass rebuild shows the U.S. can build quickly if it wants to. (notboring.co)
- The (tax) cash spigot is slowing in many U.S. states. (bloomberg.com)
- The downside of Medicare Advantage plans: care denial. (levernews.com)
- Pre-vaccine Covid policies didn't really differ all that much across the bstates. (nytimes.com)
- Does anger drive populism? Not after you control for other negative emotions and life satisfaction. (papers.ssrn.com)
Economy
- The U.S. economy is in an expansion around 84% of the time. (awealthofcommonsense.com)
- The American economy has slowed, but is not in recession. (econbrowser.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (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)
