Quote of the Day
"We love the idea of buying cheaper assets, but blissfully ignore the pain required to get there and the difficulty of actually acting when they do."
(Joe Wiggins)
Chart of the Day
The S&P 500 is in a 10% drawdown which happens on average once a year. (chart via @ycharts)
Strategy
- Money market returns look good...almost too good. (wsj.com)
- Six lessons from William Bernstein's "The Four Pillars of Investing." (humbledollar.com)
- Why it's easy to say you will buy when stocks 'go on sale.' (behaviouralinvestment.com)
Crypto
- Vanguard is opting out of the Bitcoin ETF race. (markets.businessinsider.com)
- Investors who bought the Grayscale Bitcoin Investment Trust ($GBTC) at a big discount are looking good. (etf.com)
- On the 15th anniversary of the Satoshi Nakamoto Bitcoin paper. (coindesk.com)
Apple
- AI is coming to Apple ($AAPL) GPUs. (om.co)
- Apple TV+ just doesn't have a big enough library. (variety.com)
- Why Apple ($AAPL) should make its batteries removable. (hypercritical.co)
Economy
- Case-Shiller showed a 2.6% rise in house prices through August 2023. (calculatedriskblog.com)
- New home prices are still under pressure. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Research links: value traps. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: demonstrating confidence. (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)
