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Quote of the Day
“The worst investor in the world is the person who bought a stock, then realized it wasn’t the company they thought it was and they’re now sitting on a loss.”
(Eddy Elfenbein)
Markets
- 2019: the year in charts. (compoundadvisors.com)
- A lot depends on whether you look back 10 or 20 years at trailing stock market reutrns. (theirrelevantinvestor.com)
- 10 things investors can definitely expect in 2020 including "There will be other people getting richer than you." (awealthofcommonsense.com)
Strategy
- Market reactions to geopolitical crises can be counterintuitive. (fortune.com)
- How markets have reacted to past geopolitical shocks. (disciplinedinvesting.blogspot.com)
Tech
- Amazon, Apple, Facebook and Google will soon have 20,000 workers on the west side of Manhattan. (nytimes.com)
- There is no shortage of device companies trying to launch new operating systems. (mondaynote.com)
- If 'digital detoxes' take off, advertising will be hurt. (nytimes.com)
Finance
Exchanges
- The push to shorten the day is gaining traction in Europe. (ft.com)
- Regulators are looking if the London Stock Exchange's outage in August was caused by a hack. (wsj.com)
Hedge funds
- A hedge fund that doesn't take management fees. (institutionalinvestor.com)
- Bill Ackman had a huge 2019. (finance.yahoo.com)
Places
- How California's real estate market is adjusting to higher fire insurance costs. (wsj.com)
- Just how sustainable is New York City's trash removal system? (politico.com)
Earlier on Abnormal Returns
- Adviser links: ESG nuance. (abnormalreturns.com)
- No commissions, mean no excuses to get started investing. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
Mixed media
- Five things great presenters do including "Great presenters don’t use bullet points." (hbr.org)
- A key takeaway from Bob Iger's memoir "The Ride of a Lifetime." (rationalwalk.com)
- New offices look cool but are awful to work in. (ft.com)
- It sucks, but sometimes the best move is to simply walk away. (pointsandfigures.com)