Podcast links: new money

Fridays are all about podcast links here at Abnormal Returns. You can check out last week’s links including a look at the challenge of valuing fast-growing SaaS companies. Book stuff Episodes

Longform links: thinking for yourself

Thursdays are now all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at why in the modern era the Electoral College is so absurd. Quote of the Day “If you want to learn how to think for yourself, you can’t just follow what someone else came up […]

Wednesday links: every time is different

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “Every time is different. You haven’t seen this movie before – no one has. Just because something hasn’t happened in the […]

Personal finance links: recognizing your deficiencies

Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at how to invest money you are saving for a major purchase. Quote of the Day “The 3 most important words in finance are “I don’t know” because the markets will humiliate you without the […]

Research links: an ersatz measure

Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how Sharpe ratios are used and abused in the real world. Quote of the Day “Many investors and market observers still unfortunately conflate value investing with the value factor. Value investing is buying […]

Sunday links: the only certainty in markets

MarketsTesla’s ($TSLA) addition the S&P 500 has echoes of Yahoo’s addition back in 1999. (cnbc.com)How Thanksgiving week has historically traded. (quantifiableedges.com)A ranking of asset classes by historical returns (1985-2020). (visualcapitalist.com)CryptoBitcoin is an asset, not a religion. (allstarcharts.com)Bitcoin demand is coming from institutional investors this time around. (barrons.com)The Bitcoin story is one of demand. (coindesk.com)CompaniesRetail hazard […]

Coronavirus links: unbridled incompetence

MasksMajor health care groups are urging people to wear masks. (nytimes.com)Public health officials have had urge people to wear masks, despite a single ambiguous study out of the Netherlands. (washingtonpost.com)Confused about mask science? Here’s what scientists know. (nytimes.com)The trade in N95 masks is still not back to normal. (nytimes.com)Face masks do not impede the flow […]

Podcast links: the art of learning

Fridays are all about podcast links here at Abnormal Returns. You can check out last week’s links including a look at the state of economics (and Freakonomics) these days. Book talk Episodes

Thursday links: interpreting random events

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “At best, this kind of overinterpretation of random events is harmless and doesn’t cost you too much money (though it usually […]

Longform links: an absurd system

Thursdays are now all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at profile of Elon Musk and his big year. Book stuff Work Politics Business Mental health Longreads

Wednesday links: technologies that count

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “While startups and their investors were being bashed on social media, at least a few of them were laying the building […]

Personal finance links: knowing your finances

How I Invest My MoneySurprising lessons learned from financial advisors from “How I Invest My Money.” (cnbc.com)Lessons learned from putting the new book “How I Invest My Money” together. (thereformedbroker.com)Why you should focus on optionality when it comes to planning your financial life. (moneymaven.io)InvestingHow to get yourself unstuck when you have a big wad of […]

Tuesday links: uncertainty removed

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “New information will remove the policy uncertainty that we are currently facing and that will convert to changes in market prices.” […]

Monday links: more good vaccine news

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “We’re getting vaccine news at record stock market highs, not at lows.” (Josh Brown) Chart of the Day Say what you […]

Adviser links: building affective trust

Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at CI Financial’s big push into the U.S. wealth management industry. Quote of the Day “Stories that show who you really are, build affective trust.” (Dan Solin) Chart of the Day The pandemic has […]

Saturday links: star pupils

Saturdays are the day we catch up with all the non-finance related stuff we didn’t get to during the week. You can check out last week’s edition here. Quote of the Day “There will always be the “star pupils” but the teacher’s job is to serve all of the students. The reward may be to […]

Coronavirus links: exhausted health care workers

A linkfest dedicated to the coronavirus pandemic is unfortunately now a weekly feature here on Abnormal Returns. You can read last week’s edition here. Please be careful, get a flu shot and stay safe. Quote of the Day “In the imminent future, patients will start to die because there simply aren’t enough people to care […]

Friday links: your real benchmark

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “Your real benchmark isn’t beating the stock market. Instead, it’s how you’re performing relative to the goals that you’ve set.” (Robin […]

Podcast links: practical measures of risk

Fridays are all about podcast links here at Abnormal Returns. You can check out last week’s links including a look at the challenges of being a systematic quant these days. Personal finance Listings Economics Episodes

Longform links: surrendering to the platform

Thursdays are now all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at why technology hasn’t eliminated the drudgery of laundry. Quote of the Day “TikTok’s feed is finely tuned and personalized, but I think what’s more important is how it automates the entire experience of online […]

Wednesday links: an overused term

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “The term historic is overused and thus loses meaning. Events can be out of ordinary but not historic. All market surprises […]

Personal finance links: why FOMO exists

Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at why an estate plan is more than just a handful of documents. Quote of the Day “Watching other people get rich not only introduces career risk into investment decisions, it also gnaws at your […]

Research links: barriers to entry

Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how the pandemic has affected quant investing, not just value. Quote of the Day “The barrier to entry is lower and the barrier to success [in quant] is much higher…You don’t need to […]

Monday links: pushing the envelope

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “The ETF industry is much more entrepreneurial than the traditional asset management world. That’s why we’ve fit in. We’ve been willing […]

Adviser links: making it fun

Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at the evolving definition of ‘financial wellness.’ Quote of the Day “Talk with your clients the way you talk with your friends. Make it fun.” (Ric Edelman) Chart of the Day Ten cities where […]

Sunday links: a complex world

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “The next time you get the urge to attribute political or market outcomes to your (least) favorite politician I’d recommend stepping […]

Saturday links: powerful sentiments

Saturdays are the day we catch up with all the non-finance related stuff we didn’t get to during the week. You can check out last week’s edition here. Quote of the Day “Uncertainty is difficult. Our problems are hardly superficial. But I have faith in humanity. I’m sanguine that we will find a productive way […]

Coronavirus links: the shape of the curve

A linkfest dedicated to the coronavirus pandemic is now a weekly feature here on Abnormal Returns. You can read last week’s edition here. Please be careful, get a flu shot and stay safe. Quote of the Day “We haven’t turned the corner, and it’s not magically going away. Beyond that, in the likely absence of […]

Friday links: a need for certainty

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “It’s not that the polls told us nothing. It’s that they could not tell us what we yearned to know. We […]

Podcast links: trading cards and sneakers

Fridays are all about podcast links here at Abnormal Returns. You can check out last week’s links including a look at how the story of textiles is the story of the modern economy. Alternatives Quant stuff Episodes

Thursday links: object impermanence

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “[Markets] are more like babies: Quick to react, eager to grab at shiny baubles, and lacking in object permanence.” (Dan Primack) […]

Longform links: lifestyle innovation

Thursdays are now all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at how Scrabble lost its opportunity in the spotlight. Quote of the Day “Laundry defies the rules of lifestyle innovation and the promises of capitalism.” (Rachel Sugar) Pandemic Sports Longreads

Wednesday links: uncertainty and delay

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “This time of uncertainty and delay will pass. Others will follow.” (Sarah Newcomb) Chart of the Day The stock market tends […]

Personal finance links: securing financial freedom

Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at the best 529 plans for college savings. Quote of the Day “The only reason we put our hard-earned money on the line is to secure financial freedom. That’s it. And if a 6% drop […]

Tuesday links: collective thinking

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “Like some stressful, nationwide quadrennial birthday, elections not only encourage us to think about where we’ve been and where we’re headed […]

Research links: pandemic effects

Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how to fix value investing. Quote of the Day “There have been many market regimes in the century of data upon which most major investment factors are based. It may just be that […]

Monday links: the worst possible moment

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “If you’ve got a plan, the worst possible moment to upend it is when you’re panicked.” (David Snowball) Chart of the […]

Adviser links: financial wellness

PodcastsMorra Aarons-Mele talks with financial therapist Amanda Clayman about working with clients on their money motivations. (hbr.org)Meb Faber talks with Mike Lecours who is the co-founder of fpPathfinder. (mebfaber.com)The SECThe SEC is generally satisfied with how RIAs have rolled out Form CRS. (citywireusa.com)Think twice before touting third party recognition – it may come up in […]

ESG links: filing resolutions

Asset managementWhy achieving diversity in asset management has been so difficult to achieve. (pionline.com)Should asset managers like Blackrock ($BLK) get credit for their ‘behind the scenes’ efforts to influence company management? (barrons.com)Human rights is the next wave in sustainable investing. (barrons.com)How ‘conscience investing’ differs from ESG. (ft.com)PortfoliosPutting together an ESG model portfolio is not a […]

Sunday links: a calming effect

MarketsThe new President is going to get more credit (or blame) for the stock market over the next four years. (awealthofcommonsense.com)How to prepare for a lost decade for stocks. (news.yahoo.com)Investors have been making the case for emerging markets for well over a decade. (humbledollar.com)AppleApple’s ($AAPL) wearables business, Airpods and Watches, is growing quite nicely. (sixcolors.com)The […]

Saturday links: TikTok for adults

Saturdays are the day we catch up with all the non-finance related stuff we didn’t get to during the week. You can check out last week’s edition here. Quote of the Day “Not only is Zillow my personal self-worth destruction/enhancement machine, but it’s like TikTok for adults.” (Kris Frieswick) Chart of the Day A look […]

Coronavirus links: losing badly

A linkfest dedicated to the coronavirus pandemic is now a weekly feature here on Abnormal Returns. You can read last week’s edition here. Please be careful, get a flu shot and stay safe. Quote of the Day “Due to its potential for exponential growth, Covid-19 is more like Blitzkrieg than it is like chess. You […]

Friday links: grace and humility

Are you already signed up for our daily e-mail newsletter? Great, but did you know that we just launched an adviser-focused e-mail on Fridays? Now you do. Sign up here! Quote of the Day “Grace and humility are not two things conventionally linked to successful investors. But they can be extremely useful during the down […]

Podcast links: not-so common sense

Book talkBarry Ritholtz talks with Ray Dalio about his forthcoming book “The Changing World Order: Why Nations Succeed and Fail.” (ritholtz.com)JC Parets talks with Jack Schwager author of the new book “Unknown Market Wizards: The best traders you’ve never heard of.” (allstarcharts.com)Meb Faber talks with Joel Greenblatt of Gotham Asset Management about his new book […]

Thursday links: being on the mend

VaccinesEveryone is waiting on the arrival of a coronavirus vaccine. (thereformedbroker.com)It may be time to reset expectations on a coronavirus vaccine. (statnews.com)Germany is in line to be one of the first Western countries to roll out a vaccine. (wsj.com)StrategyWhy calling a bubble in real time is so difficult. (awealthofcommonsense.com)The turn for value is coming, the […]

Longform links: changing the channel

Book excerptsAn excerpt from “Outside the Box: How Globalization Changed From Moving Stuff to Spreading Ideas” by Marc Levinson. (wsj.com)An excerpt from “Blockchain Chicken Farm: And Other Stories of Tech in China’s Countryside” by Xiaowei Wang. (vox.com)An excerpt from “The Fabric of Civilization: How Textiles Made the World” by Virginia Postrel. (wsj.com)An excerpt from “A […]

Wednesday links: worst case scenarios

MarketsBillionaires are not better able to forecast the market than other people. (theirrelevantinvestor.com)Once more with feeling: the stock market is not the economy. (washingtonpost.com)StrategyHow much of the days big trends, i.e. pandemic and the election, are already priced in? (ritholtz.com)Luck plays a big role in how the stock market performs during any administration. (blog.validea.com)AppleApple ($AAPL) […]

Personal finance links: cultivating connections

RetirementFour surprises in retirement including “health care costs can still take you by surprise.” (mullooly.net)Some lessons from Ken Dychtwald author of “What Retirees Want: A Holistic View of Life’s Third Age.” (soundmindinvesting.com)Why complexity doesn’t work in retirement: a case study. (rivershedge.blogspot.com)Qualified accountsWhy you may not want to max out your 401(k) contributions. (ofdollarsanddata.com)Why you should […]

Tuesday links: participating in a story

EnergyDoes the price of oil even matter all that much anymore? (awealthofcommonsense.com)The energy sector is now below 2% of the S&P 500. (theonedave.tumblr.com)PortfoliosWhy is there no agreed upon ‘neutral portfolio’? (morningstar.com)The question you should ask yourself before undertaking a big portfolio makeover. (advisorperspectives.com)Focus less on ‘safe assets’ and more on ‘safe portfolios.’ (alephblog.com)FinanceAIG ($AIG) is […]

Research links: the rebalancing premium

FactorsThe case against the momentum factor. (papers.ssrn.com)How free float should affect how we think about what is a small cap stock. (covestreetcapital.com)How to fix value investing. (aswathdamodaran.blogspot.com)ResearchResearch shows institutional portfolios are taking all sorts of unintended and uncompensated risks. (institutionalinvestor.com)The 2020 Invesco Global Factor Investing Study including a look at ESG adoption. (invesco.com)IRR is an […]