Bullish with a Chance of Civil War

Subscribe! Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Stimulus Priced In? – Did the rocket higher in small caps and cyclical stocks signify all of the optimism about larger federal spending? […]

No Free Lunch, No Free Investing

“There ain’t no such thing as a free lunch,” my grandpa once told me. The adage suggesting you can’t get something for nothing seems to have bitten millions of unwitting investors who used a popular trading platform, Robinhood.

Tuesday links: winner-take-most markets

Are you already signed up for our daily e-mail newsletter? That’s awesome, but did you also know that we publish an adviser-focused e-mail every Friday? Now you do. Quote of the Day “There are many companies today whose stock is trading like they will be the primary winner of a winner-take-most market. Obviously, this cannot […]

Research links: proceeding with extreme caution

Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why insider trading isn’t just for M&A any more. Quote of the Day “The price of BTC is nearly certainly a bubble and likely manipulated. Investors should proceed with extreme caution.” (Alex Pickard) […]

The ‘Burbs

I fully agree with this, from Henry Ellenbogen in this weekend’s Barron’s Roundtable issue: One of the most fundamental trends that will come out of 2020 is that America will spread out. The first suburbanization trend started in 1810. I would argue that we are now in the fifth phase, and it is going to […]

Discuss your mistakes like Warren Buffett

It’s not a sign of weakness to discuss your mistakes. At least, it’s not if you discuss your mistakes like Warren Buffett. Benefit of discussing your mistakes “Berkshire investors gain confidence because Buffett doesn’t gloss over his mistakes,” writes L.J. Rittenhouse, in Buffett’s Bites: The Essential Investor’s Guide to Warren Buffett’s Shareholder Letters. She shares […]

Three White Tenants, One Asian Landlord: A Story About Opportunity

I realized the other day that all my tenants are White. I’d never thought about my tenants’ racial makeup until I read an article by Washington Post journalist, Michelle Singletary, entitled, “The Legacy Of Slavery Made My Grandmother Fear Investing.” Michelle writes how discriminatory policies of the past shaped the way her grandmother approached investing. […]

Adviser links: a jarring reminder

Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at why there is no such thing as a ‘local advisor’ any more. Quote of the Day “For many, the 2020 experience was a taster of what retirement could be like — as well […]

re: Trumpless Twitter

On November 7th, 2013, a stock was born. CNNMoney: Twitter priced its initial public offering Wednesday night at $26 a share. The stock debuted at 10:49 a.m. ET on Thursday on the New York Stock Exchange, and the first trade came in at $45.10 a share. Shares quickly jumped to a high of $50.09 — a gain […]

7 Financial Numbers You Should Know

Becoming financially literate means acquiring a very useful body of knowledge. Possessing this body of knowledge is such a rare phenomenon in today’s world that having it, especially when combined with some financial discipline, is like a superpower. When I speak, I frequently demonstrate the importance of financial literacy with a section of the talk […]

Sunday links: the great reflation

MarketsThree big themes for the rest of the year including a mutating virus. (blog.yardeni.com)Why didn’t the financial markets react more to political violence? (theatlantic.com)StrategyHow to invest in a bubble. (awealthofcommonsense.com)Jeff Miller, “Successful investors are realists not ideologues.” (dashofinsight.com)A nice review for Joachim Klement’s book “Seven Mistakes Every Investor Makes (And How to Avoid Them).” (valueandopportunity.com)CryptoThe […]

The Three Most Important Posts I’ve Ever Written

I’ve published something like 15,000 blog posts and articles over the last 12 years. These three did more for my readers (and myself) from an investing standpoint than all of the rest. When I think back on everything I’ve ever said, these are the big ideas that were probably the most useful for anyone who […]

Saturday links: a byproduct of good reading

AutosAutomakers around the world are facing a shortage of chips. (theverge.com)Why fatality rates on U.S. roads rose last year. (wsj.com)Ferrari is getting dragged kicking and screaming into the SUV era. (nytimes.com)How to think about the new automotive industry. (asymco.com)BatteriesWe are going to need to start recycling batteries to help make more EVs. (axios.com)The next wave […]

Coronavirus links: good enough

VariantsViruses mutate. So does the novel coronavirus. (theatlantic.com)The new variants increase the urgency to get people vaccinated. (statnews.com)We don’t really know if delaying second vaccinations would allow for greater virus mutation over time. (sciencemag.org)We need new diagnostic tests to identify the new variants. (statnews.com)Why you need to step up your vigilance with the new variants […]

How Much Does Life Insurance Cost By Age And Gender?

Life insurance used to be cumbersome to research and purchase, but now it’s easier than ever. Not only is there a wealth of information online about life insurance, you can compare free quotes and apply for life insurance policies in minutes right from your couch. So just how much does life insurance cost today anyway? […]

Friday links: large-growth fortunes

Are you already signed up for our daily e-mail newsletter? That’s awesome, but did you also know that we publish an adviser-focused e-mail every Friday? Now you do. Quote of the Day “Over the past several years, stock buyers have become far more optimistic about large-growth fortunes, even as they have soured on those of […]

Podcast links: tail-risk strategies

Fridays are all about podcast links here at Abnormal Returns. You can check out last week’s links including a look at how little we really know about how the world works. The Goldmine Portfolio management Episodes

Is the Value Premium Pining for the Fjords?

There’s no magic formula for investing. The financial markets seem to take some sort of cosmic joy in bringing people back down to Earth. And it’s value investing’s turn – in fact, it’s been value investing’s turn for a while now. To put it mildly, this has been a rough decade and a half for […]

Good at the Cyber (with Crowdstrike CEO George Kurtz), 3 tech stocks for 2021 (with hedge fund manager Eric Jackson), Impeachment – ANOTHER ONE

This week on The Compound Show, Josh talks with George Kurtz, co-founder and CEO of Crowdstrike, one of the fastest growing technology companies in America. Crowdstrike’s shares have nearly quadrupled over the past year as Wall Street has fallen in love with the company’s growth prospects, business model and expanding TAM. George’s official blog is […]

Crowdstrike CEO George Kurtz on The Compound Show

On the new episode of Josh’s podcast, The Compound Show, he has Crowdstrike co-founder and CEO George Kurtz! Watch the clip above and then make sure you’re subscribed to the pod, full interview comes out tomorrow. The Compound Show with Downtown Josh Brown comes out every Friday morning and feature’s Josh’s epic rants along with […]

Thursday links: untethered from its purpose

Are you already signed up for our daily e-mail newsletter? That’s awesome, but did you also know that we publish an adviser-focused e-mail every Friday? Now you do. Quote of the Day “The fact that Bitcoin has no intrinsic value (the way a stock or bond does) doesn’t mean it’s headed to zero. It just […]

Surprise, surprise – the stimulus is actually stimulating

Compared to quantitative easing, the two COVID stimulus plans done on the fiscal side were absolute home runs in terms of having an immediate effect in the real economy. As we’ve discussed before, when the Fed does stimulus, it leads to rich people allocating some capital to VC and PE funds while the majority of […]

Longform links: feelings of powerlessness

BooksAn excerpt from “Beginners: The Curious Power of Lifelong Learning” by Tom Vanderbilt. (theguardian.com)An excerpt from “Ask Your Developer: How to Harness the Power of Software Developers and Win in the 21st Century” by Jeff Lawson. (fastcompany.com)An excerpt from “How to Survive: Self-Reliance in Extreme Circumstances” by John Hudson, the British military’s chief survival instructor. […]