Quote of the Day
"If you, as a boss, expect that learning stops at graduation and employees are merely meant to produce work, you will get the kind of employees you deserve."
(Morgan Housel)
Chart of the Day
![](https://abnormalreturns.com/wp-content/uploads/2024/01/Mixed_0124.jpeg)
2023 returns for the S&P 500 were top heavy, but still saw positive results for the other 493. (via @RyanDetrick)
Markets
- Good years tend to cluster for the stock market. (awealthofcommonsense.com)
- The right stocks are still going up. (allstarcharts.com)
Finance
- GSAM is jumping into biotech venture investing. (biopharmadive.com)
- The D.E. Shaw Composite Fund has only had one down year in its history. (institutionalinvestor.com)
- An example of how finding a (highly) niche investment strategy works in practice. (wsj.com)
- Venture capital its leaning into defense tech. (semafor.com)
UK
- The FTSE is a high dividend yield, value index. (bloomberg.com)
- The UK is betting big on floating wind turbines to help getting to net zero. (ft.com)
- The UK has its own permitting problems. (nytimes.com)
Sports betting
- How FanDuel manages its in-game odds and risk. (wsj.com)
- Why sports gambling industry needs to be reined in. (slowboring.com)
Economy
- Why wasn't there a recession in 2023? (theirrelevantinvestor.com)
- The labor market continues to decelerate. (bonddad.blogspot.com)
- The housing market is returning to historical precedent. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Personal finance links: worthless hunches. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: hedging crucial risks. (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)