Quote of the Day
"Work is work: mostly necessary, often boring, frequently annoying, occasionally insulting, and sometimes rewarding."
(Derek Thompson)
Markets
- The performance of major asset classes in November 2023. (capitalspectator.com)
- Even after November's rally low volatility stocks are still down on the year. (on.spdji.com)
- The magnificent seven stocks are having a big 2023, in part because they had a rough 2022. (theirrelevantinvestor.com)
Charlie Munger
- Charlie Munger perferfected the art of being a second-in-command. (wsj.com)
- A review of the new edition of "Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger" edited by Peter D. Kaufman. (blogs.cfainstitute.org)
- What factor best described Munger's approach to stocks? (wsj.com)
Fund management
- The Vanguard Total Bond Market ETF ($BND) became the first bond ETF with $100 billion in AUM. (bnnbloomberg.ca)
- If fund underperformance can be litigated, what happens to the business of money management? (morningstar.com)
Economy
- Housing is holding up U.S. inflation. (bonddad.blogspot.com)
- Good luck forecasting the next recession. (ritholtz.com)
- Inflation is falling around the world. (ft.com)
Earlier on Abnormal Returns
- Podcast links: an investing paradox. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the first rule of compounding. (abnormalreturns.com)
- On the end of the influential The Reformed Broker blog. (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)
Mixed media
- The 15 best books of 2023 about behavior including "The Hungry Brain" by Stephen Guyenet. (thegrowtheq.com)
- The top 50 psychology books of 2023 including "Right Kind of Wrong: The Science of Failing Well" by Amy Edmondson. (nextbigideaclub.com)
- Some books John Green recommends including "Not the End of the World" by Hannah Ritchie. (youtube.com)