Quote of the Day
“Show me the incentive and I will show you the outcome.”
(Charlie Munger)
Strategy
- It can take awhile for investors to come around to a bull market. (ritholtz.com)
- It's hard to be a pessimistic long-term investor. (blog.validea.com)
Rates
- Positive real interest rates give bond investors a cushion. (alphaarchitect.com)
- Is the top finally in for mortgate rates? (mortgagenewsdaily.com)
Crypto
- Does Binance really have a second life, post-indictment? (wsj.com)
- Do we really need a spot Bitcoin ETF? (etf.com)
Finance
- Apple ($AAPL) and Goldman Sachs ($GS) are breaking up it consumer-focused partnership. (arstechnica.com)
- Paying zero interest rates: why it's good to be a bank. (ft.com)
Charlie Munger
- Charlie Munger taught us how to think, not just about investing. (buggyhuman.substack.com)
- Charlie Munger was Warren Buffett's alter ego. (marketwatch.com)
- Tributes to Charlie Munger roll in. (wsj.com)
- Some excerpts from Charlie Munger's final interview. (morningstar.com)
- Charlie Munger, "I wish everything else in America was working as well as Costco does. Think what a blessing that would be for us all." (finance.yahoo.com)
- More quotes from Charlie Munger. (morningstar.com)
Sports
- Mark Cuban has sold a majority stake in the Dallas Mavericks. (theathletic.com)
- Being a great hedge fund manager is not the same as being a great NFL team owner. (frontofficesports.com)
Economy
- The pandemic messed with economic data gathering (and analysis). (ft.com)
- Are consumer sentiment measures permanently broken? (awealthofcommonsense.com)
Earlier on Abnormal Returns
- Personal finance links: desired results. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: knowing market history. (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)