Quote of the Day
"It is a curious phenomenon that investors seem to behave as if capital flooding into a certain type of fund (whether that be investment style or market subset) is a prelude to higher returns in the future."
(Joe Wiggins)
Chart of the Day
The iShares Bitcoin Trust ($IBIT) is poised to overtake Grayscale Bitcoin Trust ($GBTC) in AUM. (chart via YCharts)
Diversification
- The S&P 500 is now nearly 40% of global market cap. (apolloacademy.com)
- International diversification requires a long time horizon. (awealthofcommonsense.com)
Strategy
- Investment misses are inevitable. (morningstar.com)
- Don't confuse selling calls with income. (rogersplanning.blogspot.com)
- Gold won't save you if stuff really hits the fan. (ofdollarsanddata.com)
Economy
- Heavy truck sales rose in April. (calculatedriskblog.com)
- Most economic data is an estimate, not the real thing. (stayathomemacro.substack.com)
- Credit card delinquencies are on the rise. (axios.com)
Earlier on Abnormal Returns
- Research links: good enough research. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: objectives and aspirations. (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)