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Friday links: the most important investing skill

Abnormal Returns

(variety.com) Finance How Morgan Stanley ($MS) outpaced Goldman Sachs ($GS) in wealth management. ft.com) Startups How unicorns are dealing with the decline in valuations. theinformation.com) The bloom is off the 'passion economy' rose? ft.com) Economy Existing home sales plunged in December.

Investing 222
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Wednesday links: something completely different

Abnormal Returns

(washingtonpost.com) Finance Morgan Stanley ($MS) is besting Goldman Sachs ($GS) when it comes to wealth management. institutionalinvestor.com) Startup valuations trended down in the second half of 2022. institutionalinvestor.com) Economy Retail sales fell 1.1% in December 2022.

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Global Leaders Strategy Annual Investment Review: January 2023

Brown Advisory

Download it here > Dear Fellow Investors, If we had to sum up 2022 in one word it would be valuation. War, inflation, recession, deglobalisation, decoupling, strikes, crypto-crash and energy (crisis) all featured but for us the overriding focus for 2022 was valuation. There are many disturbing parallels in today’s global economy.