Markets

• Why German stocks have been outperforming the rest of Europe. (wsj.com)
• The surge in retail trading means big investors want a peek at the data. (msn.com)

Alternatives

• There is more to investing than just stocks and bonds. (ofdollarsanddata.com)
• Just be careful about the information asymmetry between alternatives providers and you, the investor. (morningstar.com)

Real estate

• Post-pandemic, companies are going to need flexible office space. Think, WeWork. (finance.yahoo.com)
• Facebook ($FB) has purchased REI's new, unused HQ building. (wsj.com)

Regulation

• Why do so many white collar criminals seemingly walk free? (newrepublic.com)
• Why analysts are reluctant to call out fraud even when they see it. (institutionalinvestor.com)

Companies

• How candy makers are dealing with a pandemic-affected Halloween. (wsj.com)
• Supply chains in pandemic are still not all the way back to normal. (theatlantic.com)
• A growing number companies is giving employees Election Day off to vote. (axios.com)

Nvidia-ARM

• Nvidia's ($NVDA) plan for integrating ARM Holdings is pretty far reaching and ambitious. (stratechery.com)
• The combination of Nvidia ($NVDA) and ARM Holdings is no slam dunk. (venturebeat.com)

IPOs

• OpenDoor is going public via a merger with a high profile SPAC. (cnbc.com)
• Who is the client of the IPO process? (ftalphaville.ft.com)

Global

• Canada had a day with no new Covid-19 deaths yesterday, the first since March. (reuters.com)

The Fed

• What the Fed accomplished by buying bond ETFs. (etftrends.com)
• Why the Fed is focused on flexibility, not "average inflation targeting." (blogs.uoregon.edu)
• The Fed has done much of what it can so far, it needs fiscal policy to pick up the slack. (washingtonpost.com)

Earlier on Abnormal Returns

• Research links: the truly long term. (abnormalreturns.com)
• Some thoughts on the relationship between time, creativity and wealth. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: sharing political views. (abnormalreturns.com)
• Every Friday I send out five links for advisers to help them think a little differently about the world. Sign up now! (newsletter.abnormalreturns.com)

Mixed media

• Why Cory Doctorow is selling the audio version of his new book on his own. (fastcompany.com)
• Why “referral revenues” now drive online media business models. (om.co)
• Every day seems to bring a media-sports gambling tie-up. (axios.com)
• A deep dive into the prospects for the Hipgnosis Songs Fund. (mailchi.mp)
• How Cameo blew up in pandemic. (newyorker.com)

Big reads

• "Upside-Down Markets: Profits, Inflation and Equity Valuation in Fiscal Policy Regimes" by Jesse Livermore (osam.com)
• "Liquidity Cascades: The Coordinated Risk of Uncoordinated Market Participants" by Corey Hoffstein (blog.thinknewfound.com)
• What these two papers tell us about how the world has changed. (awealthofcommonsense.com)

Asset allocation

• Different investors have successfully argued for very different asset allocation models. How to choose between them? (breakingthemarket.com)
• "The frequency of turning points has a significant impact on the performance of a simple trend-following strategy." (allocatesmartly.com)

Country selection

• Can you use the CAPE ratio to choose among global stock markets? (alphaarchitect.com)
• Knowing the growth rates of various countries doesn't tell you much about their equity returns. (seekingalpha.com)

Research

• It is still hard to find evidence of stock picking skill among active managers. (alphaarchitect.com)
• An assessment of cash-return-on-invested-capital (CROIC) as an alternative value metric. (factorresearch.com)
• How to include earnings revisions in a quant model. (blog.validea.com)
• Why you should expect to see the continued blurring of public and private markets. (medium.com)
• News flash: hedge fund managers like to talk to each other. (institutionalinvestor.com)
• For a long time, Value Line WAS investment research. (marketwatch.com)