Book review: DIY Financial Advisor: A Simple Solution to Build and Protect Your Wealth by Wes Gray, Jack Vogel and David Foulke is “a good book for people who are motivated to do better with their investments.” (Aleph Blog)
Quote of the Day
"Every investment cycle is defined by the collective desire to avoid the mistakes of the last one. Taken to extremes, that often becomes the catalyst for the next crisis."
(Vadim Zlotnikov)
Markets
- How major asset classes performed in September. (capitalspectator.com)
- This correction could drag on for awhile longer. (priceactionlab.com)
- John Authers, "It is hard to be optimistic about the forthcoming earnings season..." (ft.com)
- How often is cash the best asset class? (awealthofcommonsense.com)
- Bearish sentiment is still on the rise. (shortsideoflong.com)
Strategy
- Value has underperformed for eight years. (crossingwallstreet.com)
- How long can you stick with a failing factor investment? (pragcap.com)
Offers
- Modern Trader Magazine—the essential journal for professional traders and active investors. Check out this special subscription offer including a free investment classic! (moderntrader.com)
- Both Ben Bernanke and Paul Volcker have endorsed Roger Lowenstein's forthcoming "America's Bank: The Epic Struggle to Create the Federal Reserve." (amzn.to)
- With Karma Go from @yourKarma you can take WiFi with you everywhere. Use my code for $10 off yours! (yourkarma.com)
Companies
- Facebook ($FB) is still underrated. (stratechery.com)
- Why you should expect more MLP mergers. (mlpguy.com)
- The hard job facing the new Twitter ($TWTR) CEO. (vox.com)
Hedge funds
- Eight thoughts on the current state of the hedge fund industry. (wallstreetoasis.com)
- Hedge funds are trading against ETF flaws (and flows). (wsj.com)
- Steve Cohen is hiring undergrads and training them up. (businessinsider.com)
- Your hedge fund blow-up of the week. (nytimes.com)
Business Insider
- Can Axel Springer turn a profit on BI? (ft.com)
- Howard's story of his angel investment in BI. (howardlindzon.com)
Funds
- Smart beta continues to dominate ETF launches. (ai-cio.com)
- DFA-managed ETFs hit the market. (blogs.barrons.com)
- Should target-date funds be value-agnostic? (marketwatch.com)
Economy
- Weekly initial unemployment claims continue to show few layoffs. (calculatedriskblog.com)
- The September ISM is another sign that the manufacturing economy is cooling. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Longform links: the next bear market. (abnormalreturns.com)
- What investment term will soon become antiquated? (abnormalreturns.com)
- Personal finance links: investing is personal. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)
