This is an early edition of the linkfest. We will catch back up this weekend. Enjoy.

Quote of the day

Ben Carlson, “You can’t simply learn to be a better investor over the course of a day, just like a textbook or seminar is never going to give you all of the tools you need.”  (A Wealth of Common Sense)

Markets

A divergence worth noting: the economy is getting stronger while financial markets are becoming more fragile.  (Conor Sen)

The US Treasury market is being driven by more than just domestic economic conditions.  (Capital Spectator)

Have junk bonds gotten cheap?  (Income Investing)

Strategy

Patrick O’Shaughnessy, “I learned more about markets in those 12-months in front of clients than I did across all three levels of the CFA program.”  (Millennial Invest)

David Varadi, “The bottom line is that the longer an investor experiences a market state, the more comfortable that they become that it will last forever.”  (CSSA)

How market narratives get us off track.  (The Psy-Fi Blog)

Smart asset allocators prepare, not react.  (Pragmatic Capitalism)

Are you prepared for a bear market?  (Larry Swedroe)

Apple

The iPad line gets a refresh.  (WSJ, The Verge)

Apple ($AAPL) has lost the plot on simplicity.  (Quartz)

Apple is selling a lot of iPhones.  (Business Insider)

A comprehensive review of the new OS X Yosemite.  (ArsTechnica)

Finance

Enhanced voting rights only protect an underperforming company for so long.  (Bloomberg)

Do private equity funds really generate alpha?  (Alpha Architect)

A closer look at the WisdomTree Managed Future Strategy ETF ($WDTI).  (Attain Capital)

Global

Inflation is dead as a door nail.  (Wonkblog)

Russia should thank its lucky stars the ruble is tanking.  (Quartz)

Energy

Why solar power keeps getting cheaper.   (Vox)

Nordic countries are awash in wind power.  (Reuters)

Economy

Data on the housing market is mixed.  (Bespoke, Calculated Risk, Bonddad Blog)

Earlier on Abnormal Returns

Podcast Friday all about technology-led economic growth.  (Abnormal Returns)

Why market volatility matters: it makes investors do stupid stuff.   (Abnormal Returns)

What you might have missed in our Thursday linkfest.  (Abnormal Returns)

Mixed media

A profile of Pinterest as it gears up to turn the revenue dial.  (Forbes)

A profile of Jason Hirschhorn and mediaREDEF.  (The Daily Beast)

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