Friday links: there are no naturals

Quote of the day

Malcolm Gladwell, “In cognitively demanding fields, there are no naturals.”  (New Yorker)

Chart of the day

c8b4f6b8b8990582c43885466528d93c Friday links:  there are no naturals

MSFT Total Return Price data by YCharts

Microsoft ($MSFT) CEO Steve Ballmer to retire.  (WSJ, Quartz, GigaOM, BI)


The US is the 4th most expensive market in the world.  (Mebane Faber)

Muni closed-end funds are trading at big discounts.  (Focus on Funds, ibid)

A strange cluster of signs of bearish sentiment.  (Joe Fahmy)


How investors hurt themselves in the pursuit of alpha.  (Big Picture)

The top 5 behavioral hazards for managing asset allocation.  (Capital Spectator)


How Twitter’s IPO will be different from Facebook’s ($FB).  (Pando Daily)

What has really changed at Yahoo! ($YHOO) in the past year?  (Business Insider)

Among Blackberry’s ($BBRY) many flaws was the way it handled its capital structure.  (NYTimes)

How much is Steve Ballmer to blame for Microsoft’s decline?  (The Atlantic, Mark Hulbert, Wonkblog, The Guardian)

Managing a company whose core business is in secular decline, like HP ($HPQ), is not sexy.  (Felix Salmon)

Nasdaq outage

How worked up should we be about the Nasdaq ($NDAQ) market outage?  (Dealbreaker, Felix Salmon, Chuck Jaffe, MoneyBeat)

Market size+Complex systems=More glitches.  (WSJ)

Market glitches could be avoided by slowing down trading.  (Quartz, Capital Ideas)

What to do in the face of the next market malfunction: nothing.  (Random Roger)

Baby Berkshires

Is the newly launched iShares MSCI USA Quality Factor ($QUAL) a better Buffett-clone?  (Morningstar)

If you are going to buy a hedge fund in drag it might as well be run by Charlie Munger.  (Dealbreaker)

Emerging markets

Emerging market bottom fishers don’t need to get too cute.  (IndexUniverse)

It’s too soon to dive into the emerging markets.  (FT)

Now the big emerging markets are defending their currencies.  (FT)

How can India dig itself out of the hole?  (The Economist)


The American economy needs a boost from kids leaving their parents’ basements.  (Breakingviews)

54 years of real interest rates.  (Krugman)

The top 200 influential economics blogs.  (Onalytica Indexes)

Earlier on Abnormal Returns

Top blogs all financial advisors should be following.  (Financial Social Media)

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

Mixed media

In praise of the Fiery Doritos Locos Taco.  (Slate)

Why is the shelf life of honey so long?  (Smithsonian via Digg)

In praise of the cashew, the non-nut.  (Medium)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

Abnormal Returns is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to If you click on my links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
  • Tadas ViskantaAbnormal Returns has over its seven-year life become a fixture in the financial blogosphere. Over thousands of posts we have striven to bring the best of the financial blogosphere to readers. In that time the idea of a “forecast-free investment blog” remains as useful as it did six years ago. More »

  • StockTwits Follow Abnormal Returns on StockTwits Follow Abnormal Returns on Twitter Follow StockTwits on Facebook Subscribe to Abnormal Returns RSS via Email Subscribe to Abnormal Returns RSS
  • Recent Posts

  • Archives

  • Join StockTwits
  • Get Updates!

    100% Privacy. We don't spam.