Quote of the day
Cam Hui, “Focus first on investment policy and all your other decisions should naturally flow out of that framework.” (Humble Student)
Chart of the day
Behold the crazy round-trip that is Netflix ($NFLX). (Afraid to Trade)
Video of the day
Simon Lack author of Bonds Are Not Forever: The Crisis Facing Fixed Income Investors on why you should dump bonds. (Fox Business)
Strategy
Why alternative investments are no longer all that alternative. (Aleph Blog)
How low interest rates have capped hedge fund returns. (Turnkey Analyst)
More on the limits of fundamental analysis. (Stone Street)
Why Microsoft ($MSFT) is headed towards oblivion: it success wasn’t built on superior technology. (Barry Ritholtz)
Finance
Corporate America is releveraging. (WSJ)
The death of private equity fee hogs. (Term Sheet)
Corporate boards are getting older. (FT)
The Feds are no closer to extricating themselves from being the dominant source of home financing. (Felix Salmon)
What is the “Steakhouse Index” telling us about the financial economy? (Fortune)
Economy
The non-farms payroll data for August comes in below expectations. (Calculated Risk, Quartz, RTE, Daniel Gross, TRB, Capital Spectator, Bonddad Blog, Economist’s View)
Could negative interest rates have stopped the recession in its tracks? (Quartz)
Rail traffic continues to expand. (ValuePlays)
How shale gas is affecting (positively) the US economy. (Fortune)
Global
Jim O’Neill thinks the BRICs need to grow up already. (CNNMoney, ibid)
Mexico unexpectedly cuts its policy interest rate. (beyondbrics)
Earlier on Abnormal Returns
What you missed in our Thursday linkfest. (Abnormal Returns)
Mixed media
The story of SumZero. (AlleyWatch)
How index funds got their start. (Forbes)
A book for the post-2008 funk or why Helaine Olen’s Pound Foolish: Exposing the Dark Side of the Personal Finance Industry is worth a read. (Rekenthaler Report)
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