Quote of the day

Todd Wenning, “The key to managing investment mistakes, as I’ve come to learn the hard way, is to admit them quickly, correct the mistake, and use the expensive lesson to improve your investment process.”  (Clear Eyes Investing via Monevator)

Chart of the day

OAK Total Return Price Chart

OAK Total Return Price data by YCharts

How Oaktree Capital ($OAK) profited handsomely from the financial crisis.  (NYTimes)


The Presidential election cycle is not in the market’s favor.  (Pragmatic Capitalism, Mebane Faber)

Chilling signs of a market top.  (The Reformed Broker)

Market bears need to identify a lower low to get excited. (Dynamic Hedge)

Rydex traders abhor cash.  (Horan Capital)

European stocks as the last refuge for bulls.  (Humble Student)


Shane Parrish, “t doesn’t matter if your forecast is right 99 times if on the 100th time you are not only wrong, but catastrophically wrong.”  (The Week)

When cash isn’t a drag on portfolio performance.  (Jason Zweig)

The trouble with backtests.  (Focus on Funds)

Revisiting the 4% withdrawal rule in retirement.  (Barron’s, Random Roger)


Why Twitter ($TWTR) went public at the right time.  (Wonkblog)

Forty companies with a valuation similar to Twitter.  (Aleph Blog)

Remember Boston Chicken? It went public twenty years ago to a ton of hype.  (Unexpected Returns)


Small university endowment funds are turning away from complexity.  (NYTimes)

Alex Jakulin, “Bitcoins are claims on numbers.”  (Ganxy Blog)


Why is consumer sentiment weakening once again?  (A Dash of Insight)

Just how badly did the Great Recession damage the economy?  (Rational Irrationality)

Does the Fed care that QE is translating into big IPO pops?  (Macro Man)

Summarizing US monetary policy.  (Econbrowser, Calculated Risk)

A look back at the economic week that was.  (XE)

The economic schedule for the coming week.  (Calculated Risk)

Earlier on Abnormal Returns

Top clicks this week on the site.  (Abnormal Returns)

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

Mixed media

How we define ourselves in these “secular, jobless, globalised times.”  (FT)

The cheerleader effect: why you are more attractive in a group.  (Big Think)

How to say no gracefully.  (Greg McKeown)

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