‘Tis the season: the Daniel Kahneman classic Thinking Fast and Slow is on sale for the Kindle.

Quote of the day

Morgan Housel, “If the history of bubbles teaches us anything, it’s to be humble.”  (Motley Fool)

Chart of the day

HYG Total Return Price Chart

HYG Total Return Price data by YCharts

US corporate bond spreads are at a six-year low.  (Sober Look)


The trend remains intact.  (Dynamic Hedge)

High dividend stocks are expensive.  (Mebane Faber)

The January effect is shifting to December.  (StockCharts Blog)

There is still plenty of room for investors to shift from bond to equity funds.  (Horan Capital)

Futures traders continues to cut gold positions.  (The Short Side of Long)


Should you settle for mediocrity in investing?  (NYTimes)

Why risk-adjusted returns matter.  (Oblivious Investor via @monevator)

A review of Bonds Are Not Forever:  The Crisis Facing Fixed Income Investors by Simon Lack.  (Aleph Blog)


There is a bear market in stock splits.  (Jason Zweig)

Stock exchange listings keep shrinking.  (Unexpected Returns)

ETF stats for November 2013.  (Invest With an Edge)

Wall Street

Stay-at-home dads are a growing trend on Wall Street. (NYTimes)

Traders should know that banks are listening in (and analyzing) every utterance.  (WSJ)

Beards are the new power accessory on Wall Street.  (NYTimes)


Did austerity work in the UK?  (Rational Irrationality, Free exchange)

Sometimes towns and cities are simply in the wrong place.  (voxEU)


The economy is slowly improving.  (Econbrowser)

Where does the taper stand?  (Tim Duy)

A look at some secular trends in the labor markets.  (Justin Fox)

What UPS deliveries say about the economy.  (Your Wealth Effect)

A look back at the active week in economic stats.  (Bonddad Blog, Big Picture)

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

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

Peter Lynch talks philanthropy with Charlie Rose.  (Market Folly)

A talk with Shane Parrish of Farnam Street blog.  (Forbes)

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