Quote of the day
Marc Andreessen, “Question is not why are they [Apple] being aggressive in buying Beats; question is why are they so conservative on not buying everything else?” (Twitter)
Markets
Internet stock performance no longer looks all that hot. (Bespoke)
A lot of stocks are already in a bear market. (Business Insider)
Strategy
What to do when your stock plunges. (Clear Eyes Investing)
Expectancy and the importance of knowing your system. (Ivanhoff Capital)
A few notes on Meb Faber’s Global Value: How to Spot Bubbles, Avoid Market Crashes, and Earn Big Returns in the Stock Market. (CXO Advisory)
Berkshire Hathaway
Why big company board members don’t rock the boat. (Vitaliy Katsenelson)
Berkshire Hathaway is pulling back from catastrophe reinsurance. (FT)
Apple
Apple ($AAPL) reportedly to buy headphone maker Beats. (WSJ, The Verge, Recode, Dealbook)
Apple needs a cool infusion. (Phil Pearlman, Leonid Bershidsky)
It’s hard to see how this is good news for Apple. (Om Malik, FT Alphaville)
Has Apple really missed out on the cloud? (Asymco)
Finance
Is investment banking dying? (Forbes)
Why private equity is attracted to younger companies. (Dealbook)
Confidence in US stock exchanges is low. (FT)
Young bankers are leaving Wall Street for startups. (Bloomberg)
Funds
Just how well has GMO done “sidestepping” bubbles. (A Wealth of Common Sense)
How to avoid overfitted investment strategies. (Rekenthaler Report)
Why do investors love large hedge funds? (All About Alpha)
Why junk bond ETF volume is so high. (Focus on Funds)
Global
Oil is getting increasingly expensive to find. (Businessweek)
Earlier on Abnormal Returns
What you may have missed in our Thursday linkfest. (Abnormal Returns)
Mixed media
The ultimate cheat sheet to being a better negotiator. (Altucher Confidential)
Rents are on the rise. Where will talent go? (Conor Sen)
The world is facing a bourbon shortage. (Time)
The Go-Go’s play “We Got the Beat.” (YouTube)
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