Quote of the day

Ben Carlson, “Perception can make a huge difference in how we feel about our finances at different points in time.”  (A Wealth of Common Sense)

Markets

Why we may be in store for a decade of low returns.  (Short Side of Long)

Wealthy investors are leveraging up their portfolios.  (WSJ)

Why you should Google your favorite perma-bear.  (Big Picture)

Strategy

Why you need to understand your “real, real returns.”  (Pragmatic Capitalism)

Michael Batnick, “Your behavior can have a much larger affect on your portfolio than geopolitics, political turmoil or even recessions.”  (Irrelevant Investor)

Why second-guessing your asset allocation can be so damaging.  (Bason Asset Management)

Trading

You should act as if commissions were $0.  (Gatis Roze)

How to get a job at a trading firm.  (TraderFeed)

A list of the top ten trading books including The Playbook by Mike Bellafiore.  (SMB Training)

Finance

Energy M&A shows little sign of slowing.  (Dealbook)

On the advantages of smaller boards of directors.  (The Atlantic)

This is the golden age of corporate tax avoidance.  (Dealbook)

Now young bankers can’t even pick fun code names for deals.  (WSJ)

Funds

Blackstone Group ($BX) is putting together a balls-to-the-wall hedge fund.  (WSJ)

On the (long term) dangers of chasing hedge fund winners.  (All About Alpha, CNBC)

The opportunity in closed-end funds for patient investors.  (FINalternatives)

Vanguard is cutting fees on its UK funds.  (FT)

Economy

A comprehensive look at the US housing economy through July.  (Bonddad Blog)

American companies are starting to spend.  (Quartz)

Earlier on Abnormal Returns

Moving past the active vs. passive debate.  (Abnormal Returns)

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

Mixed media

Aging and the ability to enjoy the more simple things in life.  (NYTimes)

How a walk can boost your creativity.  (Fast Company)

Curiosity is as important as intelligence. (HBR)

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