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Quote of the day
Morgan Housel, “One reason finance is a breeding ground for disagreement is because everyone gets their own version of history based on their own unique life experiences.” (Motley Fool)
Chart of the day
Nearly half of the Nasdaq stocks are in a “bear market.” (Dana Lyons)
Markets
Breadth by market cap. (Bespoke)
How is the Global Market Index doing? (Capital Spectator)
The buyback boom is slowing. (Pragmatic Capitalism)
CTAs had a good month. (Focus on Funds, Au.Tra.Sy Blog)
Bears
Why the media loves calls for a market crash. (Above the Market)
Is CNBC now turning on its bearish commentators? (Business Insider)
Strategy
Why you should be cultivating your strengths to aid your trading. (TraderFeed)
On the relationship between post-earnings announcement drift and 52-week highs. (Alpha Architect)
Companies
The biggest worry about Alibaba ($BABA) seems to be governance. (Musings on Markets, FT Alphaville, Dealbook)
Boeing ($BA) and SpaceX win contracts to shuttle astronauts to the ISS. (WashingtonPost, WSJ)
How Warren Buffett’s acquisition of Benjamin Moore went off-track. (Fortune)
Nelson Peltz wants to break up DuPont ($DD). (WSJ, Dealbook, MoneyBeat)
Peter Thiel
Eight things learned from Peter Thiel’s Zero to One: Notes on Startups, or How to Build the Future. (Farnam Street)
Thiel needs a lesson on macroeconomics. (Pragmatic Capitalism)
Peter Thiel on diversification. (Reading the Markets)
Discussing the lessons from Peter Thiel’s Zero to One: Notes on Startups, or How to Build the Future. (a16z podcast)
Funds
Who should get top billing: the index or the ETF manager? (FT)
Why fund fees matter. (A Wealth of Common Sense)
Benchmarks have a disproportionate effect on emerging markets. (FT)
Economy
Inflation just can’t seem to find any traction. (Calculated Risk)
The Business Cycle Index points towards steady growth. (Big Picture)
You can’t feed a family with GDP. (The Upshot)
Earlier on Abnormal Returns
Hedge fund picking is hard. (Abnormal Returns)
What you might have missed in our Tuesday linkfest. (Abnormal Returns)
Apple
The reviews for the iPhone 6 are rolling and are uniformly positive. (Recode, Yahoo, NYTimes, WSJ, BW)
The iPhone 6 Plus is a very different animal. (Daring Fireball, TechCrunch)
Don’t forget that iOS 8 is coming as well. (WSJ, The Switch, Quartz)
How the iPhone 6 could change weather forecasting. (Slate)
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