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Quote of the day
Bethany McLean, “But being Microsoft’s C.E.O. may still be the toughest job in business.” (Vanity Fair)
Chart of the day

GoPro ($GRPO) has been the definition of a ‘pain trade.’ (MoneyBeat)
Markets
Remember 2007? That year kind of sucked. (Pension Partners)
The grains are doing something different. (Adam Grimes, See It Market)
Crude oil is in a bear market. (Bespoke)
Companies
Why 3M ($MMM) ain’t breaking up any time soon. (Michael Santoli)
Yahoo ($YHOO) should take a clue from the Hewlett Packard ($HPQ) breakup. (Bloomberg View)
Elon Musk is the true successor to Steve Jobs. (Quartz)
Finance
The new earnings normal at Goldman Sachs ($GS) is not that great. (Dealbook)
Why the big banks are unlikely to get disrupted by Bitcoin any time soon. (Pragmatic Capitalism)
Is there a corporate bond liquidity problem? (FT Alphaville)
Funds
Why Wall Street is pushing so hard on the alternative asset fund front. (The Reformed Broker)
The new ‘bond king‘ is a computer. (Total Return)
Do you have a plan for your underperforming mutual fund? (A Wealth of Common Sense)
Economy
Why the US dollar has been so strong this year. (The Upshot)
Earlier on Abnormal Returns
Value investing in the financial blogosphere: five recent undervalued posts. (Enterprising Investor)
What you might have missed in our Tuesday linkfest. (Abnormal Returns)
Mixed media
How companies like Vivint ($VSLR) and SolarCity ($SCTY) are turning the US into a solar powerhouse. (Slate, NYTimes)
Why buying experiences trumps buying material things. (The Atlantic)
The many upsides of owning an inexpensive car. (Aleph BLog)
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