Quote of the day
As fan of CNBC, it’s definitely time for a show called “Slow Money”. Every episode: “Nothing much changed today. Holding same stocks.”
— Marc Andreessen (@pmarca) November 23, 2014
Chart of the day

The case for a Euro stock bounce: rising forward economic expectations. (BCA Research)
Markets
By this measure the US stock market is dramatically overvalued. (Dana Lyons)
It’s worth asking: are investors too complacent? (A Dash of Insight)
US states and municipalities are by and large on firm footing. (Barron’s)
Commodities
Palladium is lone standout in the precious metals space. (All Star Charts)
Gold forward rates are now negative. (ETF Trends)
Why weather patterns matter for natural gas prices. (Bespoke)
Strategy
International stocks have been down so long… (Jason Zweig)
Diversified portfolios always have some asset underperforming. (Irrelevant Investor)
Defensive sectors tend to have positive participation ratios. (SSRN via @quantivity)
Time
Want to win a markets-related argument? Just change the time horizon. (A Wealth of Common Sense)
Our financial lives are intertwined with perceptions about time. (Pragmatic Capitalism)
Books
Four books that are a lot better than what is served up in Tony Robbins’ Money: Master the Game, 7 Simple Steps to Financial Freedom. (Bason Asset Management)
A review of Kim Shannon’s The Value Proposition: Sionna’s Common Sense Path to Investment Success.. (Enterprising Investor)
Funds
Why investment teams need to be diverse. (John Authers)
Investors are wising up by avoiding the A-shares of mutual funds. (InvestmentNews)
Why invest in a hedge fund when you can invest in a fund’s fee-generating capabilities? (Barron’s)
Global
Investors are pessimistic about non-US markets. (Alpha Now)
The most important economic charts of the week. (Quartz)
Is demography playing a role in the secular stagnation we are seeing? (Economist)
Economy
The central paradox facing the US economy. (The Upshot)
The Fed is more of disinflation than previously thought. (BCA Research, Sober Look)
A look at the post-crisis transformation of the American jobs economy. (Conor Sen)
A look back at the economic week that was. (Big Picture)
The economic schedule for the coming week. (Calculated Risk)
Earlier on Abnormal Returns
Top clicks this week on the site. (Abnormal Returns)
What you might have missed in our Saturday linkfest. (Abnormal Returns)
Mixed media
It should be obvious why Millennials are scared of stocks. (Morgan Housel)
Recent college graduates are adding certificates to make themselves more employable. (WSJ)
You can support Abnormal Returns by visiting Amazon, signing up for our daily newsletter or following us on StockTwits, Yahoo Finance and Twitter.