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Quote of the Day
"Expect modest returns from stocks and bonds. The worst that will happen is you’ll save too much."
(Jonathan Clements)
Markets
- A review of major asset class performance in December 2014. (capitalspectator.com)
- Risks the market has not yet discounted. (humblestudentofthemarkets.blogspot.com)
- CTAs bounced back in 2014. (cnbc.com)
Strategy
- The problem with using one year performance numbers. (awealthofcommonsense.com)
- On the difference between absolute and relative momentum. (dualmomentum.net)
- Of course year-end forecasts are going to be wrong. (pragcap.com)
Companies
- Facebook ($FB) is the new AOL and other 1990s analogies. (theverge.com)
- Netflix ($NFLX) is cracking down on foreigners accessing its US site. (qz.com)
Apple
- Apple ($AAPL) has lost the functional high ground. (marco.org)
- The big questions facing Apple ($AAPL) in the new year. (aboveavalon.com)
- Is Apple ($AAPL) going to re-think the iPad in 2015? (medium.com)
Finance
- The IPO market looks strong going into the new year. (dealbook.nytimes.com)
- The economics of the global retail forex trading business. (ft.com)
- The municipal bond market is shrinking. (bloomberg.com)
Funds
- Nasdaq ($NDAQ) to acquire ETF provider Dorsey Wright. (etf.com)
- Vanguard is just crushing the competition. (wsj.com)
- Active manager Dodge & Cox is garnering inflows. (ft.com)
Economy
- Cheap gas is enticing Americans back into trucks. (bloomberg.com)
- Lumber prices are down year-over-year. (calculatedriskblog.com)
- Martin Wolf reviews Richard Koo's "The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy."* (ft.com)
Earlier on Abnormal Returns
- Research links: is indexing changing the stock market. (abnormalreturns.com)
- What you may have missed in our Sunday linkfest. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in December 2014. (abnormalreturns.com)
