Six lessons Morgan Housel learned from Frederick Lewis Allen’s Since Yesterday: The 1930s in America. (Motley Fool)
Quote of the Day
"Wherever Vanguard appears, it changes the landscape.."
(Detlef Grow)
Chart of the Day

The median P/E multiple for US stocks is at a historical high. (via James Paulsen, Wells Capital Management)
Bonds
- Nine reasons why bond yields are falling. (blog.yardeni.com)
- The 30-year Treasury bond yield is trading at a historical low. (blogs.barrons.com)
- The bull market that is Aussie bonds. (macrobusiness.com.au)
Strategy
- Should you buy shares in the 'most despised' company in America? (marketwatch.com)
- Why the all-or-nothing nature of market timing is its downfall. (brooklyninvestor.blogspot.com)
- Beware the salesman bearing hedge fund 'alpha.' (budfoxnews.com)
Companies
- Utilities are slowly coming to terms with disruptive forces. (ft.com)
- Etsy is hard at work handcrafting its newly filed for IPO. (bloomberg.com)
- Apple's ($AAPL) Siri is getting better. (daringfireball.net)
Bitcoin
- Bitcoin has been a worse bet the Ruble. (qz.com)
- The drop in Bitcoin is finally beginning to bite. (dealbook.nytimes.com)
- What it would take for Bitcoin to become mainstream. (blogs.cfainstitute.org)
ETFs
- How to use bond ladder ETFs in your portfolio. (news.morningstar.com)
- The ETF pipeline is getting crowded. (ft.com)
Economy
- Retail sales fell in December. (calculatedriskblog.com)
- Household debt servicing is at a historical low. (calculatedriskblog.com)
- Some signs of wage inflation. (ritholtz.com)
- Mortgage refinancing surged on lower rates. (wsj.com)
- Manufacturing is returning to the US. (wsj.com)
Earlier on Abnormal Returns
- Personal finance links: time-constrained investing. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)