Can ‘mindful businesses’ actually balance compassion and capitalism? A review of David Gelles’ Mindful Work: How Meditation is Changing Business from the Inside Out. (FT)
Quote of the Day
"Never put two price series on the same chart, with two different price axes."
(Adam Grimes)
Chart of the Day

Morgan Housel, “Relative to bonds, S&P 500 companies may be about as cheap as they’ve ever been.”
Markets
- India is one foreign market at new highs. (allstarcharts.com)
- On the triumph of the boring 60/40 portfolio. (thereformedbroker.com)
- Stock market returns come in bunches. (crossingwallstreet.com)
Strategy
- Avoid promoted stocks like the plague. (alephblog.com)
- On the difference between momentum and trend following. (quant-investing.com)
Companies
- Some unsolicited advice for Twitter ($TWTR). (qz.com)
- Microsoft ($MSFT) in the age of Satya Nadella. (wired.com)
- A closer look at Marissa Mayer's plans for Yahoo ($YHOO). (nytimes.com)
- The Apple ($AAPL) App Store is the new Hollywood. (asymco.com)
McDonald's
- The big difference between McDonald's ($MCD) and Chipotle Mexican Grill ($CMG). (fortune.com)
- Why McDonald's ($MCD) sales are falling. (economist.com)
Funds
- When hedge funds don't hedge. (pragcap.com)
- A discussion with John Reese of the Validea Market Legends ETF ($VALX). (etfstore.com)
Earlier on Abnormal Returns
- Longform links: misleading street signs. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)