Book review: A look at some classic short-sale situations in Scott Frearon’s Dead Companies Walking: How A Hedge Fund Manager Finds Opportunity in Unexpected Places. (Barbarian Capital)
Quote of the Day
"The coolest feature of investing primarily via asset allocation is that 95% of news is instantly transformed into entertainment. Alchemy!"
(Joshua Brown)
Chart of the Day

How has China’s stock market outperformed given all that is going on?
Strategy
- Home bias can also lead to industry un-diversification. (monevator.com)
- Investors have been able to avoid the behavior gap in this big, index fund. (awealthofcommonsense.com)
- Gold is not for "serious investors." (dailyfinance.com)
- In certain markets seasonality is a real thing. (jayonthemarkets.com)
Companies
- LinkedIn ($LNKD) is crushing it. (ophirgottlieb.tumblr.com)
- MLB Advanced Media has become an elite technology provider. (wsj.com)
- SnapChat's model is far more traditional than commonly thought. (stratechery.com)
Finance
- Longevity risk is an increasing reality for pension funds. (wsj.com)
- JP Morgan Chase ($JPM) is trying to discourage big deposits from institutional clients. (wsj.com)
Funds
- Stock pickers are waiting out the end of the Fed era. (bloomberg.com)
- Signs that the ETF industry is rapidly maturing. (pionline.com)
- The SPDR DoubleLine Total Return Tactical ETF ($TOTL) launches today. (bloomberg.com)
Economy
- A closer look at relative income levels across the country. (ftalphaville.ft.com)
- What exactly constitutes 'behavioral economics'? (forbes.com)
Earlier on Abnormal Returns
- Startup links: introverted entrepreneurs. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)