Book alert: An excerpt from Zac Bissonnette’s The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute. (NYPost)
Quote of the Day
"Investment committees, institutional asset managers, Morningstar, and others emphasize 3-year past performance as an indicator of future success, when the just opposite is likely to be true."
(Gary Antonacci)
Markets
- Can the stock market rise in spite of weak earnings? (skrisiloff.tumblr.com)
- IPOs often come back to let traders back in. (midnighttrader.tumblr.com)
- High yield bonds are once again overvalued. (blogs.barrons.com)
- European stock sentiment is pretty extended. (humblestudentofthemarkets.blogspot.com)
- Market timers are way long stocks. (shortsideoflong.com)
Trading
- On the value of building a better trading network. (smbtraining.com)
- Five questions to ask before every trade. (adamhgrimes.com)
Strategy
- Active investors are increasingly competing against themselves. (bloombergview.com)
- Thinking (and acting) long term works but few can manage it. (awealthofcommonsense.com)
Companies
- The things people say after a stock has doubled. (microfundy.tumblr.com)
- An informative Q&A with Dick Costolo, CEO of Twitter ($TWTR). (nytimes.com)
- Private equity is cashing out of their stakes in newly public companies. (fortune.com)
ETFs
- Risks squeezed from the banking system have popped up in bond ETFs. (ft.com)
- Is the Barclays Aggregate at-risk from smart beta competitors? (ft.com)
Global
- The FTSE 100 is not a great proxy for the British economy. (ftalphaville.ft.com)
- Why is Norway upping its stake in commercial real estate now? (wsj.com)
Economy
- Chemical industry is still pointing towards economic growth. (valueplays.net)
- Small businesses are getting increasingly optimistic. (washingtonpost.com)
- Cherry picking economic data is a well-worn pundit tactic. (capitalspectator.com)
Earlier on Abnormal Returns
- Personal finance links: kids and money. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)
