Book release: Meb Faber’s Global Asset Allocation: A Survey of the World’s Top Asset Allocation Strategists is now out and available for download. You can read the introduction online.
Quote of the Day
"The greatest trick the devil ever pulled was convincing investors that volatility and risk were the same thing. On Wall Street anyway."
(Joshua Brown)
Markets
- February was big month for stock buybacks. (bloomberg.com)
- Stanley Druckenmiller likes Europe and Japan a lot more than the US at present. (marketfolly.com)
- The top 10 buys (and sells) from the ultimate stock pickers. (news.morningstar.com)
Companies
- A thoughtful look at what it will take for Apple ($AAPL) to reach a $1 trillion in market cap. (aboveavalon.com)
- Haven't pundits learned not to trash an Apple product prior to launch? (businessinsider.com)
- Who to believe in the Lumber Liquidators ($LL) saga? (kiddynamitesworld.com)
Finance
- Where did all the tech IPOs go? (fortune.com)
- JP Morgan ($JPM) is tilting towards the consumer side. (nytimes.com)
- Is this hedge fund activism gone too far? (qz.com)
- Can Robinhood drive industry stock commissions down to $0? (bloomberg.com)
Berkshire Hathaway
- More lessons learned from Warren Buffett's shareholder letter. (pragcap.com)
- The "secret" of Berkshire Hathaway ($BRKB) is hidden in plain sight. (soberlook.com)
- What is Warren Buffett's secret sauce? (nytimes.com)
- Why Warren Buffett hates bankers. (fortune.com)
- Where did Buffett's alpha go? (alphaarchitect.com)
Funds
- Comparing the big momentum factor ETFs. (news.morningstar.com)
- Five mutual funds that are sitting on a big slug of cash. (news.morningstar.com)
- Are DFA's funds active or passive? (advisorperspectives.com)
- Nuveen missed the boat on bond ETFs. (investmentnews.com)
Global
- On the global shortage of safe assets. (ft.com)
- Europe's economy is still on a knife's edge. (soberlook.com)
- What next for Greece? (newyorker.com)
- A third of Europe's sovereign bonds trade with a negative yield. (ftalphaville.ft.com)
Earlier on Abnormal Returns
- There are no guarantees when it comes to life (or investing). (abnormalreturns.com)
- Startup links: ugly ducklings vs. black swans. (abnormalreturns.com)
- On the importance of checklists for traders. (traderfeed.blogspot.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
