Book excerpt: Sheila Bair fictionalized the financial crisis in The Bullies of Wall Street: This is How Greed Messed Up Our Economy. (Fortune)
Quote of the Day
"It's great to focus on our mistakes and correct our errors. Reducing the negatives of performance, however, will never in itself generate elite positives. If you want to perform at high levels, you have to study--and internalize--high level performance."
(Brett Steenbarger)
Markets
- Why stocks should outperform bonds over the next ten years. (econompicdata.blogspot.com)
- Revisiting what Warren Buffett had to say about the stock market 16 years ago. (charlessizemore.tumblr.com)
- Just how bubblicious is China's stock market? (economist.com)
- The strong US dollar is a shadow over earning season. (humblestudentofthemarkets.blogspot.com)
- A look at just how bad this commodity market crash has been. (shortsideoflong.com)
Strategy
- Performance chasing in the liquid alternatives space. (managed-futures-blog.attaincapital.com)
- On the use of smart beta funds in strategic asset allocation. (capitalspectator.com)
- Are high yield munis a viable asset class? (blogs.barrons.com)
- Hard to believe they still sell index funds with a sales load... (blog.alphaarchitect.com)
Finance
- Laurence Fink of Blackrock ($BLK) is worried that US companies are caving in too easily to activist investors. (nytimes.com)
- Corporate pension funds can't get enough corporate bonds. (wsj.com)
- A closer look at the JP Morgan ($JPM) 2014 annual report. (brooklyninvestor.blogspot.com)
- Wall Street firms are relying ever more on technology. (businessinsider.com)
Global
Economy
- Have profit margins peaked? (blog.yardeni.com)
- Small business optimism dropped in March. (calculatedriskblog.com)
- Why real interest rates aren't going anywhere fast. (researchaffiliates.com)
- Economists think economists are awesome. (m.theatlantic.com)
Earlier on Abnormal Returns
- Startup links: dinosaur incumbents. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
Mixed media
- Om Malik, "Apple has taken craftsmanship to an industrial scale. It is the only technology company to take an artisan’s approach to making its products, however limited their shelf life might be." (om.co)
- Horace Deidu, "The Apple Watch would be as much a watch as the iPhone is a phone." (asymco.com)
- Apple's ($AAPL) new Photo app is a big upgrade over iPhoto. (recode.net)
