Book notes: A few thoughts on the third edition of Robert Shiller’s Irrational Exuberance. (CXO Advisory Group)
Quote of the Day
"This is also why you should run, not walk, away from anyone who shares views about the market from only one narrow always completely confident perspective."
(Charles Kirk)
Markets
- Investors are finally getting long-term optimistic. (thereformedbroker.com)
- Risk-on stocks have been leading the market YTD. (theirrelevantinvestor.tumblr.com)
- Five signs of a bubble. (bloombergview.com)
Strategy
- Great investors embrace chaos, not stability. (beyondproxy.com)
- Three misconceptions about risk management. (awealthofcommonsense.com)
- Commodities are not a real asset class. (pragcap.com)
- Five signs of a bubble. (bloombergview.com)
Companies
- Google ($GOOG) is the next Microsoft ($MSFT). (blog.kedrosky.com)
- On top of everything else Sears Holdings ($SHLD) has a pension plan problem. (wsj.com)
- It looks like Apple ($AAPL) is going to do a big revamp of Apple TV. (washingtonpost.com)
Finance
- Ben Bernanke is going to work with the big hedge fund Citadel. (nytimes.com)
- On the misalignment of incentives at some BDCs. (ft.com)
- Do muni bond insurers actually pay off? (blogs.wsj.com)
- What is the right size of the financial industry? (bloombergview.com)
- The finance industry is not going down without a fight. (awealthofcommonsense.com)
IPOs
- Last night was a big night for IPOs with three big debuts. (nytimes.com)
- Newly public Virtu ($VIRT) will now be the face of HFT. (wsj.com)
Funds
- High active share is no panacea for active managers. (ft.com)
- A closer look at the Vanguard Small-Cap Value ETF ($VBR). (news.morningstar.com)
Global
- German bund yields are essentially zero. (wsj.com)
- Europe is running out of children. (blogs.wsj.com)
Economy
- Weekly initial unemployment claims continue to trend below 300,000. (calculatedriskblog.com)
- How concerned should we be about the drop in industrial production? (scottgrannis.blogspot.com)
Earlier on Abnormal Returns
- Book link round-up: the second edition. (abnormalreturns.com)
- Longform links: the end of asymmetric information. (abnormalreturns.com)
- Personal finance links: earning your fees. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)
