Book recommendation: Olivia S. Mitchell recommends everyone read John Kenneth Galbraith’s The Great Crash: 1929. (WSJ)
Quote of the Day
"The risk of paying too high a price for good-quality stocks – while a real one – is not the chief hazard confronting the average buyer of securities. Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions. The purchasers view the current good earnings as equivalent to “earning power” and assume that prosperity is synonymous with safety."
(Benjamin Graham)
Markets
Strategy
- How the tech bubble stole returns from future years. (awealthofcommonsense.com)
- The great traders were willing to bet big on their high conviction trades. (thefelderreport.com)
Companies
- Pharma companies can't keep their hands off each other. (bloomberg.com)
- Why Apple ($AAPL) needs to be seen as a "green" company. (stefancheplick.tumblr.com)
- Companies, like John Deere ($DE), are trying to destroy the idea of ownership. (wired.com)
Warren Buffett
- Three ways to run your company like Warren Buffett (fortune.com)
- Should Berkshire Hathaway's ($BRKB) insurance operations be considered "too big to fail"? (ft.com)
Social finance
- Online brokers have noted the rise of social media use amongst traders. (wsj.com)
- Where to to look for market info in a flatter new financial world. (pointsandfigures.com)
- Good luck trading options against a bot. (slate.com)
Finance
- Are we going to see more B-corps go public? (washingtonpost.com)
- Share buybacks are pinching investment grade credit quality. (ft.com)
- Why cash managers are willing to accept negative interest rates. (alephblog.com)
- Norway's sovereign wealth fund wants one dark pool to rule them all. (bloomberg.com)
Funds
- ETFs are great, but they are not the only solution for investors. (rickferri.com)
- Six questions to ask about your active manager. (news.morningstar.com)
- 12 go-to ETF sites for investors. (news.investors.com)
Global
Economy
Earlier on Abnormal Returns
- Startup links: starting companies outside the Valley. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
