Book review: William Bernstein raves about Andrew Ang’s Asset Management: A Systematic Approach to Factor Investing. (Enterprising Investor)
Quote of the Day
"The answer to whether you should use active strategies is not a binary yes or no. The answer to the question is unique to each individual and it is dependent on that investor’s temperament."
(Patrick O'Shaughnessy)
Markets
- The top 10 high conviction stock pickers. (news.morningstar.com)
- The stock market is choppy. How will it break? (humblestudentofthemarkets.blogspot.com)
Strategy
- Four things you should stop caring about. (fool.com)
- The Ten Harsh Financial Commandments. (theirrelevantinvestor.tumblr.com)
- Warren Buffett thinks you are an undisciplined investor. (jessefelder.tumblr.com)
Companies
Finance
- Charting the surprising rebound of the financial sector post-crisis. (nytimes.com)
- Why so many hedge funds are willing to sell a stake to "multi-boutiques." (ft.com)
- Why hedge funds are under so much criticism. (marketwatch.com)
Pension funds
- Pension funds are doing it wrong. (ftalphaville.ft.com)
- Hedge funds can underperform because their investors aren't their actual owners. (fortune.com)
ETFs
Economy
- What might go well in the economy? (bloombergview.com)
- The "own to rent" cycle is coming to a close. (calculatedriskblog.com)
- Housing construction rebounded in April. (capitalspectator.com)
Earlier on Abnormal Returns
- Startup links: what a VC does all day. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
