Book list: Only 12 weeks to Labor Day! Check out Barry Ritholtz’s reading list including Misbehaving: The Making of Behavioral Economics by Richard H. Thaler. (Bloomberg)
Quote of the Day
"Diversification is essential to prudent investment but the herding behaviour of modern investors means that in the short term almost every asset is correlated with every other, even if the underlying characteristics of the assets are completely different."
(John Kay)
Markets
- M&A surges often precede bear markets. (marketwatch.com)
- Volatility has been quite muted of late. (jlfmi.tumblr.com)
- Are stock bulls simply in denial? (thefelderreport.com)
- Fewer stocks are participating in the rally. (shortsideoflong.com)
- The stock market is not the economy. (pensionpartners.com)
Strategy
- Asset allocation is an individual matter. (priceonomics.com)
- Cullen Roche, "(O)nce you deviate from global cap weighting you are essentially saying that “the market” is wrong for some reason. And you are claiming that you can do better than that portfolio." (pragcap.com)
- David Merkel, "Risk premiums aren't free money..." (alephblog.com)
Finance
- Why Google ($GOOGL) should be paying a dividend. (charlessizemore.tumblr.com)
- The SEC wants to update fund reporting. (news.morningstar.com)
Funds
- Expect to see Chinese shares in more emerging market equity indices. (ft.com)
- Breaking news: investors are willing to pay up for past performance. (ai-cio.com)
Economy
- The ADP private payroll numbers showed more growth for May. (calculatedriskblog.com)
- Auto sales are at a 10-year high. (crossingwallstreet.com)
- Where are all the female academic economists? (theguardian.com)
Earlier on Abnormal Returns
- Personal finance links: identifying bad financial advice. (abnormalreturns.com)
- What you might have missed in our Tuesday linkfest. (abnormalreturns.com)
