Book reader: The case for the new Kindle Paperwhite. (The Verge)
Book list: A bunch of summer book recommendations from Wall Street big shots including Bill Ackman’s call to read Peter Thiel’s Zero to One: Notes on Start Ups, or How to Build the Future. (Bloomberg)
Quote of the Day
"The Fed itself doesn’t know where the economy will be next month, quarter or year. It never has. It never will. Economists don’t know either."
(Josh Brown)
Markets
- Why you should ignore the "Buffett indicator." (valueplays.net)
- China's stock market can consolidate without crashing. (marketanthropology.com)
- Two ways to trade Greece. (humblestudentofthemarkets.blogspot.com)
Strategy
- Predicting bear markets is fun but not useful. (awealthofcommonsense.com)
- When industry valuations get out of whack. (mebfaber.com)
Companies
- Is Airbnb worth more than Marriott ($MAR)? (wsj.com)
- This California decision could put the sharing economy at risk. (fortune.com)
- On the power of the pre-installed app. (macworld.com)
Finance
- Today's new lenders are a familiar bunch of hedge funds, ETFs and oh year, Goldman Sachs ($GS). (ft.com)
- Why fintech won't kill the big banks. (economist.com)
- Poor liquidity is here to stay. (ftalphaville.ft.com)
Funds
- The closed-end fund universe is shrinking. (news.morningstar.com)
- The ETF Deathwatch for June 2015. (investwithanedge.com)
- John Authers, "Being a small fund manager on its own does not guarantee results — but the high conviction and specialisation of small boutiques means they have a good chance of beating their benchmarks." (ft.com)
- A look at merger arb ETPs. (news.morningstar.com)
Global
- Britain's labor market is heating up. (economist.com)
- Plenty of European countries do fine without the Euro, Greece can as well. (bloombergview.com)
Economy
- Is inflation finally creeping higher? (crossingwallstreet.com)
- Does it really matter when the Fed raises rates? (nytimes.com)
- A redacted version of the June 2015 FOMC Statement. (alephblog.com)
Earlier on Abnormal Returns
- Longform links: code and cloth. (abnormalreturns.com)
- What you might have missed in our Wednesday linkfest. (abnormalreturns.com)
