Book notes: Some thoughts on Gary Antonacci’s Dual Momentum: An Innovative Strategy for Higher Returns and Lower Risk. (A Wealth of Common Sense)
Quote of the Day
"If you're stupid, you can really destroy [your portfolio] just as easily with either daily or intraday trading. We think ETFs give customers what they want. And if they use them badly, oopsie. If they use them well, they're wonderful tools."
(Rob Arnott)
Strategy
- The US stock market is the last man standing. (mebfaber.com)
- Never invest in something you can't understand. (pragcap.com)
- All strategies blow up. Get used to it. (gestaltu.com)
Companies
- Microsoft ($MSFT) accepted the reality of its disastrous Nokia acquisition. (businessinsider.com)
- Twitter ($TWTR) analysts generally don't tweet. (buzzfeed.com)
Index front-running
- Orders have impacts. Ignoring otherwise is just stupid. (kiddynamitesworld.com)
- Can you really game index funds? (bloombergview.com)
Finance
- Pressure aside, tax inversions keep happening. (wsj.com)
- Why the Bloomberg terminal is "costly, addictive and ubiquitous." (ft.com)
- Money keeps flowing into the online lending space. (wsj.com)
- A family office that isn't afraid of taking on some risk. (bloomberg.com)
Hedge funds
- Does it matter if a hedge fund has a good online presence? (ai-cio.com)
- Wall Street Week and the changing ways that hedge funds communicate. (blogs.cfainstitute.org)
ETFs
Greece
- There are only two scenarios for Greece. (humblestudentofthemarkets.blogspot.com)
- What Grexit would look like. (blogs.wsj.com)
China
- The psychology of the Chinese stock bust. (bloombergview.com)
- The Chinese reversal is classic. (economist.com)
- The many knock-on effects of the Chinese market meltdown. (qz.com)
- Why emerging markets are in flight mode. (ftalphaville.ft.com)
Earlier on Abnormal Returns
- Personal finance links: 401(k) fee madness. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)
