Book notes: Ten simple statements from books like Why We Don’t Learn from History by Liddell Hart that will make you think differently. (Morgan Housel)
Quote of the Day
"The idea of financial singularity may seem inspiring; but it is no less illusory than the rational Utopia that inspired generations of central planners. Human judgment, good and bad, will drive investment decisions and financial-market outcomes for the rest of our lives and beyond."
(Robert Shiller)
Chart of the Day
Long gasoline, short coffee: how assets have performed year-to-date.
Strategy
- Are gold miners a buy? Who knows. (bloombergview.com)
- Why investors are now searching out active funds. (thereformedbroker.com)
- A record low need not be a buy signal for the $VXX. (statisticalideas.blogspot.com)
- Where is there value in European stocks? (charlessizemore.tumblr.com)
- The chase for yield continues. (awealthofcommonsense.com)
Diversification
- The problem of naive diversification. (mullooly.net)
- The past year has not been kind to broadly diversified portfolios. (capitalspectator.com)
Companies
- It is too early to call the Apple ($AAPL) Watch a flop. (qz.com)
- 7 insights from Netflix's ($NFLX) earnings report. (buzzfeed.com)
Finance
- Private equity is bypassing banks to get their debt needs funded. (bloomberg.com)
- Five reasons private equity firms sell shares in themselves. (blogs.wsj.com)
- Don't confuse fundamental analysis with rote reporting. (humblestudentofthemarkets.blogspot.ca)
- Bitcoin trends in 2015. (avc.com)
ETFs
Global
Economy
- Homebuilder sentiment is at at ten-year high. (wsj.com)
- Weekly initial unemployment claims continue to trend below 300k. (calculatedriskblog.com)
- The risk management case for raising rates. (blogs.wsj.com)
- Rising rents are making it tough for Millennials to live in major cities. (bloomberg.com)
- How big a role small companies play in the economy. (blog.yardeni.com)
Earlier on Abnormal Returns
- Longform links: obnoxious ads. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
