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Quote of the Day
"How much does experience matter with investing? When is it okay, if ever, for intuition to override data?"
(Michael Batnick)
Chart of the Day

Are you sure you want to be chasing growth stocks in here?
Markets
- Comparing China's stock market bust to 1929 and Japan in 1989. (qz.com)
- Investors eat dollar-weighted returns. (thealephblog.tumblr.com)
- A buy signal awaits for emerging market equities. (ftalphaville.ft.com)
- Behold the rise in 52-week lows. (shortsideoflong.com)
- The case for MLPs. (sl-advisors.com)
Gold
- The case for gold: a low correlation with equities. (alphabaskets.com)
- The contrarian case for gold and gold miners. (thefelderreport.com)
Debt
- A shakeout is coming for all those yield seekers in the high yield bond market. (thereformedbroker.com)
- Just how badly has the Fed been punishing savers this decade. (awealthofcommonsense.com)
- Has the debt cycle swung too far? (economicmusings.com)
Apple
- Markets were disappointed by Apple's ($AAPL) Q3 strong earnings. (bloomberg.com)
- Apple ($AAPL) is mum on Watch sales. (recode.net)
Finance
- Wells Fargo ($WFC) is now the world's biggest bank by market cap. (wsj.com)
- Donald Trump was a stock market disaster. (marketwatch.com)
Funds
- We really don't know all that much about investment manager processes. (researchpuzzle.com)
- Tim Edwards, "the average hedge fund looks like a fixed blend of cheap investments, at high cost." (etftrends.com)
- ETF statistics for June 2015. (investwithanedge.com)
Economy
- Are we still in the middle of the economic expansion? (pragcap.com)
- Home sales are at an eight and a half year high. (nytimes.com)
- Why we should be surprised entrenched entrants oppose Uber. (psyfitec.com)
Earlier on Abnormal Returns
- Personal finance links: trust-me finance. (abnormalreturns.com)
- A round-up of book-related links from over the past month. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)