Book excerpt: Three skills humans need in an automated age. An excerpt from Geoff Colvin’s Humans Are Underrated: What High Achievers Know That Brilliant Machines Never Will. (Fortune)
Quote of the Day
"The bottom line – you should just about always hold SOME stock market exposure (preferably via low fee index funds). The stock market is an essential piece of a well diversified portfolio and it’s only as scary as you make it."
(Cullen Roche)
Chart of the Day

“Gold and the Japanese yen have trended closely together since the equity markets peaked in October 2007 and the financial crisis unfolded over the next two years.”
Markets
- World equity markets are still in a bull market. (shortsideoflong.com)
- The equal-weighted Nasdaq 100 ($QQEW) is weakening on a relative basis. (jlfmi.tumblr.com)
- Why real interest rates are a threat to gold. (thereformedbroker.com)
Strategy
- Why it's ok to ignore your portfolio. (etf.com)
- The problem with bond indexing. (awealthofcommonsense.com)
Companies
- Apple ($AAPL) is quickly iterating the Apple Watch. (nytimes.com)
- Some one who actually likes what Marissa Mayer is doing at Yahoo ($YHOO). (peridotcapital.com)
Economy
- Still no sign of a pick up in weekly initial unemployment claims. (calculatedriskblog.com)
- Should we be worried about a tighter labor market? (ryandetrick.tumblr.com)
Earlier on Abnormal Returns
- Longform links: why the blockchain matters. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- A round-up of book-related links from over the past month. (abnormalreturns.com)