Book recommendation: The Achievement Habit: Stop Wishing, Start Doing, and Take Command of Your Life by Bernard Roth is “an enjoyable, uplifting read.” (Reading the Markets)
Quote of the Day
"Market tops and market bottoms are fundamentally herd behavior. And while I'm sure that every cow in the herd feels that she is special, just a little bit more insightful than the average cow, collectively they are a bovine mass."
(Megan McArdle)
Chart of the Day
We have seen some pretty impressive spikes in the $VIX of late.
Markets
- Yesterday was no Black Monday. (streetwiseprofessor.com)
- Where does this pullback rank in the current bull market? (vixandmore.blogspot.com)
- Stocks (briefly) yielded more than 10-year Treasuries. (marketanthropology.com)
- Over the long run, 10% corrections are hard to find in the charts. (priceactionlab.com)
Strategy
- Some people shouldn't be in stocks and that is okay. (blogs.wsj.com)
- Your portfolio should look like a baseball lineup. (castlebaram.com)
- For your portfolio's sake you should be watching more ESPN and less CNBC. (nytimes.com)
Offers
- Cord cutters still need to watch football. What you need is a HDTV antenna... (amazon.com)
- Karma Go: WiFi That Goes Wherever You Do. Join now and get $10 off. (yourkarma.com)
- The 4th annual Stocktoberfest is here. Where the BEST in fintech, trading and investing meet. Early Bird tickets are running out! (stocktoberfest.co)
Declines
- Some good things about stock market crashes. (bloombergview.com)
- You need to have a plan before the correction, not during. (awealthofcommonsense.com)
- Not all that much changed yesterday. (alephblog.com)
Finance
- Yesterday was a good day for high frequency traders like Virtu ($VIRT). (wsj.com)
- When to dump your hedge fund manager. (ft.com)
- Big banks are using "trading simulators" to see if their interns have the right stuff. (news.efinancialcareers.com)
Funds
- Only 50 mutual funds passed this screen. (news.morningstar.com)
- The ETF Deathwatch for August 2015 is growing. (investwithanedge.com)
- What is happening when a majority of managers are outperforming their "style box"? (rickferri.com)
China
- Chinese officials have shown a willingness to act. (economist.com)
- China's stock market shouldn't be your primary worry. (ftalphaville.ft.com)
- There is a buying opportunity in Chinese stocks somewhere down the road. (shortsideoflong.com)
Economy
- Weakness overseas should guide the Fed. (econbrowser.com)
- The job losses from the Great Recession were much more severe than prior episodes. (economistsview.typepad.com)
Earlier on Abnormal Returns
- Startup links: leadership lessons. (abnormalreturns.com)
- Moderately overvalued to moderately undervalued. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
- August book round-up: all the book links we ran in the past month. (abnormalreturns.com)
