Book list: A summer reading list for geeks including SuperBetter: A Revolutionary Approach to Getting Stronger, Happier, Braver and More Resilient by Jane McGonigal. (WSJ)
Quote of the Day
"If a declining market is a problem for you, don't own stocks. Or only own enough so that this sort of volatility won't be a problem."
(The Brooklyn Investor)
Chart of the Day

Stocks above their 200 day moving average are few and far between.
Markets
- Just how crazy the last few days have been for the markets. (bloomberg.com)
- The spike in the $VIX has been impressive by historical standards. (ritholtz.com)
- How long does it take the stock market to bottom after a $VIX spike? (shortsideoflong.com)
- Only one asset class stands out during this market downturn. (adamhgrimes.com)
Strategy
- Why the CAPE is a poor market timing tool. (theirrelevantinvestor.wordpress.com)
- What is the proper goal of market timing? (mebfaber.com)
- How to build a market strategy you can follow. (adamhgrimes.com)
Companies
- Is a Twitter ($TWTR) acquisition an inevitability? (fortune.com)
- Apple ($AAPL) services revenue is bigger than you think. (asymco.com)
Offers
- The 4th annual Stocktoberfest is here. Where the BEST in fintech, trading and investing meet. Early Bird tickets are running out! (stocktoberfest.co)
- Karma Go: WiFi That Goes Wherever You Do. Join now and get $10 off. (yourkarma.com)
- This looks like a pretty good pre-order price on Philip Tetlock's forthcoming "Superforecasting: The Art and Science of Prediction." (amzn.to)
Finance
- The market correction is exposing the cracks in the current stock market structure. (wsj.com)
- On the decline of the standalone investment banking industry. (ft.com)
- Regional banks are stealing employees left and right. (bloomberg.com)
Funds
- Vanguard launches its first muni bond index fund: Vanguard Tax-Exempt Bond Index ETF ($VTEB). (blogs.barrons.com)
- Alternative asset funds were supposed to protect investors from market declines. (wsj.com)
China
- What investors should know about China. (dashofinsight.com)
- Can China successfully shift to a consumption based economy? (ft.com)
- China's economic problems are already captured in expectations for the US economy. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Personal finance links: automating understanding. (abnormalreturns.com)
- What you may have missed in our Tuesday linkfest. (abnormalreturns.com)
- August book round-up: all the book links we ran in the past month. (abnormalreturns.com)