Book excerpt: A look at Gillian Tett’s new book The Silo Effect: The Peril of Expertise and the Promise of Breaking Down Barriers. (FT)
Quote of the Day
"(T)here are no holy grails. Nothing works all the time. If you don’t hate something in your portfolio most of the time then it probably means you’re not diversified."
(Cullen Roche)
Markets
- Newsletter writers are as bearish as they have been since 2009. (shortsideoflong.com)
- The St. Louis Fed’s Financial Stress Index is elevated but nowhere near panic levels. (blogs.wsj.com)
Strategy
- Why most foundations could do just as well investing in a simple indexed portfolio. (mebfaber.com)
- Are active managers getting a bad rap? (blogs.cfainstitute.org)
Offers
- You can get the newly released "DIY Financial Advisor" by Wes Gray, Jack Vogel and David Foulke on discount at Amazon. (amazon.com)
- Stocktoberfest 2015 is quickly approaching. Don't miss out on the conference that explores the world between fintech and the stock market. (stocktoberfest.co)
Funds
- The Pimco Total Return fund is now at 1/3 of its peak assets under management. (bloomberg.com)
- Lower fees are coming for hedge funds. (ft.com)
Fintech
- A raft of startups are mining Twitter for market-based signals. (ft.com)
- How crowdsourced data could put the hurt on financial middlemen. (theage.com.au)
Global
- The global economy has a demographic problem. (ft.com)
- Russia's dependence on oil and gas is coming back to bite it. (wsj.com)
- 100 years of Latin American growth. (bloombergview.com)
Economy
- The August ISM Non-manufacturing index was strong. (calculatedriskblog.com)
- The evidence behind the "jobs ladder" story. (libertystreeteconomics.newyorkfed.org)
Earlier on Abnormal Returns
- Longform links: airline wifi woes. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in August 2015. (abnormalreturns.com)
