Book review: The Devil’s Financial Dictionary by Jason Zweig will help you “shed costly misconceptions and acquire wisdom..” (Barron’s)
Quote of the Day
"(M)ost people think trading is about having great ideas and great reasons for those ideas. I’d argue that everything else–everything that people talk about so little–those are the things that really matter."
(Adam Grimes)
Chart of the Day
US economic surprises are surprisingly bad.
Markets
- Big one-day rallies and price swings are characteristic of downtrends, not bull markets (thereformedbroker.com)
- More signs of growing pessimism. (shortsideoflong.com)
Strategy
- What kind of returns can you expect from a 60/40 portfolio? (awealthofcommonsense.com)
- What happens if everyone indexed? (etf.com)
- Hedged foreign bonds are notably less volatile. (blog.abglobal.com)
Offers
- Ben Bernanke's new memoir "The Courage to Act: A Memoir of a Crisis and Its Aftermath" is out and he is making the rounds. (amzn.to)
- Modern Trader Magazine—the essential journal for professional traders and active investors. Check out this special subscription offer including a free investment classic! (moderntrader.com)
Companies
- Nelson Peltz has taken a big stake in GE ($GE). (wsj.com)
- Jack Dorsey is doing double-duty as the new permanent CEO of Twitter ($TWTR). (bloomberg.com)
Finance
- High frequency traders as a force for good. (bankers-anonymous.com)
- Fintech is more about marketing than innovation. (ftalphaville.ft.com)
Funds
- The best performing ETFs of the year. (etf.com)
- How target-date funds holding up this year. (wsj.com)
Global
- Growth prospects in Canada look none too good. (soberlook.com)
- The decline in oil production hasn't accelerated...yet. (econbrowser.com)
Economy
- The September non-manufacturing ISM report showed expansion at a slower rate. (calculatedriskblog.com)
- Entry level workers are becoming a tight commodity. (csen.tumblr.com)
- The evidence is that the economy is still growing slowly but steadily. (fat-pitch.blogspot.com)
Earlier on Abnormal Returns
- Research links: factor allocations. (abnormalreturns.com)
- What you may have missed in our Sunday linkfest. (abnormalreturns.com)
