Book review: Invest with the Fed: Maximizing Portfolio Performance by Following Federal Reserve Policy by Robert R. Johnson, Gerald R. Jensen and Luis Garcia-Feijóo “opens doors to new ideas.” (Enterprising Investor)
Quote of the Day
"The dead have their drawbacks. They make for dull company, and when the dishes need washing, they are never around. As investment mentors, however, they have their merits."
(John Rekenthaler)
Markets
- Keep an eye on the high yield market for stresses. (forbes.com)
- The $VIX is once again below 20. (crossingwallstreet.com)
- The case for capitulation in the energy sector. (shortsideoflong.com)
Strategy
- Stocks are set to enter the best six-month period of the year. (blogs.wsj.com)
- Tom Brakke, "It’s easy to lose sight of how investment advice is shaped by the business model of the person and/or organization providing it.." (researchpuzzle.com)
Companies
- Twitter ($TWTR) is nothing if not entertaining. (bloombergview.com)
- Pharmaceutical companies are addicted to price hikes. (wsj.com)
- Amazon Prime is wreaking havoc on college campuses. (businessinsider.com)
Finance
- Alphabet is buying a stake in Bloomberg-competitor Symphony. (ft.com)
- Activist investors are making increasingly bigger bets. (nytimes.com)
- Markets are more liquid but prone to spikes in illiquidity. (bloomberg.com)
- Yale has been a great training ground for endowment managers. (bloomberg.com)
Funds
- Why aren't bond ladders more popular? (etf.com)
- ETF investors can't get enough of the actively managed SPDR DoubleLine Total Return Tactical ETF ($TOTL). (etftrends.com)
Global
- Greece's bond market is the best performing YTD. (blogs.wsj.com)
- There are no signs of global inflation. (ftalphaville.ft.com)
- Norway may soon need to start tapping its sovereign wealth fund. (bloomberg.com)
Economy
- More signs of slowing US economic growth. (capitalspectator.com)
- Ben Bernanke is "deeply annoyed" with his critics. (marginalrevolution.com)
Earlier on Abnormal Returns
- Startup links: beware flattery. (abnormalreturns.com)
- What you might have missed in our Monday linkfest. (abnormalreturns.com)
Mixed media
- The possibility of "insider trading" at daily fantasy sports sites is now an open issue. (nytimes.com)
- Why this issue is a big deal. (techinsider.io)
- An interview with the CEO of FanDuel. (fortune.com)
- FanDuel and DraftKings control 95% of the DFS market. (wsj.com)
- Why DraftKings and FanDuel should merge. (fortune.com)
