Book review: Trend Following with Managed Futures: The Search for Crisis Alpha by Alex Greyserman and Kathryn Kaminski raises “the standard for discussion concerning trend following.” (Enterprising Investor)
Quote of the Day
"The lesson of past cycles is that changes of sentiment occur with bewildering speed, too quickly for the most exposed to adjust. Those swimming naked have little time to reach shore."
(John Gapper)
Chart of the Day
No matter how you slice it the decline in initial jobless claims is stunning.
Strategy
- Why the Japanese Yen is headed lower. (athrasher.com)
- Why you should trade sector ETFs instead of individual stocks. (blog.thinknewfound.com)
- Liquid alts are marginally better than their hedge fund brethren. (ft.com)
Private equity
- Who are better buyers: private equity or strategic buyers/ (ftalphaville.ft.com)
- Be careful when analyzing private equity returns. (awealthofcommonsense.com)
Offers
- Sign up for a free trial from Audible.com and get two free audiobooks like "Misbehaving: The Making of Behavioral Economics." (amazon.com)
- 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)
Finance
- The logical end of publicly traded private equity firms is them going private at some point. (nytimes.com)
- Carl Icahn is right. Break up AIG ($AIG). (alephblog.com)
Real estate
- London's real estate market is the most overheated. (ftalphaville.ft.com)
- The starter apartment is extinct in San Francisco and New York. (bloomberg.com)
Economy
- Weekly initial unemployment claims are at multi-decade lows. (calculatedriskblog.com)
- The US economy grew at a 1.5% rate in Q3. (blogs.wsj.com)
- A December rate hike is still on the table. (economistsview.typepad.com)
- The Fed is doing a decent job navigating the global economy. (pragcap.com)
- What changed in the October FOMC statement. (alephblog.com)
Earlier on Abnormal Returns
- A "Superforecasting: The Art and Science of Prediction." linkfest. (abnormalreturns.com)
- Longform links: brain drains. (abnormalreturns.com)
- Strategic apathy and the mediocre investor. (abnormalreturns.com)
- My latest edition of "Essential Listening" up at the Enterprising Investor blog with a look at Yahoo ($YHOO) management and the post-smartphone era. (blogs.cfainstitute.org)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- A round-up of all our book-related posts over the past month. (abnormalreturns.com)
