Book notes: Why Safety Can Be Dangerous and How Danger Makes Us Safe by Greg Ip is “an intriguing new book.” (Reading the Markets)
Quote of the Day
"The thing is that there are no simulations that can prepare you for the emotions you feel when investing actual money in the markets. The feelings you get from making or losing money can’t be simulated. "
(Ben Carlson)
Chart of the Day
Less than 10% of global stock indices are above their 200 day moving average.
Markets
- October asset class performance was dominated by equities. (capitalspectator.com)
- October's returns "came out of nowhere." (thereformedbroker.com)
- The decline in commodities stands out against other asset classes. (shortsideoflong.com)
Strategy
Offers
- Do you have the free Kindle reading app on your phone and laptop? You should. (amazon.com)
- Get Karma Go from @yourKarma. Take WiFi with you everywhere. Use this code for $10 off yours. (yourkarma.com)
Companies
- HP has split up. Meet HP Inc. ($HPQ) and HP Enterprise ($HPE). (wsj.com)
- Salesforce ($CRM) has been a powerhouse venture investor. (businessinsider.com)
- Charlie Munger is not done bashing Valeant Pharmaceuticals ($VRX). (bloomberg.com)
- Apple ($AAPL) continues to buy back shares hand over fist. (aboveavalon.com)
Finance
- Corporate bond markets are still wide open for issuers. (wsj.com)
- Goldman Sachs ($GS) wants to get deeper into lending to renewable energy. (blogs.wsj.com)
- Have the financial markets failed investors? (evidenceinvestor.co.uk)
Funds
- The November Mutual Fund Observer commentary is up with a look at the controversy surrounding the Sequoia Fund and Valeant ($VRX). (mutualfundobserver.com)
- High yield ETFs are for tactical exposure, not a strategic allocation. (ft.com)
- 5 interesting ETF stats from October. (bloomberg.com)
- Why you want your target-date fund to be average. (marketwatch.com)
Global
- The global economy is weak but not weakening any further. (blogs.ft.com)
- How some investors actually made money in emerging markets this year. (wsj.com)
Economics
- The October ISM manufacturing index was barely above 50.0. (calculatedriskblog.com)
- Hotels are on pace for their highest occupancy in 2015. (calculatedriskblog.com)
- Why are interest rates so persistently negative? (marginalrevolution.com)
Earlier on Abnormal Returns
- Research links: booms gone bad. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in October 2015. (abnormalreturns.com)
- What you may have missed in our Sunday linkfest. (abnormalreturns.com)
