Book review: Garett Jones’ Hive Mind: How Your Nation’s IQ Matters So Much More Than Your Own is a “wonderful book.” (EconLog)
Quote of the Day
"Still, if this [Square] IPO proves anything, it's that valuing companies is hard...Pricing a private fundraising round is a mystery, but pricing a public offering is also a mystery."
(Matt Levine)
Markets
- The problem with flat 200 day moving averages. (allstarcharts.com)
- Eight charts that explain what is going on in the markets. (bloomberg.com)
- Five stocks hedge fund managers are buying. (charlessizemore.com)
Strategy
- The origins of the word risk. (thereformedbroker.com)
- Lessons learned from the Yale University endowment. (news.morningstar.com)
Offers
- Sign up for Audible.com and get two free books including "Foolproof: Why Safety Can Be Dangerous and How Danger Makes Us Safe." (amzn.to)
- Get Karma Go from @yourKarma. Take WiFi with you everywhere. Use my code for $10 off yours. (yourkarma.com)
Companies
Finance
- The private markets are working the way they are supposed to. (qz.com)
- Leveraged loan prices are in a free fall. (bloomberg.com)
- Even David Einhorn needs to check his assumptions. (valueandopportunity.com)
ETFs
- Who benefits from the boom in ETFs? (businessinsider.com)
- Pros and cons: ETF vs. a basket of individual stocks. (monevator.com)
- The ETF Deathwatch for November 2015. (investwithanedge.com)
- Vanguard isn't sold on junk bond ETFs. (reuters.com)
Economy
- How the Fed will raise rates. (blogs.wsj.com)
- The housing market has a supply problem. (fortune.com)
Earlier on Abnormal Returns
- Podcast links: concrete dreams. (abnormalreturns.com)
- My Q&A with Robin Powell of The Evidence-Based Investor. (evidenceinvestor.co.uk)
- What you may have missed in our Thursday linkfest. (abnormalreturns.com)
- We investors know using our phones is bad for us but we do it any way. (abnormalreturns.com)
