Book list: The best non-fiction books of 2015 including Misbehaving: The Making of Behavioral Economics by Richard Thaler. (Marginal Revolution)
Quote of the Day
"Forecasting security prices is not properly a part of security analysis."
(Benjamin Graham)
Markets
- Comparing the move in the FANG stocks relative to the dotcom "Four Horsemen." (jlfmi.tumblr.com)
- Don't hate the game, hate the players. The case of $KBIO. (thereformedbroker.com)
Strategy
- Investment consultants are just as prone to herding as everyone else. (awealthofcommonsense.com)
- How the endowment effects affects portfolio managers and baseball GMs. (ft.com)
- What's better? Buying Berkshire Hathaway ($BRKB) stock or Buffett's stock picks? (mebfaber.com)
Offers
- In the WSJ Best Tech Gifts of 2015 the 7" Amazon Kindle Fire is a perfect "stocking stuffer." (qz.com)
- Through the weekend the Kindle Fire is now $34.99. Yes, a tablet for the price of a hardcover book. (amzn.to)
Companies
- Pfizer ($PFE) didn't need to buy Allergan ($AGN) to benefit from lower overseas taxes. (nytimes.com)
- Why Apple ($AAPL) should bid for NFL broadcast rights. (forbes.com)
Finance
- Robinhood is opening up $0 commission trading to a handful of stock apps. (techcrunch.com)
- Big banks are ceding SMB lending to the marketplace lenders. (wsj.com)
- Activist investors don't need to rattle every company's cage. (wsj.com)
Funds
- Hedge funds are digging through the bargain bin for highly discounted bond closed-end funds. (wsj.com)
- Capitalization-weighted indices underperform nearly every other weighting scheme. (evidenceinvestor.co.uk)
- Why pay active managers for factor tilts? (evidenceinvestor.co.uk)
Global
Economy
- Weekly initial unemployment claims continue to trend at historic lows. (calculatedriskblog.com)
- Why Americans are driving again. (vox.com)
- Chemical activity seems to have stabilized. (calculatedriskblog.com)
- The false promise of a rule-based Fed. (blogs.wsj.com)
Earlier on Abnormal Returns
- Podcast links: the future of food. (abnormalreturns.com)
- Longform links: software skills. (abnormalreturns.com)
- Essential Listening: concrete discussions. (blogs.cfainstitute.org)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- Need some holiday book ideas? Then check out this compilation of book-related links from the past month. (abnormalreturns.com)
- Raising your media IQ. My Q&A with Brett Steenbarger. (forbes.com)
