Book list: JP Morgan’s Holiday reading list including America’s Bank: The Epic Struggle to Create the Federal Reserve by Roger Lowenstein. (MoneyBeat)
Quote of the Day
"The problem with both medicine and investing is this: Advice that sounds basic but is important isn't as valued as complicated advice that may only be necessary if you ignored the basic advice to being with."
(Morgan Housel)
Strategy
- Directional calls are a waste of time for investors. (theirrelevantinvestor.wordpress.com)
- Five major challenges to hedge fund investing. (thereformedbroker.com)
Offers
- Sign up for Audible.com you can get two free books including "America’s Bank: The Epic Struggle to Create the Federal Reserve." (amazon.com)
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. Special Subscription Offer! (moderntrader.com)
- It's hard to imagine going through the holiday season without Amazon Prime. You can get a 30-day free trial here. (amazon.com)
Yahoo
- Advertisers don't think much of Yahoo ($YHOO). (nytimes.com)
- Yahoo ($YHOO) is still the third largest site in the US. (wsj.com)
Finance
- Sell-side bond traders are in retreat. (wsj.com)
- Now M&A is getting the technology treatment. (bloomberg.com)
Funds
- ETFs have drawbacks. Get over it. (alphabaskets.com)
- What do you get when you combine concentrated portfolios? (blog.abglobal.com)
- 10 questions (and answers) about ETFs. (alephblog.com)
- What makes for success in the alternative asset mutual fund game? (managed-futures-blog.attaincapital.com)
Global
Economy
- Weekly initial unemployment claims continue to indicate few layoffs. (calculatedriskblog.com)
- The services economy is still expanding in November. (calculatedriskblog.com)
- Demographics are only part of the housing equation. (ftalphaville.ft.com)
Earlier on Abnormal Returns
- Longform links: private equity purgatory. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- A new edition of Essential Listening is up with talks on risk, meditation and Steve Jobs. (blogs.cfainstitute.org)
- What books Abnormal Returns readers purchased in November. (abnormalreturns.com)
- Guest post: Josh Maher on what we can learn from the best startup investors. (abnormalreturns.com)
