Book notes: Decluttering will save you time over the long run. Insights from Marie Kondo’s Spark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up. (Washington Post)
Quote of the Day
"Fundamental analysis is very difficult in the stock and bond markets. In commodities it’s damn near impossible."
(Ben Carlson)
Chart of the Day

The S&P Biotechnology Select Industry Index (XBI) just experienced its worst drawdown ever.
Strategy
- There is no single, perfect valuation indicator. (news.morningstar.com)
- Josh Brown, "Sometimes it’s hard to figure out who is more mentally ill: the guy taking Twitter victory laps for virtual trades, or the guy who retweets him." (thereformedbroker.com)
Offers
- Sign up for a 30-day trial from Amazon Prime and get access to a huge video library and much, much more. (amazon.com)
- Take WiFi with you everywhere with Karma Go. Use my code for $10 off yours now! (yourkarma.com)
- Get an Audible.com free trial and listen to two books for free includingSpark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up."* (amazon.com)
- Sign up for our daily e-mail newsletter to stay up-to-date with all of our posts. (abnormalreturns.com)
Companies
- There is a gap between Apple the company and $AAPL the stock. (aboveavalon.com)
- Can machine learning be applied to M&A? (ft.com)
Finance
- Credit downgrades are ramping up. (blogs.wsj.com)
- Fintech startups don't have much faith in FICO scores. (wsj.com)
- Some tech companies that might go public in 2016. (bloomberg.com)
Funds
- Six ETF trends to pay attention to. (etf.com)
- Commodity funds have been a disappointment for investors. (wsj.com)
Economy
- How much will the economy grow in 2016? And more questions for the year. (calculatedriskblog.com)
- Small businesses are ramping up their hiring plans. (calculatedriskblog.com)
- The farm boom is played out. (bloomberg.com)
Earlier on Abnormal Returns
- Startup links: VC platforms. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
- Personal finance sophistication. Insights from Pollack and Olen's "The Index Card: Why Personal Finance Doesn't Have to be Complicated."* (abnormalreturns.com)