Book review: Tyler Cowen thinks Robert Gordon is “is probably right about the past, but wrong about the future” in his new book The Rise and Fall of American Growth. (Marginal Revolution)
Quote of the Day
"Portfolio insurance is not a good ongoing hedging strategy...It’s very expensive and rarely pays off economically. If investors are concerned about losing money on the market, they are better off de-risking."
(Brad Smith)
Markets
- Is the correction over? (dashofinsight.com)
- Welcome to the profits recession. (researchaffiliates.com)
- You've likely never heard of the best performing stock over the past 30 yars. (blogs.wsj.com)
- Utility stocks have been outperforming of late. (stockcharts.com)
Strategy
- Why Treasury bonds are the ultimate safe haven asset. (pragcap.com)
- How one portfolio manager got burned out and came back. (forbes.com)
- On the attraction of low-vol strategies. (sl-advisors.com)
- A review of some key checklist items. (valueinvestingworld.com)
Offers
- Sign up for an Audible.com free trial and get two audio books including "America’s Bank: The Epic Struggle to Create the Federal Reserve." (amazon.com)
- Amazon's $50 Fire tablet is now its best-selling and most gifted product. (amzn.to)
- Amazon series, like "Mozart in the Jungle," won more Golden Globes than Netflix. Check them all out with a 30-day Prime trial. (amazon.com)
Companies
- StubHub was a great deal for eBay ($EBAY). (forbes.com)
- Chipotle ($CMG) is a permanently changed company. (sumzero.com)
- Gilead ($GILD) is a poster child for the weakness in biotech. (ibankcoin.com)
- Bank stock are cheap but are they a buy? (climateerinvest.blogspot.com)
Apple
- The success of the iPhone 6 "ruined" Apple ($AAPL). (leancrew.com)
- Why Apple ($AAPL) is interested in virtual reality. (macworld.com)
- A worthwhile chartbook of Apple ($AAPL) trends. (sixcolors.com)
Finance
Funds
- Vanguard is essentially managing money for free for institutional investors. (pionline.com)
- Why do big fund managers oppose proxy access rules? (next.ft.com)
- The closed-end fund space needs to be "de-cluttered." (barrons.com)
Global
- Some high-profile names are betting on a big Yuan devaluation. (wsj.com)
- What negative interest rates mean for Japan. (blogs.wsj.com)
Economy
- The US is not in a recession. (econbrowser.com)
- The yield curve still says no recession. (scottgrannis.blogspot.com)
- What CEOs said about the economy this week on conference calls. (skrisiloff.tumblr.com)
- A succinct summary of the economic week that was. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you may have missed in our Saturday linkfest. (abnormalreturns.com)
