Book notes: DIY Financial Advisor: A Solution to Build and Protect Your Wealth by Gray, Vogel and Foulke is recommended reading for anyone considering firing their financial advisor. (Charles Sizemore)
Quote of the Day
"There are probably about 5,000 people who know how the trading system works but none of them will speak about the way these high-frequency firms make money..."
(An anonymous financial industry insider)
Chart of the Day

In case you need more evidence that Wall Street forecasts are easily forgettable.
Markets
- Last week's "breadth thrust" was positive for the market. (quantifiableedges.com)
- The equity risk premium is higher than you think. (blogs.piie.com)
- Corporate bond yields need not stay positive. (ftalphaville.ft.com)
Offers
- Amazon Prime is also allows for the streaming of millions of songs. Start a free-trial now! (amazon.com)
- Sign up for a 30-day trial of Audible.com and get two free books including "The Term Sheet: A Startup Thriller Novel." (amazon.com)
Companies
- Apple's ($AAPL) narrative is broken. (aboveavalon.com)
- More people are coming around to the idea of downplaying quarterly earnings reports. (nytimes.com)
Offers
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. This special subscription offer includes free investment classic book! (moderntrader.com)
- With a 30 day trial of Kindle Unlimited you can read books for free including Jesse Warren Teveow's new book "The Connection Algorithm: Take Risks, Defy the Status Quo, and Live Your Passions." (amazon.com)
Finance
- Why hedge funds are hiring poker pros. (thealphapages.com)
- Just how worried should we be about bond market illiquidity? (thinkadvisor.com)
- Dark pools quietly catered to high frequency traders. (wsj.com)
Funds
- The Mutual Fund Observer commentary is a must read every month including February's edition. (mutualfundobserver.com)
- ETF trading in Japan is taking off. (next.ft.com)
Global
Economy
- Is the rest of the world (China) going to drag the US into recession? (qz.com)
- Economic weakness is centered on the energy and basic materials sectors. (disciplinedinvesting.blogspot.com)
- Inventories have stopped going down. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Startup links: incubator hopping. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in January 2016. (abnormalreturns.com)