Book notes: Insights from Sydney Finkelstein’s Superbosses: How Exceptional Leaders Manage the Flow of Talent. (HBR)
Quote of the Day
"But the biggest investment fees are intangible. They're the ones you pay through anxiety and uncertainty. An iron rule of life is that if you want something nice, you have to pay for it."
(Morgan Housel)
Chart of the Day

High quality stocks have been outperforming of late.
Markets
- Just what are the market's biggest worries? (dashofinsight.com)
- Are tech stocks cheap? (bloomberg.com)
- Just how bad junk market performance has been. (next.ft.com)
Strategy
- Chasing performance in smart beta is still dumb. (wsj.com)
- On the differences between pattern recognition and pattern matching. (dynamichedge.com)
- Why knowing a single asset price twenty years hence isn't all that valuable. (bloombergview.com)
- You have to learn the lingo of Wall Street before you can ignore it. (stockcharts.com)
100% Stocks
- Why you should have 100% of your long term investments in equities. (nytimes.com)
- Why you shouldn't. (thereformedbroker.com)
Offers
- Sign up for Amazon Prime and get a streaming music service as well. (amazon.com)
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. This special subscription offer includes free classic investment book! (moderntrader.com)
- Sign up for an Audible.com trial and get two free books including "When Breath Becomes Air." (amazon.com)
Companies
- The Twitter ($TWTR) vs. Facebook ($FB) comparison isn't all one-sided. (bloomberg.com)
- Why institutional investors avoid MLPs. (sl-advisors.com)
- Unfortunately more dividend cuts are coming. (nytimes.com)
Finance
- Why is AIG ($AIG) selling out of hedge funds now of all times? (bloomberg.com)
- Trading jobs are going away on Wall Street. (businessinsider.com)
Funds
- Why fund managers are still wary of social media. (next.ft.com)
- Are buyback ETFs worth the bother? (barrons.com)
Global
Economy
- If we have a recession it will be a risk-based recession. (marginalrevolution.com)
- What the term premium saying about the risk of recession this year. (econbrowser.com)
- Hotels are off to a solid year. (calculatedriskblog.com)
- What CEOs said about the economy this week. (skrisiloff.tumblr.com)
- A succinct summary of the week's economic events. (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)