Product notes. Apple dropped the ball. The Amazon Echo, powered by Alexa, is how Siri should exist in the home. (M. G. Siegler)
Quote of the Day
"Diversification isn’t perfect. It doesn’t always work over the short-term and there’s always going to be something that you hate holding onto. But over longer time frames it remains one of the best forms of risk management that an investor can practice."
(Ben Carlson)
Chart of the Day

Emerging markets have underperformed US equities over the past five years.
Strategy
- Why you should diversify among different investment factors. (etf.com)
- Active management isn't the cure for bad behavior. (evidenceinvestor.co.uk)
Offers
- Sign up for Amazon Prime and get access to millions of streaming songs to boot. (amazon.com)
- Sign up for an Audible.com trial and get two free audio books including "When Breath Becomes Air." (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)
Companies
- What is the right way to measure operational success at Apple ($AAPL)? (asymco.com)
- Alphabet ($GOOGL) has a Nest problem. (businessinsider.com)
- How much should you trust financial reports? (blogs.wsj.com)
- People who use Airbnb are reluctant to go back to hotels. (bloomberg.com)
Finance
- Can't fly to Omaha this April for the Berkshire Hathaway ($BRKA) annual meeting? Yahoo Finance has you covered. (businessinsider.com)
- Why SumZero is a perfect spot for hedge funds just starting out. (bloomberg.com)
Funds
- Index funds and the behavior gap. (news.morningstar.com)
- US money market funds are reinstating fees. (next.ft.com)
Economy
- The JOLTS numbers are still pretty good. (bonddad.blogspot.com)
- Homebuilder sentiment is high but declining. (calculatedriskblog.com)
- Why the US would never go for negative interest rates. (markdow.tumblr.com)
- We are not seeing a rebound in real estate brokers. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Startup links: down rounds. (abnormalreturns.com)
- What you might have missed in our Monday linkfest. (abnormalreturns.com)