Book review: The Institutional ETF Toolbox: How Institutions Can Understand and Utilize the Fast-Growing World of ETFs by Eric Balchunas“offered a good survey of the relevant issues involving ETFs.” (Alpha Architect)
Quote of the Day
"We probably don't spend enough time being thankful for what an amazing time it is to be an individual investor. Everything from ETFs to content are free or nearly free, and high quality. It's incomparable to 20 years ago."
(Morgan Housel)
Markets
- March was a huge risk-on month. (capitalspectator.com)
- The S&P 500 did something quite extraordinary last quarter. (blogs.wsj.com)
- The S&P 500 is nearing last year's highs. (stockcharts.com)
- Dividend growth slowed in Q1. (crossingwallstreet.com)
- The Fed is underestimating the strength of the economy. (dashofinsight.com)
- The pain trade is higher. (joefahmy.com)
Strategy
- Investors in general have a hard time figuring out how much to pay for future earnings. (awealthofcommonsense.com)
- Just because someone has pedigree it doesn't mean they aren't crooks. (thereformedbroker.com)
Offers
- April 18th is rapidly approaching. Amazon still has TurboTax with a big discount. (amzn.to)
- Dying to watch "Billions" but you don't have Showtime? Sign up for a free-trial via Amazon and check it out. (amazon.com)
Companies
- Valeant ($VRX) is a real company sitting under a pile of debt. (nytimes.com)
- What is Apple ($AAPL) trying to achieve with the small screen iPhone SE? (aboveavalon.com)
- Bidders are coming out of the woodwork for Yahoo's ($YHOO) core business. (reuters.com)
- Most CEO-written shareholder letters are awful. (blogs.wsj.com)
Finance
- BATS Global Markets is coming public...again. (next.ft.com)
- Good luck if you aren't on Wall Street's preferred list of clients. (integrity-research.com)
- The challenge of valuing intangible assets. (wsj.com)
- Share buybacks are not as big a deal as people make them out to be. (blog.gavekalcapital.com)
Alternatives
- Why alternatives continue to take market share. (next.ft.com)
- Private equity LPs want more portfolio transparency. (ai-cio.com)
- Investors are swapping expensive hedge funds for other investments. (wsj.com)
Funds
- John Rekenthaler, "The market only needs one broad indexer." (news.morningstar.com)
- Five criteria to use to pick an ETF. (awealthofcommonsense.com)
- DFA's new ETFs haven't really taken off. (barrons.com)
- Does quality work as a stand alone factor? (news.morningstar.com)
- Blackrock ($BLK) is disrupting itself. (bloomberg.com)
- The downside of trend following ETFs. (fmdcapital.com)
Global
- Are European stocks cheap or US stocks expensive? (awealthofcommonsense.com)
- Is there something systematically wrong with European stocks? (fortunefinancialadvisors.com)
- The impact of free trade is greater than commonly thought. (timharford.com)
Economy
- New factory orders have turned the corner. (calculatedriskblog.com)
- Why manufacturing employment is actually shrinking. (csen.tumblr.com)
- A handful of signs that the economy is doing alright. (bonddad.blogspot.com)
- The chances of a recession are lower than the doomsayers say. (washingtonpost.com)
- Why Yellen is holding off on rate hikes. (economistsview.typepad.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- Saturday links: shaping your reality. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in March 2016. (abnormalreturns.com)
- Finance blogger wisdom: stuff flying under the radar. (abnormalreturns.com)
- Finance blogger wisdom: changed minds. (abnormalreturns.com)
