Book notes: 5 maps from Connectography: Mapping the Future of Global Civilization by Parag Khanna. (Business Insider)
Quote of the Day
"Supposedly sophisticated people, generally richer people, hire consultants. And no consultant in the world is going to tell you, ‘Just buy an S&P index fund and sit for the next 50 years...You don’t get to be a consultant that way, and you certainly don’t get an annual fee that way."
(Warren Buffett)
Markets
- "Sell in May" is harder than it looks in practice. (stockcharts.com)
- You don't have to be married to CAPE to take advantage of relative valuations. (mebfaber.com)
Strategy
- Lower yields make finding incremental gains in yield all the more important. (wsj.com)
- The ultimate challenge in portfolio optimization: bad in puts. (thepfengineer.com)
- Why does Bill Ackman have to make every stock pick so darn hard? (upsidetrader.com)
Offers
- Subscribe to Modern Trader and one free month, the MT app and access to all past issues. (moderntrader.com)
- Sign up for Audible.com and get "Smarter Faster Better: The Secrets of Being Productive in Life and Business" for free. (amazon.com)
Berkshire Hathaway
- 13 highlights from the 2016 Berkshire Hathaway ($BRKA) annual shareholders meeting. (finance.yahoo.com)
- A recap of the 2016 Berkshire Hathaway ($BRKA) annual shareholders meeting. (blogs.wsj.com)
Companies
- China is no longer a tailwind for Apple ($AAPL). (bloomberg.com)
- Mark Zuckerberg has no plans to give up control of Facebook ($FB). (fusion.net)
Finance
- Michael Milken still casts a long shadow over the LA finance scene. (latimes.com)
- An activist is looking for change at investment banking boutique FBR & Co. ($FBRC). (nytimes.com)
Funds
Discounts
- You can now get $15 off the Amazon Fire streaming video device. (amazon.com)
- The ultra-cheap tablet, the 6" Amazon Fire, is now $10 off. (amazon.com)
Global
- The risks of a global recession have faded. (blogs.ft.com)
- What kinds of things can set off a global recession? (nytimes.com)
Economy
- Americans are spending less on energy than they ever have. (calculatedriskblog.com)
- What CEOs had to say about the economy this week including thoughts on China. (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 missed in our Saturday linkfest. (abnormalreturns.com)
