Book list: Some books for geeks this Summer including Joseph Mazur’s Fluke: The Math & Myth of Coincidence. (WSJ)
Quote of the Day
"There is an enormous degree of serendipity and good fortune that goes into a blockbuster movie. The same seems to be true of just about everything in life, from marriage to careers to stock portfolios."
(Barry Ritholtz)
Markets
- Market timers are fleeing the stock market. (marketwatch.com)
- The longest downtrend in crude oil history is over. (hvst.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" by Charles Duhigg for free. (amazon.com)
- The ultra-cheap tablet, the 6" Amazon Fire, is now $10 off. (amazon.com)
- You can now get $15 off the Amazon Fire streaming video device. (amazon.com)
Companies
- Apple ($AAPL) really wants the iPad to be a business-ready machine. (next.ft.com)
- Why Amazon ($AMZN) bought a stake in Atlas Air Worldwide ($AAWW). (bloomberg.com)
- Is there an upper limit on how much time people will spend on Facebook ($FB)? (nytimes.com)
- Is Yahoo ($YHOO) set to become a patent troll? (backchannel.com)
Finance
IPOs
- No wonder tech IPOs are in short supply. The prior class of IPOs was a hot mess. (etf.com)
- Why Chinese companies are so hot to do reverse takeovers to go public. (reuters.com)
Hedge funds
- A reasonable take on the future of the hedge fund industry. (awealthofcommonsense.com)
- Hedge funds have not delivered on their promise. (economist.com)
- MetLife ($MET) is kicking hedge funds to the curb. (next.ft.com)
Funds
- The right reason to buy a low-vol fund. (blogs.wsj.com)
- Why indexing will prevail over all the flavors of smart beta per John Bogle. (capitalspectator.com)
Economy
- The unemployment rate stayed at 5.0% in the April NFP report. (calculatedriskblog.com)
- The April jobs report in 9 graphs. (blogs.wsj.com)
- The bond market has little reason to fear from this report. (crossingwallstreet.com)
- Why you can discount any single NFP report. (dashofinsight.com)
Earlier on Abnormal Returns
- Podcast links: better horse betting. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- What books Abnormal Returns readers purchased in April 2016. (abnormalreturns.com)