Book recommendation: A lot of analysts really like Jeff Gramm’s Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism. (@ManualofIdeas)
Quote of the Day
"Markets look phenomenal and rewarding when you zoom out, because they are. But people don't live zoomed out. They live day to day, month to month, brokerage statement to brokerage statement, where even the best of times come with the constant sting of reminding you that markets owe you nothing without requiring patience and endurance in return."
(Morgan Housel)
Markets
- The bullish case for housing. (dashofinsight.com)
- Times when it doesn't make sense to chase the stock market. (michaelmelissinos.com)
- Muni bond yields continue to fall. (blogs.barrons.com)
Strategy
- What is risk? (alephblog.com)
- Small cap stocks are as cheap as they have been relative to large caps since the financial crisis. (factorinvestor.com)
- Why it's important that you are able to say "I don't know." (pensionpartners.com)
Offers
- Subscribe today to Modern Trader and get four bonus offers including an extra month free. (moderntrader.com)
- Sign up for a free-trial to Showtime and catch up with the hit show "Billions." (amazon.com)
Companies
- Goldman Sachs ($GS) has become a huge player in the natural gas market. (next.ft.com)
- Alleghany ($Y) continues to grow book value over time. (barrons.com)
Finance
- Why it's time for an investor 'bill of rights.' (wsj.com)
- Subscribers (and viewers) seem to be getting tired of Jim Cramer's shtick. (stocktranscript.com)
- How Millennials invest. (next.ft.com)
Funds
Brexit
- Why are money managers bankrolling the Yes vote for Brexit? (next.ft.com)
- How Brexit talk is affecting the UK economy. (blogs.ft.com)
- Why Brexit would be a huge mistake. (marginalrevolution.com)
Economy
- What companies had to say about the economy this week. (avondaleam.com)
- A succinct summary of the week's economic events. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
- America needs more companies like Tesla ($TSLA). (vox.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
