Book list: Books that Marc Andreessen recommends including The Song Machine: Inside the Hit Factory by John Seabrook. (Quartz)
Quote of the Day
"The truth is you can build a startup in almost any city in the US today. But it is harder. Harder to build the team. Harder to get customers. Harder to get attention. And harder to raise capital. Which is a huge opportunity for VCs who are willing to get on planes or cars and get to these places."
(Fred Wilson)
Chart of the Day
Crazy high valuations aside the performance of consumer staple stocks has been incredible. (via @JonMarkman)
Markets
- Last week was a big week for the capital markets. (capitalspectator.com)
- Money is gushing into muni bonds. (wsj.com)
- Speaking of incremental yield corporate bonds are also hot. (bloomberg.com)
- Commodities are no longer falling. (next.ft.com)
Strategy
- Low vol funds are not necessarily low risk. (wsj.com)
- Stop trying to pick stocks and start focusing on businesses. (joshuakennon.com)
- There's nothing easy about investing in biotechs. (ibankcoin.com)
- What does the typical drawdown in managed futures look like? (managed-futures-blog.attaincapital.com)
Offers
- Who doesn't like to laugh? Then sign up for a free trial to SEESO 'where the best comedy lives.' (amazon.com)
- Angela Duckworth's "Grit: The Power of Passion and Perseverance" for free. (amazon.com)
- Sonos speakers don't often go on sale. Now they are: (amazon.com)
Companies
Finance
- Who wins? Carlyle Group ($CG) shareholders vs. its fund investors. (washingtonpost.com)
- The SEC may finally put the brakes on leveraged ETFs. (wsj.com)
Hedge funds
- Goldman Sachs ($GS) just offloaded some funds to AMG ($AMG). (blogs.barrons.com)
- Can CargoMetrics manage money based on data from global shipping? (next.ft.com)
- Quantopian is going to open up to institutional investors. (ft.com)
Funds
- Can non-transparent ETFs save the legacy fund managers? (businessinsider.com)
- A closer look T. Rowe Price's ($TROW) push into quant funds. (news.morningstar.com)
- Don't underestimate the heft of the mutual fund industry. (fmdcapital.com)
Global
Economy
- Why housing will "eat the economy." (csen.tumblr.com)
- The odds of a July rate hike have fallen. (crossingwallstreet.com)
- Peer-reviewed economics papers are increasingly have multiple co-authors and are becoming more gender equal. (voxeu.org)
Earlier on Abnormal Returns
- Research links: disappointing diversification. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- There's just 4 days left to order a limited edition Abnormal Returns t-shirt and provide $10 to charity. (abnormalreturns.com)
- There's a bunch of ways to support Abnormal Returns. Check out these affiliate offers. (abnormalreturns.com)
Mixed media
