Book review: Common Stocks and Common Sense: The Strategies, Analyses, Decisions, and Emotions of a Particularly Successful Value Investor by Edgar Wachenheim III “is a delightful book.” (Reading the Markets)
Quote of the Day
"True professionals aren’t mercenaries, collecting their pay and fighting the game as it’s played without question. On the contrary, they work on behalf of their clients and try to look beyond themselves and their self-interest to make things better."
(Tom Brakke)
Markets
- This hedge fund got Brexit right. (bloomberg.com)
- London just lost the battle to New York to be the financial center of the world. (bloomberg.com)
Strategy
- Diversifying among strategies is as important as asset classes. (theirrelevantinvestor.com)
- Recovering from being an 'alpha junkie.' (pragcap.com)
Offers
- Modern Trader magazine hits its stride with the latest issue on managed futures. (moderntrader.com)
- Still haven't caught up with "Billions" or "Roadies" on Showtime. Start a free-trial now! (amazon.com)
- Sign up for Audible.com and get two free books including Jonah Berger's Invisible Influence: The Hidden Forces That Shape Behavior Audible." (amazon.com)
Companies
- Will Berkshire Hathaway ($BRKA) eventually get broken up by activists? (awealthofcommonsense.com)
- Alexa kicks Siri's *ss. (medium.com)
- How Apple ($AAPL) hopes to build a post-iPhone ecosystem. (aboveavalon.com)
Finance
- The myth of the IPO window. (techcrunch.com)
- Pension funds are giving up on hedge funds. (etf.com)
- Goldman Sachs ($GS) is casting a wider net for college grads. (wsj.com)
Funds
The Amazon Echo
- The Amazon ($AMZN) Echo is officially a thing. (kottke.org)
- How Echo works. (wired.com)
- You can get an Echo here: (amazon.com)
Brexit
- Brexit has screwed us all. (fusion.net)
- Brexit proves that the experts know nothing. (bloomberg.com)
- Britain will suffer outside the EU. (ft.com)
- Brexit will take awhile. (alephblog.com)
- Brexit has induced a huge amount of uncertainty into the economy and market. (theatlantic.com)
- The EU can't proceed as it has before. (bloomberg.com)
- Brexit: winners and losers. (marginalrevolution.com)
Earlier on Abnormal Returns
- Podcast links: master procrastinators. (abnormalreturns.com)
- Thursday links: stacking posts. (abnormalreturns.com)
- Managed futures 101: the quest for crisis alpha. (abnormalreturns.com)
- Longform links: giving yourself a break. (abnormalreturns.com)
- A Q&A with Tobias Carlisle about his new book " Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors." (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Our Q&A with Jack Schwager author of "Market Wizards" books and co-founder of FundSeeder. (abnormalreturns.com)
- Our book link round-up for June is up. (abnormalreturns.com)
