Book list: Six books Richard Thaler recommends including the forthcoming Pre-Suasion: A Revolutionary Way to Influence and Persuade by Robert Cialdini. (Marketwatch)
Quote of the Day
"(I)f you believe in factors enough that you are willing to move away from the simple, cheap, market portfolio, don’t do it via tilt. Do it in a way that gains true exposure to factors."
(Patrick O'Shaughnessy)
Chart of the Day
What Blackrock’s ($BLK) earnings tell us about the global investing environment.
Strategy
- Economic-sensitive sectors are out of favor. (dashofinsight.com)
- Paul Smith, "Active managers need to reinvent themselves." (institutionalinvestor.com)
Offers
- Subscribe to Modern Trader magazine and get 4 bonus offers. (moderntrader.com)
- Sign up for a free trial to Amazon Prime and get a host of benefits including streaming music. (amazon.com)
- Try Audible.com and get two free books like "Smarter Faster Better" by Charles Duhigg. (amazon.com)
Companies
Finance
- Fund managers like AllianceBernstein ($AB) are building their own trading platforms. (businessinsider.com)
- Startup OpenDoor looks to make Treasury trading easier. (next.ft.com)
- Robo-advisor Betterment crosses $5 billion in AUM. (bloomberg.com)
Hedge funds
- Hedge funds suffer from groupthink. (businessinsider.com)
- One trait all successful hedge fund managers share. (finance.yahoo.com)
- Ivy League graduates dominate the list of top hedge fund managers. (institutionalinvestor.com)
- Hedge fund investors are quick to dump underperformers. (ritholtz.com)
Funds
- Jeffrey Gundlach's DoubleLine Total Return Bond Fund is having a rough 2016. (fortune.com)
- Not every good idea belongs in an ETF. (etf.com)
- Look under the hood of you fund. Don't rely on the label. (vanguardblog.com)
Economy
- Weekly initial unemployment claims continue to stay well below 300k. (calculatedriskblog.com)
- It seems like we need much faster house price growth to spur new construction. (bloomberg.com)
Earlier on Abnormal Returns
- Longform links: stupid procedures. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Q&A with Spencer Jakab author of "Heads I Win, Tails I Win." (abnormalreturns.com)
- The cost matters consensus. (abnormalreturns.com)
- It's hard enough finding a factor that works. Why would you try and time it? (abnormalreturns.com)
- The big mid-summer Abnormal Returns book giveaway is now live. Enter now! (abnormalreturns.com)
