Book list: Some criminally overlooked books on finance and economics including Fifty Years in Wall Street by Henry Clews. (Fortune Financial)
Quote of the Day
"Frankly we expect to see assets move from human managers to machine managers. We also expect to see assets moving from high fee managers to lower fee managers or lower fee vehicles. And in some cases, assets moving from vehicles with lots of liquidity to assets with less liquidity. But I do think, I think fundamentally, when you have an industry which has underperformed the market averages and charges 2 and 20, there is going to be a lot of fee pressure on a lot of managers."
(Tony James of the Blackstone Group)
Chart of the Day
Why we shouldn’t be surprised gold has rallied in the face of lower real yields.
Markets
- When did the bull market start? (priceactionlab.com)
- This is an 'indifferent' bull market. (bloomberg.com)
Strategy
- Why it is so hard for investors to change their fundamental investment strategies. (awealthofcommonsense.com)
- Is monitoring recession risk worth it? (capitalspectator.com)
- Long-term investing requires some discomfort. (mullooly.net)
Offers
- Subscribe to Modern Trader magazine and get 4 big bonus offers. (moderntrader.com)
- Try Audible.com and get two free books like "Originals" by Adam Grant. (amazon.com)
- Hey Trekkies! Sign up for Amazon Prime and get access to The Star Trek Collection on Amazon Instant Video. (amazon.com)
Companies
- What Ted Wechsler is doing at Berkshire Hathaway ($BRKA). (institutionalinvestor.com)
- Apple ($AAPL) and Formula One? (loopinsight.com)
Finance
Home wi-fi
- Eero is still the best mesh wi-fi solution for the home but it now has stiff competition. (wsj.com)
- Eero was built with a cloud-first approach. (readwrite.com)
- You can find the complete eero wi-fi system here: (amazon.com)
Funds
Economy
Earlier on Abnormal Returns
- Podcast links: the Internet ruined. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Our latest monthly book link round up from July. (abnormalreturns.com)
- My piece up at Enterprising Investor: "Academic finance as a check on pretensions." (blogs.cfainstitute.org)
- How a "vague sense of returns" works against you as an investor. (abnormalreturns.com)
