Book list: Understanding Fed speak including Robert Gordon’s The Rise and Fall of American Growth. (Bloomberg)
Quote of the Day
"Sophisticated minds are often drawn to unsolvable puzzles. Organizations that pride themselves on intellectual capital can be easily tempted into overly complicated investments when a tantalizing riddle presents itself."
(Josh Brown)
Markets
- The $VIX and high yield bond spreads are out of whack. (blog.gavekalcapital.com)
- New highs don't imply a decline for the rest of the year. (disciplinedinvesting.blogspot.com)
- It's been awhile since emerging markets outperformed on a sustained basis. (capitalspectator.com)
Strategy
- What it means to be process-oriented. (awealthofcommonsense.com)
- Point72 has its own psychologist, Dr. Gio, on staff. (institutionalinvestor.com)
Offers
- Buy a book get one free: "Quantitative Value" and "DIY Financial Advisor" now for just $20. (blog.alphaarchitect.com)
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. Special Subscription Offer! (moderntrader.com)
- Pre-order Ryan Avent's new book "The Wealth of Humans: Work, Power, and Status in the Twenty-first Century." (amazon.com)
Companies
- How Apple ($AAPL) went wrong with Apple Music and the Apple Watch. (aboveavalon.com)
- Does the world need another virtual wallet, this time from CVS ($CVS)? (businessinsider.com)
Private equity
- PE investors are sitting with cash picking through the distressed oil patch. (bloomberg.com)
- PE loves tech. (bloomberg.com)
- LPs are not fooled by inflated PE valuations. (ai-cio.com)
Funds
- Fidelity has its own take on non-transparent active ETFs. (etf.com)
- There are a number of ways that funds can goose returns. (bpsandpieces.com)
Economy
- Retail sales were flat in July. (calculatedriskblog.com)
- Three insights about jobs in the new global economy. (sethgodin.typepad.com)
Earlier on Abnormal Returns
- Podcast links: changing technologies. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Three proven steps to 'instant alpha.' (abnormalreturns.com)
