Book review: Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley by Antonio Garcia Martinez is a “book about the human side of the Valley.” (TechCrunch)
Quote of the Day
"We live in an age of specialists, and in investments, this has taken the form of experts who operate in silos, option traders who act as if their derivative securities can exist without their underlying assets, fixed income investors who function as if bonds are the only game in town and equity investors who can only talk about stocks."
(Aswath Damodaran)
Yields
- Corporate bond spreads are at a year-long low. (bloomberg.com)
- Don't look now but commercial paper rates are trending higher. (wsj.com)
Markets
- This year's rally has been coincident with positive economic surprises. (bloomberg.com)
- 10 stocks the 'ultimate stock pickers' are newly buying. (beta.morningstar.com)
- Is the year-long biotech bear market over? (seeitmarket.com)
Strategy
- Over the short run luck can dominate. (tonyisola.com)
- The keys to taking advantage of factors. (blog.cordantwealth.com)
Warren Buffett
- Warren Buffett's name is often abused by scammers. (alephblog.com)
- Has Warren Buffett finally come over to the tech sector trend? (howardlindzon.com)
Offers
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. Special Subscription Offer! (moderntrader.com)
- Buy a book get one free: "Quantitative Value" and "DIY Financial Advisor" now for just $20. (blog.alphaarchitect.com)
Finance
- ValueAct thinks investors fundamentally misunderstand Morgan Stanley's ($MS) business. (fortune.com)
- Calpers is targeting 6.2% returns over the next decade. (bloomberg.com)
- Invesco's ($IVZ) ETF business is being overlooked. (wsj.com)
Back to school
- The Amazon Kindle and Paperwhite are currently $20 off. (amazon.com)
- Join Amazon Prime Student for FREE Two-Day Shipping for College Students. (amazon.com)
Economy
- Industrial production was up nicely in July. (calculatedriskblog.com)
- Subprime auto loans are not a bubble. (pragcap.com)
- Fixing America's roads is a no-brainer. (bloomberg.com)
Earlier on Abnormal Returns
- Our August round-up of all the book-related links from the past month. (abnormalreturns.com)
- Startup links: bigger winners. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Eliminating distractions and becoming a star in your field. (abnormalreturns.com)
- Paper trading is obsolete. (abnormalreturns.com)
