Book review: Money Changes Everything: How Finance Made Civilization Possible by William Goetzmann is “rigorously researched and extremely enjoyable to read..” (Enterprising Investor)
Quote of the Day
"I don't believe that the hedge fund industry will go away, but in order for the very best managers to shine again in a reliable fashion, it probably needs to shrink. The good news is that this process is already underway. The bad news is that it doesn't look pretty or feel good while in progress."
(Joshua Brown)
Strategy
- Why risk parity should continue to work. (bloomberg.com)
- Why you shouldn't invest like Yale or Harvard. (bloomberg.com)
- Six principles money managers should follow to keep clients happy. (institutionalinvestor.com)
- True diversifiers are hard to find. (longboardfunds.com)
Offers
- You can now pre-order Tim Harford's highly anticipated "Messy: The Power of Disorder to Transform Our Lives." (amazon.com)
- Try Audible.com and get two free audiobooks including the new memoir by Bruce Springsteen, "Born to Run." (amazon.com)
- Alexa is in the lead in "voice computing." You can get the Amazon Dot and Echo here: (amazon.com)
Companies
- Amazon ($AMZN) continues to push FedEx ($FDX) and UPS ($UPS) aside. (wsj.com)
- Can Costco ($COST) co-exist with Amazon ($AMZN) Prime? (wsj.com)
- The parallels between Deutsche Bank and Twitter ($TWTR). (ft.com)
Fintech
- Online broker Robinhood rolls out new tools. (businessinsider.com)
- Ten ways to use StockTwits. (fmdcapital.com)
Funds
- Do you own a Deutsche Bank-issued ETN? (investwithanedge.com)
- There will soon be enough muni bond ETFs to build a bond ladder. (blogs.barrons.com)
- The number of ETFs of CEFs is growing. (etf.com)
Economy
- Weekly initial unemployment claims have spent 82 weeks below 300,000. (calculatedriskblog.com)
- Positive demographics: why single-family home starts should continue to increase. (calculatedriskblog.com)
- Chill out. Stop worrying about the election so much. (marginalrevolution.com)
- Suburbanization continues because people want it. (bloomberg.com)
Earlier on Abnormal Returns
- Longform links: mass market machine learning. (abnormalreturns.com)
- I talk about the forthcoming Evidence-Based Investor conference. (evidenceinvestor.co.uk)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
