Book excerpt: Richard McManus’ science fiction novel Presence explores a future world awash in VR. (TechCrunch)
Quote of the Day
"Be highly skeptical of one-off products that promise both higher returns and lower risks. There are almost always expensive tricks and traps lurking in the fine print."
(Chas Boinske)
Strategy
- Does your manager eat his own cooking? (mebfaber.com)
- True diversifiers eliminate the need for market timing. (longboardfunds.com)
Value investing
- 10 reasons you likely are not a value investor. (latticework.com)
- Why does value investing work? (acquirersmultiple.com)
Offers
- If you've read "Thinking Fast and Slow" you will likely want to read Michael Lewis' forthcoming "The Undoing Project: A Friendship That Changed Our Minds." (amazon.com)
- Buy the all new Amazon Fire TV stick and get $65 in content free. (amazon.com)
- Try Audible.com and get two free audiobooks including the new memoir by Bruce Springsteen, "Born to Run." (amazon.com)
- The Amazon Tap portable Alexa-powered speaker is currently $30 off. (amazon.com)
Companies
- Google ($GOOGL) is trying to come to terms with an "assistant-centric world." (stratechery.com)
- Acquisition was always Plan B for Twitter ($TWTR). (vanityfair.com)
- One year the Jack Dorsey era at Twitter ($TWTR) has been a disappointment, takeover talk aside. (wired.com)
Finance
- What it's like to leave Goldman Sachs ($GS). (news.efinancialcareers.com)
- Diversity as an activist investor strategy. (nytimes.com)
ETFs
- Blackrock ($BLK) is cutting fees even further on a dozen ETFs. (wsj.com)
- There is now a smart beta REIT ETF. (blogs.barrons.com)
Funds
- The case for indexing in less-efficient markets. (beta.morningstar.com)
- Hedge funds need to articulate their ability above and beyond multi-factor funds. (abovethelaw.com)
- Here is a way to boost yield: lower fund fees. (blogs.barrons.com)
Prime Reading
- Amazon has launched Prime Reading with access to magazines and books. (thenextweb.com)
- You can sign up for a free 30-day trial to Amazon Prime here: (amazon.com)
Economy
- Why has the term premium plunged? (capitalspectator.com)
- ADP showed a 154,000 rise in private employment in September. (calculatedriskblog.com)
- Economic expansions keep getting longer. (pragcap.com)
Earlier on Abnormal Returns
- Personal finance links: legislating morality. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- What books Abnormal Returns purchased in September 2016. (abnormalreturns.com)
Mixed media
- Seth Godin, "You can't do both. Either you dazzle with as much hype as you can get away with, or you invest in delighting people, regardless of how difficult it is." (sethgodin.typepad.com)
- The point of life is not to be happy, it is to be useful. (medium.com)
- What you read, changes your brain. (medium.com)
