An excerpt from Michael Lewis’ forthcoming book, The Undoing Project: A Friendship That Changed Our Minds, on the partnership between Kahneman and Tversky. (Vanity Fair)
Quote of the Day
"I would not invest in the fund of a portfolio manager who was afraid to waffle. Better to equivocate, when required, than to show conviction when it is not warranted."
(John Rekenthaler)
Markets
- Inflation expectations are on the rise. (ftalphaville.ft.com)
- The US dollar hasn't been this strong since 2003. (markets.businessinsider.com)
Offers
- The Beats Solo 3 Wireless would be a great holiday gift. (amazon.com)
- In light of the election you should try Audible.com and get two free audiobooks including J.D. Vance's celebrated book "Hillbilly Elegy: A Memoir of Family and Culture in Crisis." (amazon.com)
- "Atlas Obscura: An Explorer's Guide to the World's Hidden Wonders" looks like a great holiday gift. (amazon.com)
Snap
- Snap, nee SnapChat, is coming public. (wsj.com)
- Why Snap going public is a good thing. (avc.com)
- No it's not. (dealbreaker.com)
Finance
- On the bifurcation of hedge fund investment models. (nytimes.com)
- You can now trade with all the major brokers directly from the StockTwits app. (medium.com)
- What it's like to be an investment banker far way from Wall Street. (theatlantic.com)
Funds
- Highlights from the inaugural Evidence-Based Investing conference. (thereformedbroker.com)
- The active management industry is too darn big. (bloomberg.com)
Economy
- Homebuilder confidence is still solid. (calculatedriskblog.com)
- Politics and economic analysis don't mix. (capitalspectator.com)
- It's hard to find signs of economic weakness. (calculatedriskblog.com)
- Why a high likelihood of a December Fed rate hike makes sense. (economistsview.typepad.com)
- Labor shortages are driving the rise of prefab home construction. (wsj.com)
Earlier on Abnormal Returns
- Book round-up: November 2016. (abnormalreturns.com)
- Personal finance links: horrible products. (abnormalreturns.com)
- Research links: factor diversification. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: tax efficiency. (abnormalreturns.com)
