An interview with Tim Harford author of Messy: The Power of Disorder to Transform Our Lives. (Washington Post)
Quote of the Day
"But there is a blind spot for the market, and that’s in extreme events. The market (meaning people) are pretty good at setting odds for most things. But once you start getting to extremes, they’re not so good."
(Eddy Elfenbein)
Chart of the Day

Per McKinsey, Some 25% of actively managed assets in North America are at-risk of disintermediation.
Strategy
- There is a difference between a statistic and a fact. (collaborativefund.com)
- Three things you can say with confidence about the markets. (theirrelevantinvestor.com)
- Time to start thinking about tax loss selling. (jonathanclements.com)
EBI
- A tweet-based recap of the year's best investment conference. (bpsandpieces.com)
- Four big lessons from the first Evidence-Based Investing conference. (blog.thinknewfound.com)
Amazon Prime
- Amazon ($AMZN) Prime video is going worldwide. (thenextweb.com)
- Today only you can get a one-year subscription to Amazon Prime for just $79 ($20 off). (amazon.com)
Companies
- The stakes could not be higher for Eli Lilly's ($LLY) Alzheimer's drug Sola. (ft.com)
- Apple ($AAPL) still has an opportunity to be a video power. (loopinsight.com)
- DraftKings and FanDuel are (finally) merging. (venturebeat.com)
Finance
- The perils of publicly traded companies that are still family controlled. (aswathdamodaran.blogspot.com)
- Snap is unconventional including in its management style. (reuters.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)
Global
- Value in Europe has underperformed for a while now. (wsj.com)
- Great...another election we need to worry about. This time in Italy. (wsj.com)
Economy
Earlier on Abnormal Returns
- Podcast links: podcasting pros. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: covering liabilities. (abnormalreturns.com)
- Book round-up: November 2016. (abnormalreturns.com)