The Man Who Knew: The Life and Times of Alan Greenspan by Sebastian Mallaby is the 2016 winner of the Financial Times and McKinsey Business Book of the Year award. (FT)
Quote of the Day
"What’s clear is we’re in the middle of a revolution caused by indexing. It’s reshaping Wall Street, it’s reshaping the mutual fund industry. And it’s doing something very simple: shifting the allocation of stock market returns away from Wall Street and toward Main Street. We’re beyond the beginning, but nowhere near the end."
(Jack Bogle)
Markets
- Treasury bonds are wicked oversold. (bloomberg.com)
- These "Trump stocks" helped send the Dow over 19,000. (wsj.com)
- A strong market is one in which few stocks are making new lows. (traderfeed.blogspot.com)
Strategy
- Rising bond rates are not yet an issue for stock valuations. (brooklyninvestor.blogspot.com)
- On the relative importance of asset location vs. asset allocation. (awealthofcommonsense.com)
Offers
- You can still get a Kindle for just $49.99 today. (amazon.com)
- Sign up for an Audible.com trial and get two free books including "The Man Who Knew: The Life and Times of Alan Greenspan" by Sebastian Mallaby. (amazon.com)
- Tim Ferriss' "Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers" will be a big holiday book gift. (amazon.com)
Companies
Finance
- Wealth managers continue to attract outside capital. (investmentnews.com)
- Good news! Nontraded BDC sales are way down in 2016. (investmentnews.com)
Deals
- Sweet deals on Anker braided Apple USB connectors. (amazon.com)
- Bose stuff rarely goes on sale. However QuietComfort 20 noise cancelling headphones are $50 off. (amazon.com)
Funds
- Mutual fund holders should prepare for some big capital gain distributions this year. (investmentnews.com)
- Why Credit Suisse is closing VelocityShares 3x Long Crude Oil ETN ($UWTI) and the VelocityShares 3x Inverse Crude Oil ETN ($DWTI). (etf.com)
- Why Steve Cohen is dipping his toe in the passive investing waters. (bloomberg.com)
Global
Economy
- November US manufacturing data accelerated post-election. (businessinsider.com)
- M0 is contracting. (capitalspectator.com)
- Economists are bad communicators. (claudiasahm.postagon.com)
Earlier on Abnormal Returns
- Personal finance links: intelligent financial writing. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: low vol expectations. (abnormalreturns.com)
Mixed media
- How to talk to your kids about Thanksgiving. (npr.org)
- Don't play backyard football on Thanksgiving unless you want to get hurt. (fivethirtyeight.com)
- Umami is big reason why you like Thanksgiving dinner. (qz.com)
- The ultimate Thanksgiving dinner menu. (fivethirtyeight.com)
- How to be mindful at the Thanksgiving table. (nytimes.com)
- Family traditions boost happiness. (scientificamerican.com)
