Book list: What econo-finance Twitter was reading this year including Ryan Avent’s The Wealth of Humans. (Financeblah)
Quote of the Day
"Active fund managers should not despair at the idea that the buying power of ETFs may be destroying their ability to pick between stocks. Instead their struggling profession should view the rapidly changing structure of financial markets as an opportunity."
(Miles Johnson)
Markets
- These factors have run higher post-Trump. (thereformedbroker.com)
- A look back twenty years after Greenspan's 'Irrational Exuberance' speech. (crossingwallstreet.com)
- A look at the returns on intermediate-term munis. (blog.abglobal.com)
Strategy
- The investing world is rife with overconfidence. (medium.com)
- Don't invest in a great fund if you don't understand it. (awealthofcommonsense.com)
- Successful investing means "managing our habits." (etf.com)
Companies
- US companies have been extending the maturity of their debt. (ft.com)
- If US companies experience a overseas 'tax holiday' expect a surge of share buybacks. (ft.com)
- Why Facebook ($FB) will do just enough to fix its fake news problem. (mondaynote.com)
The Undoing Project
- How Michael Lewis became interested in Kahneman and Tversky. (nytimes.com)
- Jennifer Senior, "In “The Undoing Project,” Mr. Lewis has found the granddaddy of all stories about counterintuition..." (nytimes.com)
- Get Michael Lewis' "The Undoing Project: A Friendship That Changed Our Minds" at Amazon. (amazon.com)
Groceries
- Amazon ($AMZN) has developed a checkout-free grocery store. (theverge.com)
- Wal-Mart's ($WMT) new grocery store concept takes Kroger ($KR) on directly. (businessinsider.com)
Finance
- The sell-side is trying to get creative, language-wise. (bloomberg.com)
- REITs have had a tough start as a separate S&P sector. (wsj.com)
Funds
- Should mutual funds be allowed to invest in non-public shares? (beta.morningstar.com)
- The bond market pullback illustrated: Doubleline experienced outflows. (blogs.barrons.com)
- Fund managers who take on more responsibility show worse performance. (evidenceinvestor.co.uk)
Offers
- Buy an Alexa-powered Tap speaker and get an Amazon 7" tablet for free. Today only! (amazon.com)
- Get a free trial to HBO through your Amazon Prime account. (amazon.com)
Economy
Earlier on Abnormal Returns
- ETF links: wash sale signals. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
