Book list: Bill Gates’ favorite books of 2016 including The Grid: The Fraying Wires Between Americans and Our Energy Future by Gretchen Bakke. (Gates Notes)
Quote of the Day
"Throughout the investment ecosystem, the stresses and strains are increasing. Expectations regarding achievable results for the ultimate owners of assets are generally out of whack with relatively low prospective returns. Costs throughout the system are too high given the outcomes that are delivered."
(Tom Brakke)
Markets
- The share of global equity market cap represented by the US is at a level not seen since 2000. (blog.gavekalcapital.com)
- Stocks are rich by this measure but not ridiculous. (twitter.com)
Strategy
- Why diversification is such a bummer. (awealthofcommonsense.com)
- Why investors are worried about rising interest rates. (theirrelevantinvestor.com)
Tools of Titans
- Lessons James Altucher took from Tim Ferriss' new book "The Tools of Titans." (medium.com)
- Get "Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers" at Amazon. (amazon.com)
Companies
- Intel ($INTC) is pretty much a server chip maker. (bloomberg.com)
- Apple ($AAPL) Music now has 20 million subscribers. (billboard.com)
Finance
- Do not think about tipping a relative with insider information. (wsj.com)
- Launching a US Treasury 'century bond' isn't as easy as it sounds. (ftalphaville.ft.com)
Funds
- The Pimco Total Return Fund is no longer the biggest. (wsj.com)
- Why tactical asset allocation funds have a tendency to underperform static allocations. (blogs.cfainstitute.org)
- Three mistakes to avoid when analyzing CEFs. (fmdcapital.com)
Offers
- Sign up for Audible.com and get two free books including "The Undoing Project" by Michael Lewis. (amazon.com)
- People are going crazy for "Westworld." Get the whole first season with a free trial to HBO via your Amazon Prime account. (amazon.com)
Global
- India is poised to get its first REIT courtesy of Blackstone Group ($BX). (wsj.com)
- Indian banks are facing a deluge of cash. (ftalphaville.ft.com)
Economy
- What happens to employment if checkout lines go away? (bloomberg.com)
- Why men are slower to adapt to the new economy. (bloomberg.com)
- The downside of a universal basic income....people want a job. (economistsview.typepad.com)
Earlier on Abnormal Returns
- Personal finance: quit trying so hard. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: a simple portfolio. (abnormalreturns.com)
