Lists: The JP Morgan #NextList2017 includes books like Jenny Blake’s Pivot: The Only Move That Matters Is Your Next One. (JP Morgan)
Quote of the Day
"Earning returns, though, is hard, while driving down costs is comparatively easy. And while I applaud all of the work that has gone in to making this the cheapest time in history to invest, I do wonder if the industry’s relentless recent focus on cost reduction means that we’re missing — or will miss — some slightly more expensive ways to think about earning better returns."
(Tim Hanson)
Markets
- 2016 was a good year for high yield debt. (ft.com)
- Announcing the 25 stocks for the 2017 Crossing Wall Street Buy List. (crossingwallstreet.com)
Strategy
- How investing is like playing the other players. (awealthofcommonsense.com)
- Factor returns are really only available to the patient. (bpsandpieces.com)
- 2016 was a year to forget for prognosticators. (validea.com)
Offers
- Last chance holiday deals on Amazon devices including the Dot and Kindle Paperwhite. (amazon.com)
- The best mesh wifi system for your home, eero, is more than $100 off at Amazon. (amazon.com)
Companies
- AWS was the beast driving Amazon's ($AMZN) stock price this year. (techcrunch.com)
- The bull case for Apple ($AAPL). (qz.com)
- Twitter ($TWTR) ended the year pretty much where it started. (techcrunch.com)
Finance
- Options on ETFs is the only part of the options market that is growing. (ft.com)
- Five companies that are buying back shares hand over fist. (chaiwithpabrai.com)
Hedge funds
- Bridgewater wants to automate most of its operations. (wsj.com)
- How incentive fees can eat up a hedge fund's returns. (nytimes.com)
- Hedge funds are increasingly offering investors a discount on fees. (ft.com)
Funds
- The downside of conviction for a fund manager. (beta.morningstar.com)
- Liquidity issues still bother critics of bond ETFs. (ft.com)
- Great performing funds often go through significant periods of underperformance. (beta.morningstar.com)
- Vanguard keeps cutting ETF fees. (etf.com)
Earlier on Abnormal Returns
- Podcast links: leadership in crisis. (abnormalreturns.com)
- FOMO, anxiety and perfectly imperfect portfolios. (abnormalreturns.com)
- Startup links: mattress mania. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Cash cows, like the actively managed fund business, die slowly then all at once. (abnormalreturns.com)
