Review: The Laws of Wealth: Psychology and the Secret to Investing Success by Daniel Crosby makes the case for “rule-based behavioral investing to help defeat behavioral risk.” (Reading the Markets)
Quote of the Day
"Smart beta is stupid."
(Jack Bogle)
Markets
- Why you should ignore Trump's tweets. (ftalphaville.ft.com)
- There is a bull market in lithium. (ft.com)
Offers
- Pre-order Market Wizard Tony Saliba's forthcoming "Managing Expectations: Driving Profitable Option Trading Outcomes Through Knowledge, Discipline, and Risk Management" and get a free e-book and audio version, to boot. (martinkronicle.com)
- Sign up for a free trial to Audible.com and get two free books including "A Man for all Markets." (amazon.com)
- Pre-order the forthcoming memoir by Ed Thorpe "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market." (amazon.com)
Retail
- The long, sad tale of Eddie Lampert and Sears Holdings ($SHLD). (ibankcoin.com)
- Department stores are no longer attractive tenants for malls. (nytimes.com)
Hedge funds
- Och-Ziff ($OZM) had a 2016 to forget. (institutionalinvestor.com)
- The money-management industry has a diversity problem. (businessinsider.com)
- Another year, another poor performance for hedge funds. (ft.com)
- Hedge funds are NOT dead. (alphabaskets.com)
Funds
- Impact investing is going mainstream. (economist.com)
- Active managers have the ability to save themselves. (evidenceinvestor.co.uk)
- WTF are T-shares? (beta.morningstar.com)
- Do long-short equity mutual funds look good over the long run? (capitalspectator.com)
Economy
- The December NFP showed continued payroll growth and a 4.7% unemployment rate. (calculatedriskblog.com)
- The December services ISM was strong. (calculatedriskblog.com)
- Forecasting is for suckers. (bloomberg.com)
- Five economic terms everyone should know. (bloomberg.com)
Earlier on Abnormal Returns
- Podcast links: awkward talks. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: change produces information. (abnormalreturns.com)
- Soros, fallibility, reflexivity, and the importance of adapting. (abnormalreturns.com)
