Notes: History is more cyclical than we thought. Insights from Tyler Cowen’s forthcoming new book The Complacent Class: The Self-Defeating Quest for the American Dream. (Marginal Revolution)
Quote of the Day
"Markets are stable and markets are changeable. What makes markets challenging to trade is that periods of stability, whether they be trends or ranges, give way to shifting periods and vice versa."
(Brett Steenbarger)
Strategy
- Markets are often wrong. So are investors. (bloomberg.com)
- Is it possible to identify activist targets ahead of time? (ft.com)
Options
- Fifteen truths about options trading. (medium.com)
- Market Wizard Tony Saliba's new book "Managing Expectations: Driving Profitable Option Trading Outcomes Through Knowledge, Discipline, and Risk Management" is now available. Get a free e-book and audiobook version today. (martinkronicle.com)
Offers
- Ed Thorp's long awaited memoir, "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" is now out. (amazon.com)
- Robert Cialdini's first (classic) book "Influence: The Psychology of Persuasion" is just $1.99 for the Kindle. (amazon.com)
- "The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life" by Mark Manson seems like an appropriate read for 2017. (amazon.com)
Companies
- The problem of following up on a star CEO. (bloomberg.com)
- John Huber, "If you’re a long-term owner (or manager) of a business, you should focus on running your business. Market and promote your products and services, not your stock price." (basehitinvesting.com)
Finance
- Howard Lindzon, "If Vanguard did not exist, Google would have long ago started into the financial products business." (howardlindzon.com)
- Sell-side research is really just a big access game. (beta.morningstar.com)
Funds
Global
Economy
- Existing home sales are at post-crisis highs. (calculatedriskblog.com)
- US farmland prices are still falling. (agrimoney.com)
- Have we reached Peak Millennial? (nytimes.com)
Earlier on Abnormal Returns
- Research links: factor firings. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: requiring moderation. (abnormalreturns.com)
- In search of an edge: the life and times of Ed Thorp. (abnormalreturns.com)
- The best blogs to read for Financial Advisors in 2017. (advisorwebsites.com)
Mixed media
You can support Abnormal Returns by visiting Amazon, signing up for our daily newsletter, liking us on Facebook or following us on Yahoo Finance, LinkedIn, Medium, StockTwits and Twitter.
