Review: Burton Malkiel writes Ed Thorp’s A Man for All Markets is full of “important lessons about the function of markets and the logic of investment.” (WSJ)
Quote of the Day
"In finance, mathematicians and economists strive to produce elegant formulas for an inelegant universe. The beauty of investing, though, is that no formula can accurately predict future results."
(Arne Alsin)
Markets
- 2016 was a most unusually average year. (basonasset.com)
- Market declines happen in nearly every up year. (disciplinedinvesting.blogspot.com)
- A high yield divergence: corporates vs. munis. (wsj.com)
Strategy
- The rule of law matters for equity valuations. (thereformedbroker.com)
- How to create high quality research. (awealthofcommonsense.com)
- What experts got (mostly) wrong in 2016. (etf.com)
Offers
- Sign up for a free trial to HBO at Amazon Video so you can watch the new Warren Buffett documentary. (amazon.com)
- Robert Cialdini's first (classic) book "Influence: The Psychology of Persuasion" is just $1.99 for the Kindle. (amazon.com)
- Sign up for an Audible.com free trial and get Ed Thorp's "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" for free. (amazon.com)
Companies
- Do big companies have a 'moral obligation' to the cities in which they reside? (businessinsider.com)
Warren Buffett
- Berkshire Hathaway ($BRKA) has cash. 3G is itching for a deal. (bloomberg.com)
- The new HBO documentary "Becoming Warren Buffett" is a surprisingly personal story. (nytimes.com)
- Sign up for a free trial to HBO at Amazon Video. (amazon.com)
Finance
- The CME Group ($CME) wants more individuals to trade futures. (wsj.com)
- The Park Slope Food Co-op pension fund is surrounded in controversy. (wsj.com)
Funds
- Why fund fees should be a starting point for investors. (beta.morningstar.com)
- Governance is the new active management. (ft.com)
- Ho hum. Vanguard reduces fees on 15 funds. (citywireusa.com)
Earlier on Abnormal Returns
- ETF links: not-so heavily traded. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
- Financial forecasts and our limited cognitive resources. (abnormalreturns.com)
