Review: Tomasz Tunguz, “Algorithms to Live By has changed the way I think about investing in startups and advising them.” (Tomasz Tunguz)
Quote of the Day
"There are a million ways to get rich. But there’s only one way to stay rich: Humility, often to the point of paranoia. The irony is that few things squash humility like getting rich in the first place."
(Morgan Housel)
Chart of the Day
Mark Cuban, “I think Amazon is the greatest start-up and the greatest company in the world.”
Markets
- The case for muni bonds. (barrons.com)
- Think twice before selling your laggards. (thereformedbroker.com)
- Are we in the midst of a "melt-up"? (dashofinsight.com)
Strategy
- This is the biggest mistake investors make. (stockcharts.com)
- On the high cost of always calling for a bear market. (fortunefinancialadvisors.com)
- What a real trading education entails. (traderfeed.blogspot.com)
- There's more to being a fee-only investment advisor. (alephblog.com)
Billions
- Scott Tobias, "One of the most compelling aspects of “Billions” is that it is as much a reflection on how the public perceives the rich and powerful as it is a condemnation of the rich and powerful. (washingtonpost.com)
- "Billions" is back for Season 2! Sign-up for a free-trial for Showtime at Amazon Channels. (amazon.com)
Oil
- The oil sands are in a tough spot. (wsj.com)
- How shale oil supply has changed the boom/bust nature of oil prices. (sl-advisors.com)
Companies
- Why the wireless carrier game got upended this week. (theverge.com)
- The case for being short US malls. (valuewalk.com)
Snap
- How Snap ($SNAP) is different from Facebook ($FB) or Google ($GOOGL). (ben-evans.com)
- Is "building new products" a viable strategy for Snap ($SNAP)? (hbr.org)
Finance
Funds
- Howard Lindzon, "If Vanguard was a public company the stock would be at all time highs today." (medium.com)
- Is the battle over the fiduciary rule wasted effort? (beta.morningstar.com)
Offers
- The highly acclaimed "Sapiens: A Brief History of Humankind" by Yuval Noah Harari" is just $4.99 for the Kindle. (amazon.com)
- "The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World" by Brad Stone looks like a good read. (amazon.com)
Global
Economy
- What are we to make of declining US investment? (conversableeconomist.blogspot.com)
- A closer look at the decline in the US homeownership rate. (libertystreeteconomics.newyorkfed.org)
- What CEOs had to say about the economy this week. (avondaleam.com)
- A succinct summary of the week's economic events. (ritholtz.com)
- The economic schedule for the holiday-shortened week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Longform links: worrying about politics. (abnormalreturns.com)
- My Q&A with Ben Carlson author of "Organizational Alpha: How to Add Value in Institutional Asset Management." (abnormalreturns.com)
- Our February round-up looking at the past month's book-related items. (abnormalreturns.com)
