Review: Ed Thorp’s A Man for All Markets is “highly recommended for anyone interested in investing.” (Value and Opportunity)
Quote of the Day
"While we mostly process linear relationships, investment success is also predicated on our ability to create or find non-linear trades. The best investors look for cheap convex trades."
(Mark Rzepczynski)
Chart of the Day
What’s the story behind Berkshire Hathaway’s ($BRKB) big bet on airlines?
Strategy
- On the importance of "simplifying the [investment] game." (peterlazaroff.com)
- Greg Blotnick, "At their core, market forecasts are an attempt to predict future investors’ emotions, and there is just no reliable way to do that." (blogs.cfainstitute.org)
Billions
- How realistic are the coaching sessions traders undergo in "Billions"? (businessinsider.com)
- "Billions" is back for Season 2! Sign-up for a free-trial for Showtime at Amazon Channels. (amazon.com)
Companies
Finance
- "Big brokerage firms do not appear concerned about Robinhood." (mobile.nytimes.com)
- Startup OpenFin wants to be "the industrywide operating layer" for Wall Street. (businessinsider.com)
- How much of accounting can be done by robots? (wired.com)
Funds
- Index funds have to buy stock in companies like Snap ($SNAP) where they have not voting rights. What if they didn't. (ft.com)
- What could stop Vanguard from industry domination? (awealthofcommonsense.com)
Kindle deals
- "Ego is the Enemy" by Ryan Holiday is just $1.99 for the Kindle. (amazon.com)
- Jenny Lawson's "Furiously Happy: A Funny Book About Horrible Things" is just $2.99 for the Kindle. (amazon.com)
Economy
- Fred Wilson, "There is a lot of economic surplus that could come from automation." (avc.com)
- Immigration restrictions will lower potential GDP. (calculatedriskblog.com)
- Trump has the potential to reshape the Fed board. (ft.com)
Earlier on Abnormal Returns
- ETF links: naming conventions. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks from last week on the site. (abnormalreturns.com)
