Notes: Some excerpts from David Clark’s Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway’s Vice Chairman on Life, Business, and the Pursuit of Wealth. (Farnam Street)
Quote of the Day
"The reality is that Facebook is one of the most powerful companies the tech industry — and arguably, the world — has ever seen."
(Ben Thompson)
Markets
- The stock market's returns so far this year is not out of the realm statistically. (alephblog.com)
- Successes like Home Depot ($HD) which compound at 28% for 35 years are very, very rare. (ivanhoff.com)
Strategy
- How to thrive in a low volatility market. (forbes.com)
- The drawdowns for so-called "income assets" can be dramatically different. (blog.abglobal.com)
- The math behind passive investing is pretty straightforward. (monevator.com)
Options
- Four reasons to buy Tony Saliba's new book "Managing Expectations." (alphatrends.net)
- Buy Anthony Saliba's "Managing Expectations: Driving Profitable Option Trading Outcomes Through Knowledge, Discipline, and Risk Management." (amazon.com)
Apple-Netflix
- Apple ($AAPL) doesn't need to buy Netflix ($NFLX). (aboveavalon.com)
- Why Apple ($AAPL) should buy Netflix ($NFLX) for its "networking and data infrastructure." (om.co)
Hedge funds
- Will hedge funds converge on a '1 and 30' fee structure? (bloomberg.com)
- Numeraire, a hedge fund, wants to get traders to cooperate on building quant models. (avc.com)
- Tough luck for hedge funds trying to sue Uncle Sam over Fannie and Freddie dividends. (bloomberg.com)
Finance
- The 2017 review of online brokers. (stockbrokers.com)
- Like it, or not, nationalism plays a role in which mergers get done (or not). (nytimes.com)
Funds
- Hedge funds are converting to mutual funds. Should you ignore their historical performance? (beta.morningstar.com)
- Fund re-openings as a contrarian buy indicator. (beta.morningstar.com)
Offers
- You can get $8.62 off a $50 order at Amazon today. Stock up! (amazon.com)
- This would be a good opportunity to give Reading is Fundamental off its Wish List. (amazon.com)
Economy
- We may have reached "Peak Renter." (calculatedriskblog.com)
- Chemical activity was up in February. (calculatedriskblog.com)
- Mortgage debt is approaching 50% of GDP. (calculatedriskblog.com)
- Why taxing robots doesn't make much sense. (ftalphaville.ft.com)
Earlier on Abnormal Returns
- Personal finance links: a generational transformation. (abnormalreturns.com)
- Dopamine, confirmation bias and hiding the technology in the back. (abnormalreturns.com)
- The 2017 Credit Suisse Global Investment Returns Yearbook is here! (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: rational momentum. (abnormalreturns.com)
