Review: The Complacent Class: The Self-Defeating Quest for the American Dream by Tyler Cowen should put some fear in American optimists. (WSJ)
Quote of the Day
"Bubbles are like snowflakes. No two are exactly alike, but they all share similar features; innovation, a run up in price, increased volatility, and expanding multiples, to name a few."
(Michael Batnick)
Markets
Snap
- Don't discount the banks' role in the success of the Snap ($SNAP) IPO. (nytimes.com)
- The Snap ($SNAP) IPO: meh. (thereformedbroker.com)
Offers
- "The Index Card: Why Personal Finance Doesn't Have to be Compicated" by Helaine Olen and Harold Pollack is just $1.99 for the Kindle. (amazon.com)
- The price of the best mesh wi-fi system, eero, is now $100 cheaper. Get an additional $50 off with this link: (talkable.com)
- You can now stream Academy Award winning film "Moonlight" on Amazon. (amazon.com)
Costco
- The secret of Costco's ($COST) success. (wsj.com)
- Costco ($COST) is a great company at a so-so price. (scuttlebuttinvestor.com)
Companies
- Why Warren Buffett is wrong on share buybacks. (felix.kinja.com)
- The software ethos is becoming a part of every industry. (blogs.barrons.com)
Funds
- The push into passive funds is starting to put pressure on asset managers. (bloomberg.com)
- Hedge funds don't know how to use quant insights. (news.efinancialcareers.com)
Economy
- The Fed could go either way in March. (bloomberg.com)
- Weekly initial unemployment claims are trending at historical lows. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Startup links: playing hurt. (abnormalreturns.com)
- Are index investors doing the right thing for the wrong reason? (abnormalreturns.com)
- The mediocre middle is a horrible place for investors. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: doing more sooner. (abnormalreturns.com)
- The top 10 books Abnormal Returns readers purchased in February 2017. (abnormalreturns.com)
