Notes: Derek Thompson, “Cowen’s book [The Complacent Class] performs the trick of all successful idea-driven non-fiction. It provides an open invitation for the reader to think deeply, even when deep thinking leads to some disagreement.” (The Atlantic)
Quote of the Day
"CEO compensation isn’t the pay for performance its advocates claim. Instead, it is unmoored from any rational basis. This makes it an inappropriate wealth transfer from shareholders to management."
(Barry Ritholtz)
Chart of the Day
The shift in the Barclays Aggregate Bond Index over time.
Markets
- This model is pointing towards a flat stock market six month hence. (marketwatch.com)
- Happy 8th birthday to the bull market. (crossingwallstreet.com)
- Financials continue to lead the US sector leaderboard. (capitalspectator.com)
Strategy
Offers
- Tax season is nigh. Get TurboTax Deluxe from Amazon. (amazon.com)
- The entire line of Amazon ($AMZN) Kindles are currently $20 off. (amazon.com)
- Michael Lewis' "The Undoing Project" is now under $10 for the Kindle. (amazon.com)
Companies
Gender
- State Street ($STT) will start to vote against companies without a woman on the board of directors. (wsj.com)
- Only 4.2% of Fortune 500 companies are run by women. (qz.com)
Finance
Malls
- Shopping malls are scrambling for big anchor tenants. That is why they are turning to grocery stores. (wsj.com)
- It's hard to find a bullish case for mall REITs. (wsj.com)
Global
Earlier on Abnormal Returns
- Research links: momentum crashes. (abnormalreturns.com)
- The low-vol effect: using arithmetic instead of econometrics. (abnormalreturns.com)
- Structural breaks and revolutionary inventions. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: novel ideas. (abnormalreturns.com)
