Notes: How Ian Purkayastha became the truffle king of America from Truffle Boy: My Unexpected Journey Through the Exotic Food Underground. (QZ)
Quote of the Day
"I’ll let you in on a little secret: the stock market is rarely a bubble. Don’t get me wrong—the market takes its lumps. You can expect a 20% selloff every few years. But that’s not necessarily a bubble."
(Eddy Elfenbein)
Chart of the Day
South Korea’s stock market hasn’t gone anywhere for a decade.
Markets
- Corporate insiders are on a buying strike. (wsj.com)
- US companies have dramatically cut back on share buybacks. (wsj.com)
- Seriously, how low can the $VIX go? (ft.com)
Strategy
- You can't compete with HFT. Find another time frame to trade. (dashofinsight.com)
- Eight lessons learned from running a proprietary trading desk. (finance.yahoo.com)
Offers
- The entire line of Amazon ($AMZN) Kindles are currently $20 off. (amazon.com)
- Michael Lewis' "The Undoing Project" is now under $10 for the Kindle. (amazon.com)
- Tax season is here. Get TurboTax Deluxe from Amazon. (amazon.com)
Companies
- Why good companies can be bad investments. (aswathdamodaran.blogspot.com)
- Chipotle ($CMG) is closing its once-promising ShopHouse Asian Kitchen chain. (jeffmatthewsisnotmakingthisup.blogspot.com)
Finance
- Interactive Brokers ($IBKR) is going to stop making markets in stock options. (wsj.com)
- How IEX's data feed is different. (martinkronicle.com)
- Wall Street price targets follow the stock price, not the other way around. (ericcinnamond.com)
Options
- What every options trader needs to know about delta: an excerpt from Tony Saliba's "Managing Expectations." (martinkronicle.com)
- Get Tony Saliba's "Managing Expectations: Driving Profitable Option Trading Outcomes Through Knowledge, Discipline, and Risk Management" at Amazon. (amazon.com)
Funds
- How mutual fund managers get paid bonuses is telling. (beta.morningstar.com)
- Nine questions every ESG strategy should be able to answer. (thereformedbroker.com)
- A look inside John Rekenthaler's portfolio. (beta.morningstar.com)
Economy
- The February NFP report was another strong one. (calculatedriskblog.com)
- Wage growth for lower paid employees is on the rise. (theatlantic.com)
Earlier on Abnormal Returns
- Podcast links: dirty jobs. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: put down that pitch. (abnormalreturns.com)
- The low-vol effect: using arithmetic instead of econometrics. (abnormalreturns.com)
- Structural breaks and revolutionary inventions. (abnormalreturns.com)
