Notes: Meb Faber thinks Tony Robbin’s new book Unshakeable: Your Financial Freedom Playbook is full of good advice but don’t actually let his RIA partners manage your money. (Meb Faber Research)
Quote of the Day
"Anyone can sight and recite the risks most recently endured. Those lessons should not be ignored; but don’t worry, they won’t be. The emotional scars are such that we will remember the specific risks that caused our most recent trauma for a long time (and they will be overemphasized in our analyses for years)."
(Tom Brakke)
Strategy
- Seven traits of successful active investment managers (jimoshaughnessy.tumblr.com)
- Short-term traders have more opportunites to learn from their mistakes. (traderfeed.blogspot.com)
Companies
- Why Intel ($INTC) bought Mobileye ($MBLY). (businessinsider.com)
- Amazon ($AMZN) fulfillment centers often work with local businesses. (bloomberg.com)
- Online shopping is not uniform across the US. (washingtonpost.com)
Offers
- Pre-order one of the most anticipated novels of 2017: "Startup: A Novel" by Doree Shafir. (amazon.com)
- Tax season is here. Don't wait. Get TurboTax Deluxe from Amazon. (amazon.com)
- Don't miss an episode of the hit show "Billions." Sign-up for a free trial to Showtime on Amazon Channels. (amazon.com)
Bill Ackman
- Stephen Gandel, "Ackman looks like an investor from another era, and an increasingly outdated one. His highly concentrated, and highly risky, portfolio is likely not one that most pension fund allocators will likely want to bet on in the future." (fortune.com)
- Why everyone is fascinated with Bill Ackman. (medium.com)
Finance
- Hedge fund investors are going to stop paying for beta. (valuewalk.com)
- PE is paying up for targets. (ftalphaville.ft.com)
- Sell-side research is going to continue to get squeezed. (bloomberg.com)
- Even SoFi is experiencing worse than expected loan performance. (bloomberg.com)
Funds
Global
Economy
Earlier on Abnormal Returns
- Research links: sucking up to management. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- The death of amateur bracketology and the paradox of skill. (abnormalreturns.com)
- ETF links: reading the prospectus. (abnormalreturns.com)
