Excerpt: A look inside the Libor scandal in David Enrich’s The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History. (WSJ)
Quote of the Day
"When you sign up with your broker you are signing up to short shares, whether you like it or not. People are then buying shares without your knowledge."
(Steven Davidoff Solomon)
Chart of the Day
Domino’s Pizza ($DPZ) stock has outperformed the big four tech giants this decade.
Markets
- It's hard to come up with scenarios where future S&P 500 returns are anywhere near historical levels. (blackcypresscapital.com)
- On the dramatic divergence between SKEW and the VIX. (twitter.com)
- Fund managers think the stock market is overvalued. (bloomberg.com)
Strategy
- The best free investing tools on the Internet. (awealthofcommonsense.com)
- The job of advisors is to keep investors from making big mistakes. (blogs.cfainstitute.org)
Offers
- The Amazon Video pilot for "The Marvelous Mrs. Maisal" is getting rave reviews. (amazon.com)
- Amazon Prime members can enjoy Prime Reading with access to thousands of books. (amazon.com)
- Are you staying up -to-date with "Billions"? If not, sign up for a trial to Showtime via Amazon Channels. (amazon.com)
Companies
- Sears Holdings ($SHLD) is now in its death throes. (nytimes.com)
- The question now is how many shopping malls will have to close? (businessinsider.com)
Funds
Global
- No matter how you slice it emerging markets are cheap relative to the US. (etf.com)
- China has a long-term demographic problem. (beta.morningstar.com)
- Brexit-affected bankers should flee to Dublin. (bloomberg.com)
Economy
- Why 2% may be a cap on US economic growth. (piie.com)
- Noah Smith and Tyler Cowen debate American complacency. (bloomberg.com)
- Poor health is affecting the male workforce dropout problem. (theatlantic.com)
Earlier on Abnormal Returns
- Personal finance links: financial paperwork. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: factor persistence. (abnormalreturns.com)
