Book Q&A: Ben Carlson author of Organizational Alpha: How to Add Value in Institutional Asset Management talks with Jeffrey Ptak of Mornignstar about the book. (Morningstar)
Quote of the Day
"The difference between a prediction and a probability is the difference between a pundit and a professional. One makes concentrated bets on the belief that they can predict the future and the other diversifies with the understanding that they cannot."
(Charlie Bilello)
Chart of the Day
Why Netflix ($NFLX) is ‘Enemy No. 1’ in Hollywood: the explosion of new TV shows illustrated.
Markets
Strategy
- How to evaluate 'true diversifiers.' (longboardfunds.com)
- Your asset allocation can be explicit or implicit: choose explicit. (fmdcapital.com)
- Fees matter. (peterlazaroff.com)
- How even a small investment can drive you crazy. (marketwatch.com)
Offers
- Kindle e-readers are $30-$50 off at present. (amazon.com)
- You can get $30 off cleaning and handyman services at Amazon Home Services. (amazon.com)
Retail
- Even Manhattan can't avoid the retail real estate depression. (bloomberg.com)
- Don't be fooled by the high dividend yields on troubled retailers. (bloomberg.com)
Finance
Hedge funds
- David Einhorn wants GM ($GM) to split its stock into two classes. (wsj.com)
- Peak hedge fund? The number of active Bloomberg terminals declined in 2016. (fnlondon.com)
- Raising money from investors and allocators ain't easy. If you don't have a process you won't succeed. (martinkronicle.com)
Funds
- One downside of index funds: active managers feel the need to be fully invested. (ericcinnamond.com)
- Some funds have attracted worrisome inflows. (beta.morningstar.com)
Economy
- The January Case-Shiller numbers show a 5.9% increase in home prices. (calculatedriskblog.com)
- Consumer confidence is at a 16-year high. (marketwatch.com)
Earlier on Abnormal Returns
- Research links: macro vol. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: ugly math. (abnormalreturns.com)
- Analog machines and depreciating code: insights from David Sax's "The Revenge of Analog." (abnormalreturns.com)
Mixed media
- Medium's latest move and the power of independence. (kottke.org)
- On the parallels between fishing and investing. (howardlindzon.com)
- Seth Godin, "What would happen if you created something noteworthy and worried about scale only after you've figured out how to make a difference?" (sethgodin.typepad.com)
