Notes: Silicon Valley types love the A Culture Novel series by sci-fi writer Iain M. Banks. (Economist)
Quote of the Day
"Tesla has ascended into a rarefied realm of so-called story stocks — companies that have so bewitched investors that their stock prices are impervious to any traditional valuation measures because their stories are simply too good not to be true."
(James B. Stewart)
Chart of the Day
The American stockmarket’s index weight is also more than double the country’s share of global GDP.
Markets
- How this stock market compares to 2000 and 2007. (wsj.com)
- The stock market doesn't stand still for anyone. (awealthofcommonsense.com)
Strategy
- "People want uncorrelated assets until they’re uncorrelated to the downside." (awealthofcommonsense.com)
- An in-depth look at the Growth-Trend market timing model from Philosophical Economics. (allocatesmartly.com)
- In praise of investment checklists. (aaii.com)
- How to avoid value traps. (blog.johnsoninv.com)
Sponsored link
Companies
- An iPad turnaround is coming. (qz.com)
- Warehouse automation is a hot growth area. (bloomberg.com)
- Company culture matters. Just look at Steel Dynamics ($STLD). (intelligentfanatics.com)
- Canadian-listed marijuana companies are investing in the US. (bloomberg.com)
Finance
- Spotify is considering a direct listing on a stock exchange bypassing a traditional IPO. (wsj.com)
- Seven fintech startups to watch. (medium.com)
- In case you wondered how dominant electronic trading had become to the FX markets. (dealbreaker.com)
Funds
- WorldQuant is trying to build a global alpha factory. (wsj.com)
- A shakeout in the fund management industry would actually be good for active managers. (bloomberg.com)
Offers
- Purchase the well-reviewed "Emotional Agility: Get Unstuck, Embrace Change, and Thrive in Work and Life" by Susan David for just $1.99 for the Kindle. (amazon.com)
- The business classic "Barbarians at the Gate: The Fall of RJR Nabisco" by Bryan Burroughs and John Helyar is still $1.99 for the Kindle. (amazon.com)
- The Mihaly Csikszentmihalyi classic "Flow: The Psychology of Optimal Experience" is currently just $1.99 for the Kindle. (amazon.com)
Global
Earlier on Abnormal Returns
- Podcast links: effective behavior change. (abnormalreturns.com)
- The ongoing challenge of content generation (and curation). (abnormalreturns.com)
- Startup links: articulating the risks. (abnormalreturns.com)
- Personal finance links: moving forward. (abnormalreturns.com)
- Research links: factorization of active management. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: the basketization trend. (abnormalreturns.com)
