List: Seven books Josh Brown is going to read this Summer including Barking Up the Wrong Tree: The Surprising Science Behind Why Everything You Know About Success Is (Mostly) Wrong’ by Eric Barker. (Reformed Broker)
Quote of the Day
“One of the first rules of business is ‘Complaining is not a strategy.’ You have to work with the world as you find it, not as you would have it be.”
(Jeff Bezos)
Chart of the Day

How China’s weight in the MSCI Emerging Markets Index is going to change over time.
Strategy
- How to invest in an overvalued market. (awealthofcommonsense.com)
- Given the fact that most investors don't earn 'average returns' what is an investor to do? (ivanhoff.com)
Companies
- Berkshire Hathaway ($BRKA) just bailed out Home Capital Group Inc. (bloomberg.com)
- Things just got real. Wal-Mart ($WMT) is requiring vendors to not build on AWS. (wsj.com)
- What is Uber worth in light of the events of the last week/month? (aswathdamodaran.blogspot.com)
Offers
- Want a fresh, new Kindle? Trade-in your old one and get an Amazon gift card and $20 bonus off a new Kindle. (amazon.com)
- "A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation" by Scott Nations looks like a good read. (amazon.com)
- Buy two Amazon Echo Shows with a promo code and get $100 off. (amazon.com)
- The Amazon Dash Wand, powered by Alexa, is free after purchase. (amazon.com)
Hedge funds
- Why isn't the hedge fund industry imploding? (bloomberg.com)
- Top investment advisors are souring on hedge funds for individual clients. (ft.com)
Psychology
- Why we feel so disconnected from our investments. (monevator.com)
- The reasons behind home bias are many, but the solution is simple. (beta.morningstar.com)
Funds
- Indexing allows you to focus on more impactful decisions. (i3-invest.com)
- Size is becoming an asset for bond fund managers. (wsj.com)
Global
Economy
- Weekly initial unemployment claims are still at historically low levels. (calculatedriskblog.com)
- What the real yield on TIPS is telling us about prospective growth. (scottgrannis.blogspot.com)
- Why the US should lengthen the average maturity of its outstanding debt. (bloomberg.com)
- The US economy needs more Amazons but is stuck with GEs. (wsj.com)
Earlier on Abnormal Returns
- Startup links: the wrong choice. (abnormalreturns.com)
- What you may have missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: feeling irresponsible. (abnormalreturns.com)
- Paper trading in the age of cryptocurrencies. (abnormalreturns.com)
- A Q&A with Wes Gray and Jack Vogel of Alpha Architect about the use of value, trend and momentum. (abnormalreturns.com)