Endorsement: Phil Knight’s Shoe Dog was “fantastic.” (Howard Lindzon)
Quote of the Day
"Simple is harder. You have to fight to keep things simple because our natural human impulses make us susceptible to stories and narratives. Simplicity is more of a psychological exercise while complexity is more about trying to outsmart the competition."
(Ben Carlson)
Chart of the Day

Never before have mortgage rates been so low while job market is so good.
Markets
- Just about every asset class fell last week. (capitalspectator.com)
- Just because a market is high doesn't mean it will implode. (mrzepczynski.blogspot.com)
Strategy
- You're using volatility signals all wrong. (bloomberg.com)
- Earnings talk is irrelevant without some measure of expectations. (thereformedbroker.com)
Kindle
- "Startup Opportunities: Know When to Quit Your Day Job" by @bfeld & @SeanWise is $0.99 for the Kindle (today only!). (amazon.com)
- Get 40% off a Kindle Unlimited subscription. (amazon.com)
Companies
- Apple ($AAPL) is losing ground in video. (wsj.com)
- Somebody is going to make money off of the re-purposing of America's malls. (medium.com)
Amazon
- How Jeff Bezos built a huge moat around Amazon ($AMZN). (basehitinvesting.com)
- Amazon Prime is set to have more users than cable. (recode.net)
- Amazon ($AMZN) is building its own version of Geek Squad. (recode.net)
- 70% of voice-enabled speakers are from Amazon ($AMZN). (techcrunch.com)
Finance
- Box Options Exchange LLC hopes to open a new open-outcry trading floor. (pointsandfigures.com)
- Crowdsourcing is taking over Wall Street. (ft.com)
Funds
- Not surprisingly Vanguard is crushing it in Europe now. (ft.com)
- Backtests are cheap and easy to run: beware. (ft.com)
Offers
- Amazon Prime Day is here. Make sure you are a Prime member to take advantage of all the deals. (amazon.com)
- You can currently get 20% off of Amazon Home Services leading up to Prime Day. (amazon.com)
- Big audio book listener? Get 40% off of an Audible.com subscription. (amazon.com)
Global
- What's driving the global expansion? (ft.com)
- A history of the renminbi. (blogs.cfainstitute.org)
- The Russian stock market is having a rough go this year. (zerohedge.com)
Economy
Earlier on Abnormal Returns
- ETF links: a tremendous boon. (abnormalreturns.com)
- There's nothing new under the sun: Amazon Prime Day is the new 'Christmas in July.' (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on Abnormal Returns. (abnormalreturns.com)