List: The best books on financial history including The Panic of 1907: Lessons Learned From the Market’s Perfect Storm by Robert Bruner and Stan Carr. (A Wealth of Common Sense
Quote of the Day
"Jeff Bezos picked off the bookstore business. Apple totally picked off the music business and Netflix totally changed television. Now [machine learning] is going to pick off the hedge funds."
(Jeff Tarrant of Protégé Partners)
July markets
- How major asset classes performed in July. (capitalspectator.com)
- July was a risk-on month. (mrzepczynski.blogspot.com)
Markets
- Why a focus on the $VIX is misleading. (ritholtz.com)
- Junk bond spreads just keep on declining. (bloomberg.com)
- Don't call for a top before there is at least a little weakness. (thereformedbroker.com)
- Do oil stocks now have a permanent headwind? (markdow.tumblr.com)
Strategy
- Good investors try to tune out the noise. (ofdollarsanddata.com)
- Why do investors unnaturally fear a crash? (mrzepczynski.blogspot.com)
- Demand outstrips supply for good ESG investing opportunities. (collaborativefund.com)
Offers
- Buy two Amazon Echo devices and receive $100 off your order with code ECHO2PACK. (amazon.com)
- Trade in your old Kindle and get $20 off a new one. (amazon.com)
- Sam Harris' "Waking Up: A Guide to Spirituality Without Religion" is just $1.99 for the Kindle. (amazon.com)
Companies
- What Spotify is doing in anticipation of a direct listing of its stock. (techcrunch.com)
- Starbucks ($SBUX) is going big (and alone) in China. (nytimes.com)
- Liberty SiriusXM ($LSMKX) trades at a 16% discount to SiriusXM ($SIRI) stock. (sumzero.com)
- Etsy ($ETSY) isn't a tech company, its a retailer. (wsj.com)
Trading
- Equity trading is rapidly becoming the province of algorithms. (dealbreaker.com)
- What is the correct measure of trading efficiency for an exchange? (beta.morningstar.com)
Finance
Hedge funds
- Not even the hedge fund elite are immune from client redemptions. (bloomberg.com)
- Man Group is increasing AUM but alongside that comes fee compression. (bloomberg.com)
- A rarity in the hedge fund world: a new short-focused fund. (bloomberg.com)
Economy
- The July ISM manufacturing report was "solid." (calculatedriskblog.com)
- Youth employment is finally picking up. (fredblog.stlouisfed.org)
- How Americans get their health care: an infographic. (visualcapitalist.com)
Earlier on Abnormal Returns
- Research links: shrinking alphas. (abnormalreturns.com)
- The hidden genius of robo-advice: overcoming algorithm aversion. (abnormalreturns.com)
- Asset allocators gotta allocate, but they don't have to hate. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: size constraints. (abnormalreturns.com)
Mixed media
- Why you should say nice things about your colleagues. (hbr.org)
- Be careful what you wish for, you just might get it. (thereformedbroker.com)
- Why your business should "respect whales." (sethgodin.typepad.com)
- Big changes come about through "small actions repeated consistently over a very long period of time." (nytimes.com)
