Review: Jay Jaffe author of The Cooperstown Casebook: Who’s in the Baseball Hall of Fame, Who Should Be In, and Who Should Pack Their Plaques is a “clear and clever writer.” (WSJ)
Quote of the Day
"The market is high, as my models indicate. It may remain high for a while, and may get higher still. That said, it would be historically unprecedented to remain in the top decile of valuations for more than three years"
(David Merkel)
Chart of the Day

Never thought I’d see the big four airline stocks with a collective market cap in excess of $100 billion.
Markets
- Markets don't crash from all-time highs. (pensionpartners.com)
- The market IS very different this time around. (blogs.wsj.com)
- You have to be careful using historical measures of valuation. (disciplinedinvesting.blogspot.com)
- Trend following simply can't disappear. (capitalspectator.com)
Strategy
- Everything is going right for equity valuations. What happens if they reverse course? (econompicdata.blogspot.com)
- Diversification often disappoints. And that's okay. (nytimes.com)
Kindle Deals
- "Business Adventures: Twelve Classic Tales from the World of Wall Street" by John Brooks is just $1.99 for the Kindle. (amazon.com)
- "Peak: Secrets from the New Science of Expertise" by Anders Ericsson is just $2.99 for the Kindle. (amazon.com)
- "The Book of Joy: Lasting Happiness in a Changing World" by the Dalai Lama and Desmond Tutu is just $3.99 for the Kindle. (amazon.com)
Apple
- An LTE-capable Apple ($AAPL) Watch would be a BIG deal. (daringfireball.net)
- Consumers love Apple's ($AAPL) walled garden of content. (qz.com)
- MacOS and iOS will merge, it's just a matter of time. (uxplanet.org)
Tech
- Which of these companies is the Pets.com of this cycle? (l2inc.com)
- Much of the 'tech bubble' is occurring outside the province of the stock market. (mobile.nytimes.com)
Finance
- Why do investors ignore Priceline ($PCLN)? (howardlindzon.com)
- Why CNBC continues to shed viewers. (valueplays.net)
Economy
- America is still swapping manufacturing jobs for food service jobs. (bloomberg.com)
- What CEOs had to say about the economy this week. (avondaleam.com)
- A succinct summary of the week's economic events. (ritholtz.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Longform links: symptoms of depression. (abnormalreturns.com)
- The first rule of investing is.... (abnormalreturns.com)