Excerpt: How Ray Dalio author of Principles: Life and Work, came to support radical openness at Bridgewater Associates. (Fortune)
Quote of the Day
"While there is little doubt that too much short-termism has negative effects, one should not assume that it follows that extreme long-termism is always for the best. The latter can be dangerous when long-term thinkers fall for fanciful narratives or investor cults."
(Izabella Kaminska)
Markets
- Global fund managers love cash and hate US equities. (fat-pitch.blogspot.com)
- "Stocks are elevated but they’re not moving very much..." (theirrelevantinvestor.com)
- Some notes from the 2017 Delivering Alpha Conference. (marketfolly.com)
Strategy
- Divest from 'sin stocks' not because it will make you more money but because it is the right thing to do. (causeandeffect.fm)
- Trading systems do not remove emotion from trading. (martinkronicle.com)
Offers
- Prime members can currently get $15 off an Amazon Fire 7 tablet. (amazon.com)
- Spend $25 at Amazon.com and get a free snack with the promo code PRIMESNACK. (amazon.com)
- Prime members can currently get $25 off an Amazon Fire HD 8 tablet. (amazon.com)
- If you are not a Prime member you can sign up today with a 30-day free trial. (amazon.com)
Apple
- The new Apple ($AAPL) Watch is more interesting than the iPhone X. (slate.com)
- Are consumers really going to buy the iPhone 8? (stratechery.com)
- Apple-designed chips have become the differentiating factor for their products. (bloomberg.com)
- iPhone X vs. iPhone 8 is going to be a difficult decision for many. (theverge.com)
- High iPhone X prices are going to drive consumers to Apple's ($AAPL) upgrade program. (businessinsider.com)
- How the iPhone X compares to Android-based competition. (theverge.com)
- An LTE-enabled Apple Watch will change how people workout. (techcrunch.com)
- Apple ($AAPL) is pushing hard on augmented reality (AR). (buzzfeed.com)
- Apple's ($AAPL) most impressive product was its new campus. (qz.com)
Credit
- Just in case you thought the CLO market went away. (bloomberg.com)
- It's okay to call subprime loans, subprime. (thebasispoint.com)
Finance
- This is a cool infographic of futures industry players. (info.rcmalternatives.com)
- Canadian stock exchange have been happy to list marijuana-related companies. (wsj.com)
- Bye, bye bank jobs. (bloomberg.com)
Fund management
- Betterment is expanding the range of portfolios is uses including ones by Goldman Sachs ($GS) and Blackrock ($BLK). (businessinsider.com)
- Family offices have cooled on hedge funds except for quant funds. (qz.com)
- Money managers think 'alternative data' is their last, best hope for generating alpha. (institutionalinvestor.com)
Global
- The Austrian government just issued a 100-year bond yielding 2.1%. (wsj.com)
- "Canada’s experiment with infrastructure spending seems to be working, at least so far." (themacrotourist.com)
- Global policy uncertainty is still above average. (review.chicagobooth.edu)
Economy
- Median household income is on the rise but the South and Midwest are lagging. (bloomberg.com)
- Amazon ($AMZN) shows the value of 'de-clustering' for tech. (bloomberg.com)
Earlier on Abnormal Returns
- Personal finance links: reaching our aspirations. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: harvesting risk premiums. (abnormalreturns.com)
- In private equity, illiquidity is a feature not a bug (abnormalreturns.com)
