Review: Winning the Loser’s Game: Timeless Strategies for Successful Investing, Seventh Edition (2017) by Charles D. Ellis, CFA is still “an investment classic.” (CFA Institute)
Quote of the Day
"As equity prices go farther beyond tangible net assets and predictable earnings flow, relying more on assumptions of future growth, the market is more risky, not less."
(Aaron Brown)
September performance
- How tactical asset allocation strategies performed in September. (allocatesmartly.com)
- Managed futures returns across CTA's were down on average for September based on reversals in currency and bond trends. (mrzepczynski.blogspot.com)
Markets
- How markets perform after finishing on the high at the end of the month. (quantifiableedges.com)
- The US dollar is entering a seasonally strong period. (topdowncharts.com)
Strategy
- Nick Maggiulli, "Investing is the grand equalizer of the world. It does not care about your gender, race, religion, sexual orientation, or any other aspect of your identity." (ofdollarsanddata.com)
- Why small cap stocks are finally rallying. (bloomberg.com)
- 22 'timeless lessons' from 22 months as a portfolio manager. (yetanothervalueblog.com)
- Why TAA is a reasonable approach in overvalued markets. (investingforaliving.us)
Memberships
- Sign-up for a new Abnormal Returns membership, get cool, exclusive benefits and we will donate 10% of proceeds to charity. (abnormalreturns.com)
- Back by popular demand is the Benefactor level ($75) for the ultimate Abnormal Returns fan. (abnormalreturns.memberful.com)
- You can now give your favorite people a gift membership to Abnormal Returns. (abnormalreturns.memberful.com)
Companies
- Berkshire Hathaway ($BRKA) is getting into the truck stop business. (wsj.com)
- YogaWorks ($YOGA) is the epitome of a 'broken IPO.' (bloomberg.com)
Cryptocurrencies
- Episode 2 of Hash Power is up with talks with big investors in the cryptocurrency space. (investorfieldguide.com)
- Hedge funds love to flip ICOs. (bloomberg.com)
- Look out crypto-fans, here comes Goldman Sachs ($GS)! (wsj.com)
- Open a Coinbase account, trade $100 in cryptocurrency and get $10 Bitcoin free. (coinbase.com)
Funds
Offers
- "Stick with It: A Scientifically Proven Process for Changing Your Life-for Good" by Sean Young is just $0.99 for the Kindle. (amazon.com)
- Prime members can get $30 off a new Kindle like the popular Paperwhite. (amazon.com)
- "The Grid: The Fraying Wires Between Americans and Our Energy Future" by Gretchen Bakke is just $1.99 for the Kindle. (amazon.com)
- "The Ostrich Paradox: Why We Underprepare for Disasters" by Robert Meyer and Howard Kunreuther is just $1.99 for the Kindle. (amazon.com)
Economy
- There are still very few signs of recession. (pragcap.com)
- Mortgage debt payments as a percentage of disposable income are the lowest we have seen in over 35 years. (finuke.com)
Earlier on Abnormal Returns
- Research links: a healthy understanding. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- ETF links: useful tools. (abnormalreturns.com)
- Our faltering ability to have serious discussions. (abnormalreturns.com)
Mixed media
- How introverts can approach (and thrive) at big social and professional events. (hunterwalk.com)
- How to survive a children's birthday party as an introvert. (quietrev.com)
- Speaking of introvert's Morra Aarons-Mele's "Hiding in the Bathroom: An Introvert's Roadmap to Getting Out There (When You'd Rather Stay Home)" has just come out to great reviews. (amazon.com)
