List: A list of the best business books, ever, including Shoe Dog by Phil Knight. (@polina_marinova)
Quote of the Day
"By vehemently avoiding failure, embarrassment, shame, and regret, we’re also fundamentally avoiding success, fulfillment, pride, and joy."
(Brendan Mullooly)
Chart of the Day

“The argument for a rise in volatility has to be focused on some event that will serve as a volatility shock catalyst.”
Strategy
- Investing is a forward-looking endeavor. (validea.com)
- It's not a tail risk if it is already being talked about. (pragcap.com)
- You can't move forward as an investor if you don't know what came before you. (blog.cordantwealth.com)
- The fish rots from the head down. (thereformedbroker.com)
Crypto
- Unregulated entities, like Bitfinex, are still running wild. (nytimes.com)
- A lot of blockchain-type seeds have been planted, let's see what they grow into. (ftalphaville.ft.com)
- Open a Coinbase account, trade $100 in cryptocurrency and get $10 in Bitcoin free. (coinbase.com)
Amazon
- Amazon's most powerful tablet the HD 10 is $50 off. (amazon.com)
- Buy three new Echos and get $60 with the ECHO3PACK promo code. (amazon.com)
- Amazon Kindle and Kindle Paperwhites are now $30 off. (amazon.com)
- Bose QuietComfort 25 Acoustic Noise Cancelling Headphones are at a huge discount. (amazon.com)
Companies
- No matter how you slice it, Tesla ($TSLA) is burning a lot of cash. (bloomberg.com)
- The case for merging Square ($SQ) and Twitter ($TWTR). (medium.com)
- Twitter ($TWTR) is not nearly bold enough. (nytimes.com)
- Apple's ($AAPL) FaceID is "like magic." (500ish.com)
Fund management
Net neutrality debate
Kindle
- "Grit to Great: How Perseverance, Passion, and Pluck Take You from Ordinary to Extraordinary" by Linda Kaplan Thaler and Robin Koval is just $1.99 for the Kindle. (amazon.com)
- "Perennial Seller: The Art of Making and Marketing Work that Lasts" by Ryan Holiday is just $1.99 for the Kindle. (amazon.com)
- "Tulipomania: The Story of the World's Most Coveted Flower & the Extraordinary Passions It Aroused" by Mike Dash is just $1.99 for the Kindle. (amazon.com)
Economy
- Weekly initial unemployment claims are hanging around "low levels." (calculatedriskblog.com)
- The yield curve story is being overhyped. (pragcap.com)
- Cash ain't dead yet. (qz.com)
Earlier on Abnormal Returns
- Personal finance links: freeing up time. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: highly constrained versions. (abnormalreturns.com)
- A Q&A with Will Rhind, founder and CEO of new ETF provider GraniteShares. (abnormalreturns.com)
- Q&A with Tom Jacobs editor of "Fortunes in Special Situations in the S (abnormalreturns.com)