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Quote of the Day
"The big players in the investment industry – the foundational components of that industrial complex – evolved in an environment much different from the one they face today. Hoping the days of yore will return is one option; the firms that will survive and thrive will choose a different course."
(Tom Brakke)
Markets
- 75% of bull markets are nothing but multiple expansion… (ritholtz.com)
- Jeremy Grantham on why you safely ignore oil stocks in your portfolio. (thereformedbroker.com)
Strategy
- The Bitcoin bubble and bust has been an abject lesson in markets. (theirrelevantinvestor.com)
- When, if ever, do zero coupon bonds belong in your portfolio? (awealthofcommonsense.com)
- How investors should take on commodity exposure. (mrzepczynski.blogspot.com)
- Why we diversify: because we don't know what the future holds. (pensionpartners.com)
Support
- Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
- Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)
Crypto
Companies
- Making the case that Apple ($AAPL) is an 'anti-fragile' company. (asymco.com)
- Two years in Twitter ($TWTR) has made a huge comeback. What worked? (buzzfeed.com)
Books
- A summer reading list from a host of financial types including "Leonardo" by Walter Isaacson. (financial-planning.com)
- 18 business biographies worth reading including "Shoe Dog" by Phil Knight. (fortune.com)
- 10 books JP Morgan recommends this Summer including "The Space Barons" by Christian Davenport. (businessinsider.com)
Funds
- Publicly traded asset managers don't fare well no measures of corporate governance. (institutionalinvestor.com)
- Is there a benefit to the closed-end fund structure for managers? (ft.com)
Global
- Remember Greece? It looks there is finally a permanent debt relief package. (ft.com)
- The agreement hinges on Greece's ability to once again borrow money on its own. (bloomberg.com)
Demography
- Our dystopian future includes increasing age group conflict. (bloomberg.com)
- American demographics are pointing toward a huge surge in the dependency ratio (wsj.com)
Economy
- Good luck finding signs of a recession any time soon. (blogs.uoregon.edu)
- Housing inventory seems to have bottomed nationwide. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Podcast links: the power of narrative. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: making a go of it. (abnormalreturns.com)
Mixed media
- Josh Elman via Howard Lindzon, "Find the company you love. Reach out. Have a huge impact. Be like Jack!" (howardlindzon.com)
- DHH, "That perspective of permanence gives you a completely different outlook on your actions and your overall strategy." (m.signalvnoise.com)
- Seth Godin, "All software is held together with patches, shortcuts and cruft." (seths.blog)
