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Quote of the Day
"News is the cattle prod that transforms sound financial strategies into foolishly frenetic activity. I enjoy following the market’s daily drama as much as the next person. But let’s be realistic: It’s about as meaningful as an episode of the Kardashians."
(Jonathan Clements)
Chart of the Day

“The $400K+ bracket has increased significantly since the housing recovery started.”
Markets
- An inverted yield curve doesn't cause recessions, it is an indicator or something else going on. (dashofinsight.com)
- That being said, keep an eye on it. (disciplinedinvesting.blogspot.com)
Strategy
- The findings of behavioral finance apply to everyone, even you. (wsj.com)
- This is the first modern investing advertisement...and it worked! (awealthofcommonsense.com)
Trading
- Ways to get traders to think in multiple modalities. (traderfeed.blogspot.com)
- Some 'real talk' on what it takes to be a full-time trader. (adamhgrimes.com)
Apple
- What to expect on the new product front from Apple ($AAPL) this Fall. (slate.com)
- Giving people free iCloud storage would be a no-brainer for Apple ($AAPL). (theverge.com)
Funds
Chicago
- Chicago wants to borrow a bunch of money to save its pension fund. (wsj.com)
- Why this scheme is likely to end in heartbreak. (epsilontheory.com)
Elsewhere
- Nostalgia aside, there has never been a better time to live New York City. (bloomberg.com)
- What is the most momentous place in the world? (marginalrevolution.com)
Economy
- Why isn't inflation higher? (marginalrevolution.com)
- Why ending stock buybacks wont 'save' the economy. (pragcap.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)
- Why it's so difficult to change people's minds. (abnormalreturns.com)