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Quote of the Day
"Implementing a factor-based approach to investing is beyond the competence of most investors."
(Dan Solin)
Chart of the Day

Gold works as a diversifier because it has no intrinsic value.
Strategy
- Managed futures strategies rebounded in August. (mrzepczynski.blogspot.com)
- Everything about investing is emotional, everything. (collaborativefund.com)
- Suffering is thinking the markets should trade the way you think they should. (traderfeed.blogspot.com)
Finance
- You can't eat IRRs. (prestondmcswain.com)
- Look who's buying CLO equity tranches. (bloomberg.com)
- Nick Maggiulli, "Almost all financial regulation is a sort of balancing act between freedom and safety." (ofdollarsanddata.com)
Funds
Global
Economy
- What if...a whole bunch of stuff goes right in the economy? (blog.yardeni.com)
- Lumber prices are off their peak. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Personal finance links: cumulative disappointments. (abnormalreturns.com)
- Be careful when choosing your 'group' because it just might stick. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: efficient financial contracting. (abnormalreturns.com)