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Quote of the Day
"Although the word “degenerate” is too harsh a term for value stocks, the same underlying principles apply. In both scenarios, an asset’s price has been heavily influenced by the opinions and biases of humans, rather than its intrinsic worth."
(Jamie Catherwood)
Markets
- The contrast between technology and non-technology earnings are striking. (twitter.com)
- Using manufacturing data does not help you time the market. (pensionpartners.com)
- Large cap value is the worst performing factor YTD. (capitalspectator.com)
Strategy
- Don't invest in emerging markets if you are expecting a smooth ride. (bloomberg.com)
- Being short, is not the opposite of being long. It's something different. (alephblog.com)
- Why what you don't invest in is as important as what you do. (whitecoatinvestor.com)
Crypto
Companies
- The future for Apple ($AAPL) is wearables. (wsj.com)
- Putting into perspective just how big a year Amazon ($AMZN) is having. (thereformedbroker.com)
Institutional investing
- Another example why running investments for a foundation is difficult. (institutionalinvestor.com)
- Harvard is coming under criticism on how they manage their farmland holdings. (bloomberg.com)
Finance
- Are asset management execs uniquely qualified to run companies? (ft.com)
- Forcing small/mid cap stocks to trade with $0.05 increments doesn't help all that much. (wsj.com)
Funds
- ETFs haven’t made deep inroads in the municipal-bond market like they have in other asset classes. Will smart beta strategies give munis a boost? (bloomberg.com)
- Vanguard has launched the Vanguard Total World Bond ETF ($BNDW). (etf.com)
- The simplest way to lower investment fees. (tonyisola.com)
Global
Economy
- Weekly initial unemployment claims hit levels not seen since 1969. (calculatedriskblog.com)
- We are starting to see research on how the zero-lower bound affected the financial markets. (papers.ssrn.com)
Earlier on Abnormal Returns
- Startup links: a higher density of talent. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: cumulative disappointments. (abnormalreturns.com)
- Be careful when choosing your 'group' because it just might stick. (abnormalreturns.com)
Mixed media
- 15 things to do to fight selection bias in information consumption. (themoneyillusion.com)
- Congrats to Cullen Roche on ten years of blogging at Pragmatic Capitalism. (pragcap.com)
- Three investment blogs you can learn from each week. (blog.stockspot.com.au)
- Ten ways to write better blog posts. (advisorperspectives.com)
