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Quote of the Day
"One of the hardest things for investors to do is soak in a lot of information but NOT take action. Next hardest is to act on the processes you have set up based on the information that develops over time."
(Howard Lindzon)
Chart of the Day

Consumer discretionary stocks have outperformed consumer staples since 2008.
Strategy
- Why do some shocks affect the global economy and others don't? (ritholtz.com)
- Relative drawdowns in a stock, as successful as Facebook ($FB), are still substantial. (theirrelevantinvestor.com)
- On the difference between yield and income. (morningstar.com)
Finance
- How the financial crisis changed home buying forever. (wsj.com)
- You can't be a private bank these days without an in-house art advisor. (ft.com)
- Deutsche Bank's fall from grace is epic. (themacrotourist.com)
Funds
Economy
- The August NFP report was another in a long line of decent reports. (calculatedriskblog.com)
- Eight charts on the solid August NFP report. (blogs.wsj.com)
- Macro data continues to show little sign of weakness in the US economy. (fat-pitch.blogspot.com)
Earlier on Abnormal Returns
- Podcast links: e-mail editorial. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Startup links: a higher density of talent. (abnormalreturns.com)
- Be careful when choosing your 'group' because it just might stick. (abnormalreturns.com)
Mixed media
- Why you should gift books VERY selectively. (marginalrevolution.com)
- Three books worth checking out including "Tiger Woods" by Jeff Benedict & Armen Keteyian. (thefinancialbodyguard.com)
- Why Gary Shteyngart decided to set his latest novel "Lake Success" amidst the hedge fund set. (barrons.com)
- The power of reading memoirs. (feld.com)