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Quote of the Day
"The challenge for active managers is not from the outside. It comes from within. It comes from the many tens of thousands of investment professionals who have raised the level of skill required to succeed at active management--and from the tens of thousands of new entrants who join the industry each year."
(John Rekenthaler)
Chart of the Day
Putting post-recession stock market rallies into perspective.
History
- Important lessons learned from the GFC. (blairbellecurve.com)
- What investor reaction to the Guinness IPO in 1886 tells us about human behavior. (medium.com)
Strategy
- How big market numbers, i.e. $1 trillion in market cap, could serve as a stock price trigger. (aswathdamodaran.blogspot.com)
- For the last time, you do not understand structured notes better than the bank issuing them. (wsj.com)
- How to take a bite out of investor overconfidence. (behaviouralinvestment.com)
Companies
Funds
- Some charts showing decline in the hedge fund industry. (bloomberg.com)
- One of these days "passive" management share is going to exceed "active" share. (thereformedbroker.com)
Economy
- Wage growth and the stock market. (awealthofcommonsense.com)
- Small business optimism is at a record high with finding workers the biggest issue. (calculatedriskblog.com)
- More signs that the labor market is tight. (disciplinedinvesting.blogspot.com)
- Outside of trade it is hard to find much in the way of weak economic indicators. (scottgrannis.blogspot.com)
Earlier on Abnormal Returns
- Research links: advice worth paying for. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: the aging brain. (abnormalreturns.com)
