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Quote of the Day
“Trend following is so uncomfortable and bad that it's almost indistinguishable from a strategy that no longer works. "Working" and "not working" looks almost the same.”
(Jerry Parker)
Markets
- The Elastic ($ESTC) IPO aside, it was an ugly week. (howardlindzon.com)
- The psychology of rising rates is now hard to avoid. (dashofinsight.com)
- Stocks and bonds rarely fall together over long periods of time. (pragcap.com)
Strategy
- Josh Brown, "It’s hard to be a billionaire and stay hungry. It’s not easy to adapt to new environments and to admit that some kinds of changes are permanent, not cyclical...No one can be an elite player of this game forever. That expectation is unrealistic." (thereformedbroker.com)
- Why we are so easily fooled by market randomness. (priceactionlab.com)
- How much does Google ($GOOGL) pay Apple ($AAPL) in traffic acquisition costs (TAC)? (asymco.com)
- Google ($GOOGL) is fundamentally changing how Chrome works. (slate.com)
Fund management
- Don't fall into the 'passive is good, active is bad' trap. (pragcap.com)
- The mutual fund industry is having to transform itself. (barrons.com)
- Investment consultants don't get enough attention, i.e. blame, for the pensions mess. (blairbellecurve.com)
Economy
- The Shale revolution makes America a cheap plastics producer. (sl-advisors.com)
- Geographic income inequality decreased in the US before ticking up over the past 30 years. (visualcapitalist.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)
- Longform links: downplaying IQ. (abnormalreturns.com)
- Honestly assessing your edge in the markets. (abnormalreturns.com)
- Success isn't permanent: the case of GE. (abnormalreturns.com)
- Gradual Fed braking and putting money under your mattress. (abnormalreturns.com)
