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Quote of the Day
"The stock market may be efficient, but emulation is the way of the world. Take a good idea. Drive it into the ground like a tomato stake. Boom: It’s a bad idea."
(James Grant)
Markets
- Four important indicators Tom Lee is paying attention to these days. (thereformedbroker.com)
- It's been nearly impossible to not make money in fixed income this year. (capitalspectator.com)
Strategy
- Some lessons learned from Greg Zuckerman's new book "The Man Who Solved the Market: How Jim Simons Launched a Quant Revolution" including know who's on the other side of the trade. (awealthofcommonsense.com)
- Making the case for the value factor today. (aqr.com)
Private equity
- Lower expected returns are inducing all sorts of 'lottery-like' behavior on the parts of institutional investors. (ritholtz.com)
- What kind of returns should investors expect from private equity? (alphaarchitect.com)
- Some thought on the illiquidity premium. (economist.com)
Trading
- Traders in Europe calling for shorter market hours. (ft.com)
- A blockchain-based clearing system is going to get tested on a handful of US stocks. (wsj.com)
Finance
- Distressed debt investors are still waiting for an opportunity to put capital to work. (economist.com)
- Private investors just can't get their hands on enough Airbnb shares. (ft.com)
Funds
- A new Senate bill would prevent the government's Thrift Savings Plan from investing in Chinese equities. (pionline.com)
- The SEC has cut back on enforcement actions but has been more successful of late targeting fund sales. (wsj.com)
Economy
- The prime-age employment-population ratio has reached levels not seen since 2007. (finance.yahoo.com)
- Still no sign of a sustained uptick in weekly initial unemployment claims. (calculatedriskblog.com)
- The bar to another Fed rate hike is pretty high at the moment. (finance.yahoo.com)
Earlier on Abnormal Returns
- Startup links: a new era in biology. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: comparing ourselves to others. (abnormalreturns.com)
- Moving forward in your own skin. (abnormalreturns.com)
