On the bookshelf: Megan McArdle’s The Up Side of Down: Why Failing Well is the Key to Success.

Quote of the day

Rick Ferri, “Success in one field does not entitle anyone to success in the financial markets, regardless of what Wall Street wants you to believe. If you are truly a superior investor, you’ll get out of the shark tank and put your money in a simple portfolio of index funds…”  (Rick Ferri)

Chart of the day

NASD_0214

Remember the Nasdaq peak in 2000?  (The Reformed Broker)

Markets

Bullish sentiment bounced back last week.  (Bespoke)

The weather will eventually turn. What it means for natural gas.  (Focus on Funds)

How “emergent phenomena” create market turns.  (Aleph Blog)

Have markets become too complacent?  (Surly Trader)

Mean reversion and the question of profit margins.  (A Dash of Insight)

Strategy

Why teamwork is a powerful trading tool.  (TraderFeed)

Seven things you need as a trader.  (Joe Fahmy)

On the difference between active and passive catalysts.  (Ivanhoff Cpaital)

Companies

How to buy a chunk of the Internet.  (Vitaliy Katsenelson)

How to think about Google ($GOOG).  (Benedict Evans)

Should PayPal be spun-off from eBay ($EBAY)?  (Pando Daily)

How Apple ($AAPL) was able to woo business.  (Business Insider)

Can Apple continue to hold the line on price?  (Asymco)

Problems at two companies Berkshire Hathaway ($BRKB) has a big stake.  (Doug Kass)

Hedge funds

Activist investors are all reading William N. Thorndike’s 2012 book The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success.  (MoneyBeat)

Hedge fund investors increasingly want separate accounts.  (FT)

Remember John Paulson? He had a pretty good 2013.  (CNBC)

Economy

Homebuilders are having a hard time finding workers.  (Business Insider)

A closer look at the housing slowdown.  (Bonddad Blog)

Earlier on Abnormal Returns

The ultimate Facebook ($FB)-WhatsApp linkfest.  (Abnormal Returns)

What you may have missed in our Wednesday linkfest.  (Abnormal Returns)

Mixed media

Success stories breed success.  (Priceonomics Blog)

How a decision journal can help your decision making.  (Farnam Street)

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