09/21/15 – Monday’s Interest-ing Reads

  • When a star fund manager leaves it can be a disaster if handled poorly. (bloombergview)
  • Another retail brokerage empire leveled into dust (Investment News)
  • A review of the hedge fund industry in transition. (papers.ssrn)
  • Factor models are not grounded in preferences. (noahpinionblog.blogspot)
  • Jesse Livermore: Everything you need to know about negative interest rates (Philosophical Economics)
  • Goldman Sachs ($GS) trades at 9x forward earnings. (blogs.wsj)
  • Risk tolerance is due in part biology and in part due to gender identity. (voxeu)
  • Insights on trend following models from the newly published “DIY Financial Advisor.” (awealthofcommonsense)
  • Smart Beta’s Takeover (ai-cio)
  • Closed-end bond funds are trading at steep discounts. (ft)
  • Does the Apple ($AAPL) News app have a chance? (slate)
  • Or maybe we should be calling them ‘Unterest Rates’ (CFA Interest Rate)
  • Why CEO comebacks are usually a disappointment. (newyorker)
  • Why it’s so hard for investors to distinguish between a bad strategy and a good strategy that’s temporarily out of favor (Abnormal Returns)
  • Why Google ($GOOG) should be worried about Amazon ($AMZN). (businessinsider)
  • A review on some recent research into private equity returns. (blogs.cfainstitute)
  • Can you replicate commodity exposure with commodity stocks? (blog.alphaarchitect)
  • How to wear a suit this fall (GQ)
  • Time to walk away from this Afghanistan shithole once and for all and let the animals kill each other. (New York Times)
  • Pluto ‘Wows’ in Spectacular New Backlit Panorama (nasa.gov)
  • Common portfolio constructions emphasize bonds to offset rare historical events. (thinknewfound)
  • Who’s Left to Sell U.S. Stocks? Mood Darkens Most Since Volcker (bloomberg)
  • Why you should expect the iPhone development cycle to accelerate. (aboveavalon)
  • Tax-managed equity funds are largely disappointing. (etf)
  • Margin debt, relative to the S&P 500, hasn’t moved much in 8 years (Seeking Alpha)
  • The Sharp Rise of the Upper-Middle Class, in 1 Chart (citylab)
  • Avoiding Stupidity is Easier than Seeking Brilliance (farnamstreetblog)
  • REITs and Utilities loved the idea of the Fed on pause. (capitalspectator)
  • Alibaba’s ($BABA) lockup has expired. (bloomberg)
  • Big Tech Has Become Way Too Powerful (nytimes)
  • These are the 20 largest hedge funds in the world (Business Insider)
  • Brett Steenbarger, “It is difficult to play to our cognitive strengths if we are not aware of them.” (forbes)
  • The stock market drops, stock correlations spike. (bloomberg)
  • Why does any non-HBO network even bother to show up at the Emmy’s? (Wall Street Journal)
  • The New Bond Market: Bigger, Riskier and More Fragile Than Ever (wsj)
  • What funds Morningstar ($MORN) has in its 401(k) plan. (news.morningstar)
  • How Rules on Financial Advisers Are Set to Get Tougher (wsj)
  • High yield bonds and bank loans are not the same thing. (blog.abglobal)
  • The evidence for the expectations hypothesis in interest rates is slim. (econbrowser)
  • What China can do to reverse its drain on foreign exchange reserves. (blogs.ft)
  • Jeff Sonnenfeld: Sorry, Carly Fiorina was an atrocious CEO (Politico)
  • The Rich Get Poorer: The Myth of Dynastic Wealth (papers.ssrn)
  • The QE uptrend is broken. (thereformedbroker)

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