11/07/17 – Tuesday’s Interest-ing Reads

  • Hopping from one TAA strategy to another, based on relative strength, shockingly doesn’t work. (allocatesmartly)
  • Nationwide has entered the exchange-traded funds market with three smart beta offerings. (citywireusa)
  • If you think Panama is bad, wait until you hear about Delaware (qz)
  • Morgan Housel at the Collaborative Fund included Abnormal Returns on this list of What I Read (And Why). (collaborativefund)
  • You should only pay high fees for high active share. (blog.thinknewfound)
  • Apple ($AAPL) should buy Netflix ($NFLX). (bloomberg)
  • Hedge funds and managed futures have very different correlation profiles. (mrzepczynski.blogspot)
  • Five takeaways from the anomalies research. (blogs.wsj)
  • The government wants to stop supporting your farmers market (qz)
  • ETF Heyday Is No Bonanza for Wall Street (wsj)
  • A Broadcom ($AVGO)-Qualcomm ($QCOM) would be a BFD. (nytimes)
  • Some charts that demonstrate how quickly the world is changing. (thereformedbroker)
  • ‘Rockefeller. I want that name out there again and again’ (Financial Times)
  • How The Right Decisions And Compounding Can Lead to Huge Results (Of Dollars and Data)
  • Hedge funds with the most differentiated strategies did NOT outperform. (institutionalinvestor)
  • Greggy says the Russell 2k is poised for a big move (Dragonfly Capital)
  • Three trends that will affect the future of Bitcoin. (bloomberg)
  • Franklin Templeton Investments ($BEN) is introducing its first passive ETFs, 16 single country and regional market-cap weighted ETFs. (citywireusa)
  • The Nikkei hits a 25 year high (Zero Hedge)
  • The markets are running out of dumb money to exploit. (priceactionlab)
  • Millennials are going to become a home buying force. (seeitmarket)
  • Apple’s Secret Offshore Island Hop Revealed By Paradise Papers Leak (icij)
  • Jeremy Grantham Predicted Two Previous Bubbles. And Now? (wsj)
  • Does China’s new policy regime threaten the global upswing? (ft)
  • Seth Godin, "The secret to writing a daily blog is to write every day. And to queue it up and blog it. There is no other secret." (sethgodin.typepad)
  • Here’s a guide to the major revelations in the Paradise Papers (qz)
  • The Ivy League endowments badly underperformed a 60/40 portfolio last year. (markovprocesses)
  • One of the biggest advantages ETFs have is avoiding large capital gains distributions. (beta.morningstar)
  • Broadcom offers $105 billion to buy Qualcomm (DealBook)
  • Carter Page’s testimony is filled with bombshells — and supports key portions of the Steele dossier (Business Insider)
  • Ready or Not, Recreational Marijuana Use Is Coming to Canada (nytimes)
  • 12 Questions for Big Tech (l2inc)
  • Me and Jason Zweig talk Buffett and Bitcoin (CNBC.com)
  • Currently, a well-diversified portfolio largely shuns domestic equities. (researchaffiliates)
  • Earth-sized alien worlds are out there. Now, astronomers are figuring out how to detect life on them (sciencemag)
  • If standard deviation is a poor proxy for the risk of an investment, what’s a better option? (portfoliocharts)
  • Why multi-factor portfolios perform better. (factorresearch)
  • Rivals Intel and AMD Team Up on PC Chips to Battle Nvidia (Wall Street Journal)
  • Saudi Arabia’s government purge — and how Washington corruption enabled it (theintercept)
  • The SEC is looking to streamline the ETF approval process. (bloomberg)
  • Alwaleed, Caught in Saudi Purge, Has Assets Across the World (Bloomberg)
  • How to build asset class forecasts. (researchaffiliates)
  • Notes from the 9th annual Invest For Kids Chicago conference. (marketfolly)
  • The Great Bond Bull Market May Be Coming to an End (Bloomberg)
  • People who change jobs get paid more. (money.cnn)
  • Amazon ($AMZN) should buy Spotify. (howardlindzon)
  • 21st Century Fox in talks to sell most of its assets to Disney! (CNBC.com)
  • Agri-hoods are the new golf course communities. (finance.yahoo)
  • Can Fund Manager Bill Miller Use Earthquakes to Predict the Market? (blogs.wsj)
  • Leo Melamed things Bitcoin is an asset class not a crypto-currency. (reuters)
  • What I Learned From Three Weeks Watching Fox News Nonstop (slate)
  • The N.F.L.’s Most Valuable Player Might Be … a Punter?&#xA0 (nytimes)
  • How to measure ETF spreads. (wsj)
  • Oil hits two-and-a-half year peak on Saudi purge, world shares retreat (Reuters)
  • Assets in short volatility ETPs is surging. (bloomberg)
  • Abnormal Returns ended up #21 on FeedSpot’s list of the top 75 trading blogs. (blog.feedspot)
  • 6 Things That Made Me Laugh at EBI East (A Wealth Of Common Sense)
  • Do factor loadings or firm characteristics better explain portfolio returns? (alphaarchitect)
  • "Bitcoins lack the essential qualities to make it a viable medium of exchange and store of value." (macro-ops)
  • Active managers are now rushing to launch ETFs in the UK. (ft)
  • "Liar loans" are passe, but now we’re seeing "black box appraisals" (modbee)
  • Hopping from one TAA strategy to another, shockingly doesn’t work. (allocatesmartly)
  • The economics of PIPEs. (papers.ssrn)
  • History has warnings for ICO investors. (bloomberg)
  • Six ways Amazon ($AMZN) could bet into the pharmaceutical business. (bloomberg)
  • Of course, cryptocurrencies are in a bubble. (bloomberg)
  • Americans now Google ‘buy Bitcoin’ than they do ‘buy Gold.’ (fortune)
  • Bitcoin is a energy hog. (newscientist)
  • Apple’s secret tax bolthole revealed (bbc)
  • The Most Hated Rally in Wall Street History (ritholtz)
  • The Reverse Cap Weighted US Large Cap ETF ($RVRS) looks to flip the script. (marketwatch)
  • Amazon Push Into Private-Label Sportswear Makes Quiet Debut (Bloomberg)
  • Broker wins $3 million from UBS for defaming him to his clients (Tampa Bay Biz Journal)
  • More evidence that time-series momentum works. (etf)
  • The National Association of Home Builders index still shows growth. (calculatedriskblog)
  •  ETFs Are the New Bond Kings (bloomberg)
  • Some early thoughts on the iPhone X. (kottke)
  • Bridgewater – impossible to run a firm and stop your employees from hooking up (Wall Street Journal)
  • see The first evidence of planets around another star was found in … 1917? (syfy)
  • Why is the S&P 500’s multiple screaming higher? Read this anecdote: (Axios)
  • The ETF price war rolls on in junk bonds and country funds. (ft)
  • Why Bitcoin’s energy use is largely a waste. (ft)
  • WSJ lands the amazing Gretchen Morgenson (Dow Jones)
  • The Presidential election cycle is pretty much bunk. (wsj)
  • How a Bitcoin ETF could change things. (thereformedbroker)
  • What happens if you only buy when the market is ‘cheap’? (awealthofcommonsense)
  • How certain factors affect corporate bond returns. (etf)
  • Do analysts fully adjust for seasonality in earnings? (alphaarchitect)
  • Forbes: Wilbur Ross is a fake billionaire (Forbes)
  • You knew it was coming…a filing for a blockchain-focused ETF. (etf)
  • Finding Art: James Gubb’s stock price protest poetry breaks boundaries. JSE disagrees. (dailymaverick.co.za)
  •  The Marijuana Machine Rolls Ahead (bloomberg)
  • The argument against hedge funds is pretty straightforward. (marketwatch)
  • A Bull Market Should Make Investors Happy. This One Isn’t. (nytimes)
  • How to impress recruiters when you are unemployed. (fastcompany)
  • The six sins of smart beta. (allaboutalpha)
  • Actors say rude audiences are destroying Broadway (nypost)
  • Tax haven secrets of ultra-rich exposed (bbc)
  • Hedge funds are having their best year since 2013. (bloomberg)
  • A look underneath the hood of a leveraged ETP. (etf)
  • How to work with a manipulative person. (hbr)
  • Highlights from the 2nd annual Evidence-Based Investing Conference. (peterlazaroff)
  • Richard Bernstein, "You cannot invest successfully..when you are crouched under your desk in a fetal position." (nytimes)
  • What is Apple’s ($AAPL) durable advantage? (stratechery)

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