Review & Outlook

Our take on the investing, financial, & economic themes of the day

What We’re Reading: August 28

Quote of the Day: 

“Finance is taught overwhelmingly as a math-based field, in which students learn how to calculate beta by hand and dissect a balance sheet in their sleep. In the real world, finance is overwhelmingly a psychology-based field, where the best investors are those who control their emotions. This is rarely taught and never emphasized. And it’s why some of the world’s best investors have no formal finance training.” 

–Morgan Housel, in The Motley Fool

 

Thursday links: 

U.S. Stocks Slip on Ukraine Concerns (WSJ)

Finance is a Strange Industry (Motley Fool)

Lending Club can be Better than the Banks (BloombergView)

TD Bank Profit Jumps 38% (WSJ)

FBI Examining Whether Russia Is Tied to JPMorgan Hacking (Bloomberg)

Moving Past the Active vs. Passive Debate (Abnormal Returns)

The Art of Extracting Large Fees from Investors (Aleph Blog)

Fantasy Football, Stock Market Edition (NYT Magazine)

Four Traps Wrecking Your Retirement (MarketWatch)

Hollywood’s Big Money YouTube Hit Factory (Businessweek)

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Chart of the Day: 

Source: Bespoke Investment Group