Review & Outlook

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

What We’re Reading: August 4

Quote of the Day: 

“Hedge funds have underperformed their broader benchmarks for one-, five- and 10-year periods. … These imitation hedge funds have underperformed the benchmark, namely, the hedge-fund index, which itself has underperformed the broader market. Perhaps we could call these new imitators ‘underperformers squared’ or U2.” 

— Barry Ritholtz on the Big Picture Blog/Bloomberg View

 

Monday links: 

Global Markets Stabilize After Last Week’s Market Sell-off (WSJ)

Can ETFs be Derailed? (Barron’s)

Technical Analysis Suggests Large Cap Stocks Look Attractive (Reformed Broker)

We Are All Factor Investors (Patrick O’Shaughnessy)

The Vanguard Paradox (Barron’s)

Will EMC Spin-off its fast-growing VM Ware business? (Barron’s)

Mutual Funds that Imitate Hedge Funds are a Terrible Idea (The Big Picture)

Advisers Weigh the Impact of New Money-Fund Rules (WSJ)

Amgen (AMGN) Blood Cancer Drug Succeeds in Late-Stage Study (Reuters)

Evercore (EVR) Acquire ISI Equity Research and Trading (WSJ)

 

Chart of the Day: 

Screen Shot 2014-08-04 at 8.59.13 AM

Source: Reformed Broker