Ritholtz's Reads: Pay No Attention to Stock Advisers

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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Did Janet Yellen say something new yesterday? I wasn’t paying attention. Oh, and our morning train reads:

• The Worst Mutual Fund in the World (Fund Reference)

• Advisers’ Stock Recommendations Drag Down Clients’ Portfolios, Study Finds (WSJbut see How Financial Advisers Can Help Close the Behavior Gap (CFA Institute)

• Grantham: Ten Topics to Ruin Your Summer (GMO)

• Fed Preps Careful Path for Rate Hike: September move remains on table, but inflation remains a concern (WSJ)

• An encouraging historical parallel to China’s stock bubble? (FT Alphavillebut see China’s Great Short Seller Suddenly Turns Bullish (Bloomberg)

• The Case for Jack Dorsey, Twitter CEO (Stratechery)

• True Gold Bugs Care About Its Value, Not Its Price (Bloomberg Viewbut see Two reasons why gold may plunge to $350 an ounce (Marketwatch)

• Uber’s Phantom Cabs (Motherboard)

• Donald Trump Is the Nickelback Of GOP Candidates (FiveThirtyEight)

• Deal with it — Tom Brady and the Patriots are cheaters (Boston Globe)

What are you reading?

Percent of Companies Beating Earnings Estimates by Quarter: 1998-Present

Source: Bespoke Investment Group

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author on this story:
Barry L Ritholtz at britholtz3@bloomberg.net

To contact the editor on this story:
James Greiff at jgreiff@bloomberg.net