Monday links: life goals

Strategy

• Why novice investors need to 'take their lumps' before moving onto more sustainable strategies. (ferventfinance.com)
• Brett Steenbarger, "In short, there do seem to be edges in the marketplace, but they're not found by doing what the crowd is doing. The key is not playing the game better, but figuring out the right game to be playing." (traderfeed.blogspot.com)

Support

• Stay up-to-date with all of our posts: sign-up for our daily e-mail. (abnormalreturns.com)
• Love Abnormal Returns? Then like (and follow) us on Facebook. (facebook.com)

Crypto

• Can you mix Bitcoin with financial advice? (thereformedbroker.com)

Companies

• Twitter ($TWTR) needs to be bolder. (howardlindzon.com)

Finance

• The CME ($CME) is struggling to adapt to change in the global grain trade. (wsj.com)
• Regulators still don't have a clear look into the big banks' derivative books. (nytimes.com)
• The problem with private equity: C-suite compensation. (bloomberg.com)

Funds

• Blackrock ($BLK) is pushing hard into Europe. (ft.com)
• Why nobody wants liquid alts anymore. (ft.com)

Global

• Portugal went against the grain by eschewing austerity and it paid off. (nytimes.com)

Economy

• Optimism abounds on earnings conference calls of late. (avondaleam.com)
• The Chicago Fed National Activity Index showed above trend growth in June. (calculatedriskblog.com)
• US manufacturers are facing higher costs as slack disappears. (wsj.com)

Earlier on Abnormal Returns

• Adviser links: lottery losers. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• Top clicks last week on the site. (abnormalreturns.com)

Mixed media

• Loss aversion at work or why it stinks to be a sports fan. (bloomberg.com)
• We take more risk when we are competing against rivals. (hbr.org)