Off Topic

Weekend Reads: King Dollar

Managed futures inflows continue in April – (CTA Intelligence)

The Top 10 Managed Futures Performers of April – (Attain Alternatives Blog)

King Dollar/Crude attempting short-term trend changes – (Kimble Charting)

The Texan economy — Not quite so sunny – (The Economist)

California OKs offer of voluntary water cuts by farmers – (Associated Press)

Just For Fun:

The Financial Perks of Being Tall – (The Atlantic)

De Blasio proposes a landlord-friendly tax tweak – (New York Daily)

Minimum Wages – (The Economist)

LA’s New Minimum Wage Isn’t Worth Anywhere Close To $15 – (Five Thirty Eight)

How Do You Motivate Kids To Stop Skipping School? –(NPR)

Weekend Reads: Chicago Time Lapse and The Death of Honeybees

Why Wall Street investors and Chinese firms are buying farmland all over the world – (VOX)

Harvard Pay for Top Money Managers Rose 50% to $49.3 Million – (Bloomberg)

Huge Returns at Low Risk? Not So Fast – (Wall Street Journal)

Investing anxiety? Think: What would Buffett do? — (CNBC)

The Incredible Shrinking Alpha – What Was Once Alpha Is Now (Five-)Factor Beta? – (Nerd’s Eye View)

Facebook Courts News Giants Into A Deal To Share Viewers, And Revenues – (NPR)

ICE’s Jeffrey Sprecher Has Built a Global Trading Powerhouse – (Institutional Investor)

Just for Fun:

Chicago Time Lapse Project – (Max Wilson)

Getting a grip – (The Economist)

Over 40% of US honeybee colonies died off in the last year – (Quartz)

Chinese Hackers Force Penn State to Unplug Engineering Computers – (Bloomberg)

How Data Nerds Found A 131-Year-Old Sunken Treasure – (Five Thirty Eight)

Truth and Lies in Alternative Investments

Alternative Links: Bomb Bonds


Bond Market Meltdown Deconstructed: Five Charts That Explain Why – (Bloomberg)

Long Crude Oil and Short Bonds? – (All Star Charts)

Cliff Asness: Investing Amid Dearth Of Value In Equities & Bonds – (Value Walk)

(Not really bonds) Moody’s cuts Chicago’s credit rating to junk – (Crains Chicago)

Managed Futures:

Managed Futures/CTA Strategies Show Favourable Performance and Liquidity Terms for Investors – (Preqin)

CTAs: Equity Hedge, Crisis Alpha, Long Volatility – True or False? – (Top Traders Unplugged)

Attain Funds April Performance – (Attain Alternatives Blog)


Commodity markets wary of false alarm as El Niño blows back – (FT)

Every date this week is a palindrome – (Mashable)

Castleton joins oil trade titans with Morgan Stanley deal – (Reuters)

Weekend Reads: FitBit, the Drought, and Tom Brady

Reverse speed — Bond yields are suddenly rising – (The Economist)

Fitbit Nearly Tripled Revenue Last Year, Files for IPO – (re code)

To be 4.7 Exempt or Not To Be, That is the Question – (Attain Alternatives Blog)

Where’s The Beef? – (Five Thirty Eight)

Interactive – The Drought – (Associated Press)

Heimdal, North Dakota, Evacuated After Fiery Oil Train Crash – (NBC News)

Just For Fun:

There’s an Uber for Everything – (Wall Street Journal)

Stephen Colbert saves the day with a $800,000 grant for South Carolina Public schools – (Salon)

Jon Stewart Takes On Ballghazi: “Tommy … You Cheating ****” – (DeadSpin)

CTAs: 5 Reasons to Take on AQR

There’s a whole big world out there not talking about financial markets and different ways to access them all day. Whether we’re reading the Oatmeal or watching a John Oliver clip, it’s good to take a break every now and then. And yet, even when you’re taking a break, you sometimes get dragged right back into your world (in a good way).

Case and point today, the following post from Alex Turnball, CEO of Groove, talking about not being afraid of competing against goliaths. He could have just as easily been talking about not being afraid to compete with Winton or AQR or Pimco, or outlining why investors don’t need to be afraid to look outside of those goliath boxes.

Enjoy the full post here, or are abridged version below:

5 Reasons To Avoid Going Up Against Goliath

1) Goliath has more money than you

“If only we had a million bucks, we could…”

2) Goliath has a bigger team than you

To Goliath, another team member is a drop in the bucket.

3) Goliath is more well-known than you

They own whatever you do in the market’s mind. When they think[Goliath].

4) Goliath has more recruiting power than you

Goliath’s Office



5) Goliath is more comfortable than you

They’re coasting. They have years of runway, safe recurring revenue, a strong brand and customers for life. They have nothing to worry about today.

You’re wondering if you’ll make it through the week. For some, that kind of pressure brings out the best. For others, it’s what brings them crashing down.

Five Reasons You Can Still Kick Goliath’s Ass

1) Goliath leaves a lot of customers behind

Goliath was once a startup, focused on building the best damn product in the industry. Then they got traction. Then they grew big. Then they built out a sales force, and an executive suite, and other expensive things.

They had to pay for these, and simply bringing in new customers wasn’t going to cut it. So they focused on growing the product. Adding features, ancillary products and bundles that they could upsell customers on in order to increase their average revenue per user. The product got bloated, and they stopped focusing on the core product that they launched with. It’s no longer the best.

A lot of customers, especially smaller ones, see that, and don’t like the new direction.They feel left behind, and they want a better solution, like the one Goliath was before they became Goliath.

2) Goliath doesn’t do things that don’t scale

do things that don’t scale. Things that your larger competitors aren’t able – or willing – to do. You, the founder, can spend time talking to every single customer to ensure that what you’re building is exactly what people want.

3) Goliath isn’t as nimble as you

Need to make a change to your strategy? You can make that change (or start making that change) today.

Goliath can’t. They have tedious processes and a corporate culture that disincentivizes rocking the boat.

4) Goliath can’t screw up

For an established company in the public eye, a screwup is a huge disaster. An outage? A lawsuit? A security breach?

But for you, the startup? You’ve spent countless hours building one-on-one relationships with your customers. They know you personally. They trust you. And they recognize that you’re the little guy. They want you to win.

A screwup is bad, for sure. But your customers will forgive you and forget about it a lot faster and more easily than Goliath’s customers.

5) Goliath can’t recruit the hungry ones

Yes, Goliath has more money and perks. But they can’t feed the hunger.

That hunger for being scrappy? For building something from nothing? For fearlessly walking into the same room as Goliath, and knowing that you’re going to kick their ass – and change your life in the process – or die trying?

Doesn’t Work For Goliath

David Image

To read the full article, click here.