Book Review: Abnormal Returns- Winning Strategies From The Frontlines of the Investment Blogosphere – by Tadas Viskanta

Instead of reviewing some of my long-time investment favorites, most of which were published more than 20 years ago, I thought I would take a look something more contemporary.  Since we are just starting an investment blog, Mr. Vinkanta’s title caught my eye.  I was admittedly skeptical, because the title sounds a little too much like a get rich quick book.

“Never judge a book by its cover” –  Abnormal Returns is well written, concise, and thoughtful, summary of the current state of the investment world. The author ambitiously covers a wide variety of subjects.  Rather than just spouting opinions, he actually cites academic research.

I was particularly impressed with his chapter “Smarter Media Consumption”.

First, he gives me name to use for a phenomena I have noticed for 50 years.

Sturgeon Law – “90% of everything is crap”

More seriously, his section on “Noise” and “Going on a Media Diet”, are a must read for investors facing the information overload of the Internet era.

Even more important than any part of the book, is the trust I gained in the author’s approach to complex issues.  Over 30 years in the investment business have taught me to trust almost nobody.  I will be making a rare exception.

My trust was well rewarded.  As I finished the book I clicked to the Abnormal Returns blog and found an article on what I consider a extremely critical issue.  Without the book and the blog I would never have seen this article.

http://www.advisorone.com/2013/04/29/will-indexing-kill-the-market

Much more on this subject another time.

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