“Frugality is the new normal.”  (Big Picture)

“But a funny thing happened on the way to the new frugality…this advice was the exact opposite of what actually worked for the ensuing 6 month period!”  (The Reformed Broker)

“The market’s light has turned yellow. Don’t try to run it.”  (WSJ earlier Abnormal Returns)

What does this “casino-like” action mean for the broader market?  (Money & Co., Market Talk also Matthew Goldstein)

The two biggest risks to the stock market rally.  (The Pragmatic Capitalist)

Checking in on investor sentiment this week.  (Trader’s Narrative, The Technical Take)

“Take risk when you are paid to take it; avoid undercompensated risks.”  (Aleph Blog)

Some striking differences in sector SPDR performance since the March low.  (Afraid to Trade)

“AQR calls momentum investing an “undiscovered style” and a better complement to value investing than growth-oriented strategies.”  (Barron’s)

Cerberus hedge fund investors want out.  (WSJ, DealBook)

“A total of 396 [mutual] funds have been erased so far this year, compared with 438 in all of last year.”  (Morningstar)

“So maybe, in this post-Reserve Fund world, it’s time for the industry — and investors — to stop pretending that money funds are risk-free.”  (Joe Nocera)

The impact on the refining sector if Americans have permanently cut back on driving.  (Barron’s)

“No matter how many clever charts you come up with, or ridiculous justifications for the conclusions of your silly exercise in data-fitting.”  (Felix Salmon also The Money Game)

“Animal spirits” helped drive the economy lower and are now leading us back.  (NYTimes)

“The notion of a two-track economy seems to be taking hold.”  (Baseline Scenario)

Do presidential approval ratings follow the Dow?  (Atlantic Business)

Reviewing the Bernie Madoff books.  (WashingtonPost)

Why is the tech IPO pipeline so dry?  (GigaOM)

What are Twitter and Facebook worth?  (Howard Lindzon also A VC)

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