Archive for September, 2009

• Wednesday links: free lunch facts
  abnormalreturns, September 30th, 2009 at 11:29 am, Comments: 0

  Looking back on just how bad things were in the stock market a year ago.  (Bespoke) No wonder insiders aren’t buying back their shares.  (The [...]

• Tuesday links: the risk culture
  abnormalreturns, September 29th, 2009 at 11:04 am, Comments: 0

  Is Salmon Brothers finally dead?  (WSJ) The Bloomberg Financial Conditions Index is back to normal.  (Trader’s Narrative) Heavily shorted stocks are leading the market.  (WSJ) [...]

• The risk culture returns
  abnormalreturns, September 29th, 2009 at 10:03 am, Comments: 0

  Just a year ago the Dow plunged 777 points in one day.  Who would have thought that a year later the risk culture would be [...]

• Monday links: fundamental design flaws
  abnormalreturns, September 28th, 2009 at 11:20 am, Comments: 0

  Earnings revisions are at a two-year high.  (Bespoke) Emerging market bond spreads have been halved YTD.  (EconomPic Data) Everyone thinks interest rates are going higher.  [...]

• Sunday links: plain vanilla plans
  abnormalreturns, September 27th, 2009 at 1:33 pm, Comments: 0

  “Rather than being anti-market, vanilla financial products would help correct very clear market failures that arise from imperfect information and high search costs. It is [...]

• Friday links: rush into bonds
  abnormalreturns, September 25th, 2009 at 12:10 pm, Comments: 0

  “The big rush into bonds — especially high-quality, low-risk bonds such as Treasuries and government-guaranteed mortgage securities — may have created a situation in which [...]

• The myth of the all-weather portfolio
  abnormalreturns, September 24th, 2009 at 1:44 pm, Comments: 0

  For quite some time now financial advisers of all stripes have been in search of the elusive “all-weather portfolio.”  That is, an asset allocation that [...]

• Thursday links: cheap to rich
  abnormalreturns, September 24th, 2009 at 11:14 am, Comments: 0

  Why aren’t individuals embracing equity mutual funds?  (Trader’s Narrative) Corporate bonds have gone from cheap to rich.  (EconomPic Data) Is the hot A123 Systems (AONE) [...]

• Wednesday links: hunger for yield
  abnormalreturns, September 23rd, 2009 at 10:59 am, Comments: 0

  “The average Fed day has ourperformed the average day by about 7.5 times.”  (Quantifiable Edges) AIG (AIG) stock has become a playground for day traders [...]

• Tuesday links: high yield bond barrage
  abnormalreturns, September 22nd, 2009 at 11:45 am, Comments: 0

  The appetite for high yield bonds is “ridiculous.”  (The Money Game also Felix Salmon) Global market capitalization bounces back in a big way.  (Bespoke) Hedge [...]