Quote of the day
Jeff Matthews on the dilemma in exposing corporate fraud: “Upside to doing the right thing by going public? Zero. Downside? Financial ruin.” (Jeff Matthews Is Not Making This Up)
Chart of the day
Global leading economic indicators have not rolled over yet. (Gavyn Davies)
Video of the day
Part 2 of the Consuelo Mack interview with Bill Miller and Paul McCulley. (Wealthtrack)
Strip of the day
Dilbert on momentum investing. (Dilbert via Frank Voisin)
Markets
Your market road map for the rest of the Spring. (The Reformed Broker)
Keep an eye on the transport stocks. (Trade With Pete)
The US dollar is setting up to move higher no matter who is elected President. (Market Anthropology)
Real yields are wicked low. What they do next will tell us a lot. (research puzzle pix)
Don’t blame China for recent weakness. (VIX and More)
Strategy
How do you become a better trader? Get a mentor. (Brian Lund)
You can’t trade VIX ETPs without stops. (MarketSci Blog)
The search for investing talent is time consuming and expensive. (Capital Spectator)
How an aging population puts pressure on equities as an asset class. (Sober Look)
Financial advisers are bad for your wealth: discuss. (Betterment contra The Reformed Broker)
Companies
IBM ($IBM) vs. Microsoft ($MSFT): lessons in investing. (Crossing Wall Street)
Why has Mark Cuban invested in a purported “patent troll”? (Forbes, Clusterstock)
Bill Ackman continues to push for change at Canadian Pacific ($CP). (Globe and Mail)
Finance
The JOBS Act is a “complete game changer.” Why aren’t more people talking about it? (Distressed Debt Investing)
Is hedging today getting too smart for its own good? (FT Alphaville)
Corporate bond trading volume “slows to a crawl.” (Income Investing)
Retail forex volume is surging. (WSJ)
Do jubilee shares make sense? (Felix Salmon)
Alternative assets
Investors have been disappointed by commodity index returns, what next? (FT)
Comparing private equity and venture capital returns. (Verisi Data Studio)
Will Norway’s SWF investing model translate into hedge fund success? Julian Robertson thinks so. (FT)
Mutual funds
Some interesting mutual fund tidbits. (Morningstar)
Taxes on mutual funds are a mess. (Chuck Jaffe)
ETFs
The Nasdaq is trying to pump up interest in its ETF listings. (Ari Weinberg)
What to make of the slew of new high yield ETFs. (Roger Nusbaum)
Is a true frontier market ETF even investable? (IndexUniverse)
Global
Spain is getting pushed to the brink by austerity. (FT, Money Game)
Foreign investors own a major of Australian government debt. (Macro Business)
Is it finally Vietnam’s time to shine? (beyondbrics)
Economy
Retail sales popped in March. (Calculated Risk, Capital Spectator)
Residential remodeling continues to grow. (Calculated Risk)
Housing is not an investment. (Pragmatic Capitalism, All Star Charts)
The future
Everyone continues to debate the financial crisis: the future of America is bright and lies elsewhere. (Big Picture)
It’s tough to see from the coasts but good stuff is happening in the Midwest. (Points and Figures)
Why don’t we make computer programming a high school requirement. (Brad Feld)
Once known for horse racing, Saratoga, NY has become a high tech hub. (Economist)
Earlier on Abnormal Returns
I highlighted “7 investment sites you should be reading” as guest curator over at the UK-based The Financialist. (Mindful Money)
What you missed in our Monday morning linkfest. (Abnormal Returns)
Mixed media
A look at the bull market in chicken thighs. (WSJ)
The perils of paying for status. (Scientific American)
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