Quote of the day

Barry Ritholtz, “An enormous difference exists between debating policy and managing assets. They are two radically different activities.”  (Big Picture)

Chart of the day

REITs are breaking out.  (The Reformed Broker)

Markets

One of these days investors will reallocate from bonds into stocks.  (TheStreet)

Sector performance in April.  (Bespoke)

Alan Greenspan thinks stocks are cheap.  (Bloomberg)

Why so many investors have turned off the market and financial media.  (Random Roger)

Strategy

Investing: the key is to survive.  (The Reformed Broker)

Ten insights from Abnormal Returns – The Book.  (Ivanhoff Capital)

What price ratio best identifies value stocks?  (Greenbackd)

The case for Saudi equities.  (Market Folly)

Trading

How to deal with trading discomfort: first acknowledge your pain.  (Brian Lund)

What is good risk management?  (OptionPit)

Why equity traders suck at trading forex. (RogueTraderette)

Companies

The Coca-Cola ($KO)-Monster Energy ($MNST) saga.  (WSJ)

Delta Airlines ($DAL) is getting into the refinery business.  (NYTimes)

An ‘ATM for old cellphones‘ is coming to a mall near you.  (Term Sheet)

IPOs

Don’t fret if you miss out on the Carlyle Group IPO.  (Globe and Mail also Term Sheet)

Why everyone wants a piece of the Facebook IPO.  (Businessweek)

Finance

Junk-rated companies are getting “showered with money” by banks.  (WSJ)

Deal making is in the air.  (The Reformed Broker)

Can the bond market make up for the lost liquidity of banks?  (WSJ)

Should we be worried about the growing influence of mortgage REITs?  (Bloomberg)

Floating rate Treasury notes are inching closer to reality.  (WSJ)

Funds

Three keys to cloning hedge funds.  (AlphaClone)

The actively managed PIMCO Global Advantage Inflation-Linked Bond Index ($ILB) is now live.  (ETFdb)

Economy

The ISM manufacturing report for April showed continued industrial strength.  (Calculated Risk, Real Time Economics, Bespoke)

US and European manufacturing is diverging.  (Sober Look)

The economy is “uninspiring, but not disastrous.”  (Economist’s View also Modeled Behavior)

Checking in on the new landlord economy.  (Money Game, Free exchange)

Banks are pulling back on their consumer lending.  (Term Sheet)

Americans are increasingly eating out.  (Calculated Risk)

Earlier on Abnormal Returns

@abnormalreturns was mentioned in this article on how to “Tweak your portfolio with tweets.”  (Financial Post)

Pull up a chair, the crowdfunding experiment is going to play out in real-time before our very eyes.  (Abnormal Returns)

What you missed in our Tuesday morning linkfest.  (Abnormal Returns)

Mixed media

Malcolm Gladwell on why college football should be banned.  (Slate)

Wikinvest becomes SigFig and goes wide.  (Pando Daily, TechCrunch, GigaOM)

Happy fifth anniversary!  (Bespoke)

Will your next car have an iPad in it?  (GigaOM)

Abnormal Returns is a founding member of the StockTwits Blog Network.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.