Quote of the day

Binyamin Applebaum, “He [Joe Weisenthal] is like the host of a daylong radio show, except no one speaks out loud. He rarely makes phone calls. His phone almost never rings.”  (NYTimes)

Chart of the day

The big spread in market drawdowns around the globe.  (Bespoke)


Making the case that risk-on assets are tracing out a bottom.  (Market Anthropology)

Stocks have had some tough competition these past three decades.  (EconomPic Data)

Bearish sentiment is back.  (Pragmatic Capitalism, Horan Capital)

Three reasons this isn’t a major correction.  (Covestor)

Where has all the trading volume gone?  (Businessweek also Investing With Options)

Gold is now trading like a risky asset.  (MarketBeat)

The CRB as stress indicator.  (Sober Look)

Five things you need to understand about muni bonds.  (LearnBonds)


Do ValueInvestingClub.com ideas still work?  (Turnkey Analyst)

What makes a great stock analyst?  (WSJ)

How much is there in John Mauldin’s Little Book of Bull’s Eye Investing. (Aleph Blog)

Discretion over buy-and-sell decisions in aggregate can turn a model that generates a market beating return into a sub-par return.”  (Greenbackd)

Presentation notes

Notes from the Eugene Fama talk at CFA 2012.  (Above the Market)

In case you missed on the StockTwits presentation at Harvard.  (TraderHabits)


Lower demand+higher costs=trouble for the mining sector.  (FT)

What might a break up of Dole Food ($DOLE) look like?  (Bloomberg)

Do investors hate Electronic Arts ($EA) a tad too much?  (Vitaliy Katsenelson)

Did you know troubled Chesapeake Energy ($CHK) has an affiliated MLP, Chesapeake Midstream ($CHKM)?  (MarketBeat)


Traders are using GSV Capital ($GSVC) as a proxy for Facebook shares.  (Sober Look)

The circle of life in Silicon Valley: the case of Facebook.  (NYTimes)

Is Google ($GOOG) a value stock?  (Crossing Wall Street)

Is it possible to substitute Bing for Google for search and live to tell about it?  (Slate)

The rise of smartphones is truly stunning.  (Technology Review)


Cantor Fitzgerald’s big bet on sports betting in Las Vegas.  (Bloomberg)

How could we make the TBTF banks more manageable. (Economix)

Paul Singer of Elliott Management on his most important attribute as an investor: “existential humility.”  (Dealbook)


How crowdfunding affects VCs and banks.  (GigaOM, EuroMoney)

What is the current state of crowdfunding?  (TechCrunch)


Behind every ETF there is a person.  (Ari Weinberg)

ETF investors do you know what benchmark your fund tracks?  (WSJ)

The new lowest cost MLP ETF.  (ETFdb)


Weekly initial unemployment claims came in at expectations.  (Calculated Risk, Capital Spectator)

What the JOLTS data is saying about employment growth.  (Bonddad Blog)

Just how big are the world’s “shadow economies.”  (voxEU also FT Alphaville)

Earlier on Abnormal Returns

Becoming an A-list finance blogger is no easy feat.  (Abnormal Returns)

Part 2 of my discussion about the book with Jared Woodard.  (Condor Options)

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

Mixed media

Blogging to learn.  (Chris Dixon)

How exercise affects brainpower.  (Well)

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