Quote of the day

Jason Zweig, “You aren’t a baby boomer or a Generation X’er or a Gen Y’er. You are you - an individual, distinctive and unique, with a background and beliefs that no one else exactly shares. You aren’t a cohort.”  (Total Return)

Chart of the day

NYT Chart

 NYT data by YCharts

Reviewing the wreckage that is newspaper stocks.  (Deal Journal)

Markets

S&P 500 companies with a domestic focus are outperforming.  (Money Game)

The case for the US vs. the rest of the world.  (Doug Kass)

You can’t talk about supply without talking about DEMAND.  (Kid Dynamite)

What are people talking about when they talk about uncertainty?  (Big Picture)

Markets are awfully quiet.  (The Reformed Broker, The Real Fly)

Commodities

Jeremy Grantham, “I wouldn’t touch futures; it’s complicated and too unprofitable. Buy the guys who own stuff in the ground. Metal, oil, even natural gas, which is cheap now but will eventually pick up.”  (Money)

Hello, Brent Oil contango.  (FT Alphaville)

The degree to which the US is weaning itself off of Mideast oil imports is surprising.  (WSJ)

Why haven’t the “commodity currencies” fallen more?  (FT)

Strategy

ZL, “In trading, the opportunities to be wrong and to experience decision regret are almost unlimited.”  (The Zikomo Letter)

Hubris comes before the fall. How the lack of oversight oftentimes leads to underperformance.  (research puzzle pix)

Companies

How much is a broken-up News Corp. ($NWSA) worth?  (Dealbook, Breakingviews also WSJ)

The Surface announcement shows that Microsoft ($MSFT) still does not get it.  (Jeff Matthews)

How the iPhone changed the world.  (WSJSAI)

HFT

Is HFT good, bad or something different altogether?  (Points and Figures)

According to Mark Cuban, high frequency traders are the “ultimate hackers.”  (MarketBeat)

Almost half of Canadian stock trades are by high frequency traders.  (Globe and Mail)

Internalization of retail orders is far more widespread than commonly thought.  (NYTimes)

Finance

Barclays is the first of many banks to settle Libor claims.  (FT Alphaville, WSJ, Reuters, Dealbook)

Why the big banks won’t break up.  (Bloomberg)

What can we learn from 147 bank crises?  (Marketplace)

Why traders and investment bankers are fleeing the big banks.  (Dealbreaker)

Startups

Social, mobile or local: which will ultimately be the biggest business?  (Above the Crowd)

The cool kids don’t want to go public any more.  (Planet Money)

Social media in finance is coming of age. (GigaOM)

A look at 401(k) advisor Kivalia.  (Tradestreaming)

ETFs

Traditional bond indices overweight the most indebted countries. Does that make sense?  (IndexUniverse)

Five interesting ETFs launched in the past year.  (Morningstar)

Actively managed ETFs are coming to Europe.  (FT)

Global

How the Internet changed China.  (Pando Daily)

Norway is nursing a wicked housing bubble.  (The Atlantic)

Economy

Pending home sales are on the rise.  (Sober Look)

How housing will affect second half growth.  (Bonddad Blog)

Economic sentiment has diverged from reality on the ground.  (Value Plays)

Earlier on Abnormal Returns

It was five years ago today… (Abnormal Returns)

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

Mixed media

If you love some one set them free. On the value of “letting your ideas go.”  (HBR)

What do people do at home when they telecommute?  (Slate)

Finance should make for good thrillers according to James Conway author of The Last Trade.  (Speakeasy)

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