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Quote of the day

KD, “Newton’s Law of Trading Rules: Every lousy trading rule has an equal and opposite trading rule.”  (Kid Dynamite)

Chart of the day

The chart that saved Christmas: lower gasoline prices.  (Money Game)

Markets

Everyone is bearish for 2013.  (Joe Fahmy)

A look at where the major asset classes stand at the moment.  (Capital Spectator)

A big breadth push points towards a higher market.  (Quantifiable Edges)

The $VIX is showing very little in the way of fear.  (WSJ)

Boom and busts happen more often than you think.  (All Star Charts)

Strategy

Short-term traders are a dying breed.  (Zenpenny)

On the role of luck in trader performance.  (Adam Warner)

Using moving averages in asset allocation strategies.  (Turnkey Analyst)

How to profit from adaptation to global warming.  (Quartz)

Why index fund buyers are smart investors.  (Rick Ferri)

Companies

Why Starbucks ($SBUX) is making a concerted push into tea.  (Economist)

Is a sustained Research in Motion ($RIMM) rally possible?  (The Reformed Broker also Eric Jackson)

HP ($HPQ) would do well to take some lessons from IBM ($IBM) on an acquisitions strategy.  (YCharts Blog)

BP ($BP) stock is still a bit of a “toxic mess.”  (Fortune)

Technology

The bloom is off the consumer internet startup rose. (A VC also Howard Lindzon, Dave McClure)

Automation and 3-D printing are remaking the world of manufacturing.  (Economist)

Why don’t Android users using their phones more?  (Asymco)

Finance

December may go by with zero IPOs.  (WSJ)

Locked up hedge funds may soon become a little more liquid.  (FT)

Funds

How to build a low-cost ETF portfolio.  (IndexUniverse)

Bruce Berkowitz-managed funds have bounced back hard in 2012.  (Fortune)

Should yield hungry investors switch into bank loan funds?  (IndexUniverse)

Is Fidelity going to start pushing its sector funds?  (InvestmentNews)

Emerging market bonds

Is the rally in emerging market bonds done?  (beyondbrics)

Blackrock ($BLK) is diving into emerging market infrastructure bonds.  (FT)

Global

China is avoiding a hard landing, for now.  (Sober Look)

The UK hires a Canadian to run the Bank of England. (Gavyn Davies, Reuters, Real Time Economics)

How long can European bond yields remain low?  (Pragmatic Capitalism)

Economy

The Chicago Fed National Activity Index for October was sluggish.  (Calculated Risk, Capital Spectator)

Take talk about holiday weekend retail sales with a big grain of salt.  (WSJ, Daniel Gross, Curious Capitalist)

Warren Buffett is advocating a ‘minimum tax’ on the wealthy.  (NYTimes)

Just how big an effect do tax-advantaged savings plans have on savings?  (Debt Reckoning, Slate)

Mixed media

A positive review for Nassim Taleb’s Antifragile: Things That Gain From Disorder.  (The Daily Beast)

The best non-fiction books of the year including Jim Manzi’s Uncontrolled: The Surprising Payoff of Trial-and-Error for Business, Politics and Society.  (Arnold Kling)

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