Quote of the day

Tom Brakke, “Manager risk often comes out of nowhere and can be very intense. That’s one of the unappreciated challenges of active management strategies that rely on others for their implementation.”  (research puzzle pix)

Chart of the day

10 Year Treasury Rate Chart

10 Year Treasury Rate data by YCharts

2012 was a year of record low Treasury yields.  (Bloomberg)


Why companies should once again embrace dividends.  (Jason Zweig)

Where do investors looking for a safe returns go these days?  (Learn Bonds)

Nice recap of the year in trending tickers.  (StockTwits Blog)

Where markets stand at week-end.  (Global Macro Monitor, ibid)

Fiscal cliff

On the prospects for a resolution to the fiscal cliff.  (A Dash of Insight)

Monday’s year-end trading should be pretty, pretty interesting.  (Quartz)


One trader’s process in six steps.  (Derek Hernquist)

Where one TAA model stands going into January.  (MarketSci Blog)


Is Apple ($AAPL) past its prime?  (SAI)

Why Microsoft ($MSFT) may be a ‘classic value trap.’  (Businessweek)

Amazon ($AMZN) Web Services could be the company’s biggest business.  (Telegraph, ibid)

Nook Media is attracting partners. (WSJ)


On the uncertain future of hedge funds’ 2 & 20.  (Breakingviews)

The downside of short-term bond funds.  (WSJ)

Personal finance

Go buy a house right now.  (Slate)

Income risk in private businesses is pretty darn risky.  (FRB via Big Picture)

What explains the investing anxiety of some women?  (HBR via BI)

Helaine Olen, author of Pound Foolish: Exposing the Dark Side of the Personal Finance Industry, thinks Americans have lost their financial minds.  (InvestmentNews)


The year in economics.  (Big Think)

Ben Bernanke needs Congress’ help.  (The Atlantic)

A look back at the economic week that was.  (Bonddad Blog, Calculated Risk)

The economic schedule for the coming week.  (Calculated Risk)

Earlier on Abnormal Returns

Top fifteen Twitter “must follows” for 2013.  (UpsideTrader)

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

Top clicks this week on the site.  (Abnormal Returns)

Mixed media

On the prospect for a more real, real-time social web.  (Bits)

I don’t want to download your app.  (Dan Newcome via @linkfest)

The fifteen best gadgets of 2012.  (Paste Magazine)

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