Quote of the day

Barry Ritholtz, “Market tops are long-drawn-out processes; bottoms are emotional, panic-filled events. Very, very few people can call either on a timely basis. You are not one of those people.”  (WashingtonPost)

Chart of the day

TNX_0413

About that inevitable rise in Treasury yields.  (Bespoke)

Markets

A change in market tone is now here.  (Dynamic Hedge, ibid)

What the heck is going on with the consumer staple stocks?  (Phil Pearlman also Barron’s)

Investors are buying stocks that look like bonds.  (Michael Santoli)

High yield vs. equities: which looks cheaper?  (Floyd Norris)

Should we fear a rollover in bond CEFs?  (McClellan FP)

Corn is oversold.  (Global Macro Monitor)

Strategy

Cash is not king.  (LearnBonds)

Whatever happened to the equity risk premium?  (Crossing Wall Street)

Time to start thinking about ‘Sell in May.’  (Mark Hulbert)

Alpha is a finite resource.  (The Reformed Broker)

Dividends don’t get the credit they deserve.  (Vitaliy Katsenelson)

You cannot separate expertise from environment.  (the research puzzle)

Research

A look at absolute momentum strategies.  (SSRN)

Do valuations help in market timing?  (Turnkey Analyst)

Companies

How big is Verizon Wireless on a a standalone basis?  (Barron’s)

Picking apart the Loews ($L) annual report.  (The Brooklyn Investor)

Finance

Electronic trading is “muscling in” on corporate debt.  (FT)

Private equity wants in on your 401(k).  (Bloomberg earlier Abnormal Returns)

Tail risk hedge funds have lost favor with investors.  (Reuters, Dealbreaker)

The JOBS Act has been a bust.  (Quartz, Businessweek)

Intrade has a shortfall and will liquidate.  (Rajiv Sethi, Business Insider)

Funds

Why is the Pimco Total Return ETF ($BOND) outperforming its open-end cousin?  (Jason Zweig)

All the cool kids are opening hedge fund-lite mutual funds.  (Clusterstock)

What fund managers don’t want to see when meeting management.  (Barron’s)

Index fund performance gets better with age.  (Rick Ferri)

Japan

The surprise that is Abenomics.  (Noahpinion)

Low global interest rates, especially in Japan, are still a puzzle.  (Free exchange, LearnBonds)

Japanese investors are warming to equities.  (WSJ)

Africa

Africa’s equity markets are booming.  (Economist contra

A closer look at the Global X Nigeria ETF ($NGE).  (Barron’s)

Economy

What the Fed might think about the March jobs report.  (Tim Duy, RTE, Bonddad Blog)

Rail traffic was mixed in March.  (Calculated Risk)

A look back at the week in economic stats.  (Bonddad Blog, Calculated Risk)

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

Earlier on Abnormal Returns

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

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

Aggregation

How news aggregators affect click through rates.  (SSRN)

What’s BI going to do with Jeff Bezos’ money?  (Felix Salmon)

Mixed media

It’s hard to change people’s minds about fundamental things.  (Falkenblog)

Why technology predictions so often go wrong.  (Chris Dixon)

Fake Twitter followers are a big business.  (Bits)

Why baseball tickets should be priced like airline seats.  (HBR)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

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.