This is an early and less than complete edition of the linkfest. We will catch up tomorrow.

Quote of the day

Jeff Miller, “The news flow is a trap for the average investor, who is tempted to buy high and sell low.”  (A Dash of Insight)

Chart of the day

EEM Total Return Price data by YCharts

Eight reasons why the emerging markets have lagged.  (Buttonwood)

Video of the day

A discussion with Ben Inker of GMO on asset allocation.  (Wealthtrack)

Markets

What the Treasury bond market is telling us.  (All Star Charts)

John Authers, “When the top-down world ends, the opportunity for stockpickers will be immense, and “quality” stocks could correct quickly.”  (FT)

European indices are looking saggy.  (chessNwine)

Strategy

What can an investor do if 10-year forecast returns are low?  (Humble Student of the Markets)

Is it time to shift to fundamental indices?  (Globe and Mail)

Can you still become a quant in your 30s?  (Climateer Investing)

Why investing in gold is tough.  (Rick Ferri)

Why investors end up with portfolios with too much gold and Apple.  (Chuck Jaffe)

Companies

How Apple’s ($AAPL) weakness is affecting its suppliers.  (Reuters)

What Caterpillar ($CAT) and GE ($GE) earnings say about the global industrial economy.  (RiskReversal)

Finance

Would wider tick sizes revive the small cap research market?  (Traders Magazine)

Money is coming out of money market mutual funds. Where is it going?  (Sober Look)

The financial services industry is struggling to get its hands around social media.  (WSJ)

Seemingly everybody wants to be a REIT these days.  (NYTimes)

How hedge funds need to adapt.  (All About Alpha)

Global

Why the BRICs have lagged so badly of late.  (beyondbrics)

Phosphate is the new potash.  (Globe and Mail)

Economy

The Chicago Fed National Activity Index slowed in March.  (Capital Spectator)

Inflation expectations, via TIPS breakevens, are falling again.  (research puzzle pix. The Short Side of Long)

Investors are pushing around the single family home market.  (Calculated Risk, Washington Post, Bloomberg)

The downside of the Fed’s dual mandate.  (Tim Duy)

On the growth of the “off the books” economy.  (New Yorker)

Mixed media

Why social media shouldn’t push the MSM around.  (Felix Salmon)

Twitter is putting on a comedy festival.  (NYTimes)

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