Quote of the day

Mark Quinn, “When we find ourselves wishing we had more in the market on the way up and less in the market on the way down, we are only being human.  Further, unless we have all or none of our money in stocks, that we have those wishes tells us we are doing something right in our investing approach.”  (Mighty Quinn)

Chart of the day

The run in Tesla ($TSLA) has been quite remarkable.  (Charts etc.)

Markets

It’s hard to keep anything with yield down.  (Bespoke)

Where is the volatility?   (SurlyTrader, MoneyBeat)

Bullish sentiment is on the rise.  (Bespoke)

Defensive sectors are losing steam.  (StockCharts Blog)

Strategy

It’s one thing to be wrong, it’s another thing to stay wrong.  (Big Picture)

When’s the last time you heard a company management about ‘Tobin’s Q‘?  (A Dash of Insight)

Why it doesn’t pay to bet against human ingenuity over the long run.  (Pragmatic Capitalism)

How to make the transition to full-time trader.  (Brian Lund)

It is time to kick ‘stop loss orders‘ to the curb?  (Marketwatch)

Companies

AOL’s ($AOL) stock is outperforming its actual business.  (The Atlantic)

Buy Tesla ($TSLA) for a play on environmental tax credits.  (FT Alphaville)

CEOs are having a hard time putting capital to work.  (Unexpected Returns)

Hedge funds

Hedge funds are pretty leveraged.  (aiCIO)

David Einhorn: do your own homework.  (Reuters)

Why do old hedge fund guys hate Ben Bernanke?  (Money Game)

Notes from the 2013 Ira Sohn Conference.  (Market Folly, The Reformed Broker, WSJ)

Will hedge funds figure out how to sell to the mutual fund clientele?  (II Alpha)

Finance

Shocking: the banks are pushing back against tighter regulations.  (WSJ)

What is behind the huge run in WisdomTree Investments ($WETF)?  (IndexUniverse)

Global

Eurozone trade imbalances are moving in the right direction, just not for the right reasons.  (Gavyn Davies)

Something (still) has to give with the Euro.  (Capital Spectator)

Economy

Another decent weekly initial jobless claims report points to a better employment scene.  (Calculated Risk, Quartz)

Today all employment trends are moving in the right direction.  (ValuePlays)

Putting the stock market into perspective. (Econbrowser, Fatas & Mihov)

The Rust Belt is leading the US manufacturing revival.  (FT)

Mixed media

Satire alert: Everyone Who Started Watching ‘Mad Money’ In 2005 Now Billionaires. (The Onion)

The Tesla Model S is the best scoring car ever at Consumer Reports.  (Jalopnik)

Advice from an economist for a young graduate if they don’t have an obvious passion to follow.  (NPR)

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