Quote of the day

Roger Nusbaum, “How many great investors do you know of who attribute their success to being impatient?”  (Random Roger)

Chart of the day

XHB Total Return Price Chart

XHB Total Return Price data by YCharts

Homebuilder stocks have lost momentum.  (Sober Look)

Video of the day

John Rekenthaler on what current fund themes are investment fads.  (Morningstar)


Investors still scared of hate the stock market.  (InvestmentNews, Joe Fahmy, Charts etc.)

Three signs of a market top.  (Mark Hulbert)

Comparing the “to-maturity” bonds funds.  (Learn Bonds)


A succinct summary of Carl Richard’s views on investing.  (IndexUniverse)

On the high costs of leverage.  (aiCIO via @researchpuzzler)

Sources of momentum in bond returns.  (SSRN)

The plan you need before you ever trade.  (StockCharts Blog)


What Marissa Mayer needs to do next to really turnaround Yahoo! ($YHOO).  (Pando Daily, WSJ)

Jeff Bezos just doesn’t seem to be motivated by profits at Amazon ($AMZN).  (Slate, Quartz)

SAC Capital

Jason Zweig, “Sophisticated” institutional investors still insist on believing in a Tooth Fairy that can somehow miraculously provide market-beating returns for everyone. Maybe that is the biggest crime of all.”  (WSJ)

The trading playing field was never level and never will be.  (Reuters, Institutional Imperative)

SAC investors may be facing clawbacks.  (TSF)

The decision facing SAC investors.  (Turnkey Analyst)

SAC Capital is a “cash cow” for Wall Street providers.  (Dealbook)


Finally some one who appreciates higher interest rates: corporate pension funds.  (The Financialist)

Why a company’s stock price matters.  (Aleph Blog)

How LearnVest wants to upend the market for financial advice.  (NYTimes)


Is is time for a bounce in the Aussie dollar?  (WSJ)

Has the Spanish economy turned?  (MoneyBeat)

A big baby drought in Ireland, Spain and Italy.  (FT)

Watch for signs of financial fragility in China.  (Econbrowser)

Inflation is ticking up in Japan.  (Quartz)


Are rising rates beginning to bit the housing economy?  (Tim Duy also Humble Student)

Quantitative easing is now a part of the economic mainstream.  (Free exchange)

Consumer sentiment is at a six-year high.  (Calculated Risk, Bespoke)

Rail traffic is still pretty sluggish.  (Pragmatic Capitalism)

Are government stats missing the booming data economy?  (The Atlantic)

Earlier on Abnormal Returns

What you may have missed in our Thursday linkfest.  (Abnormal Returns)

Mixed media

The Chevy Impala and the American car comeback.  (LATimes)

The ‘smart home‘ has some security holes.  (GigaOM)

MIT creates the world’s first perfect mirror.  (Extreme Tech)

How the moon messes with your sleep.  (Time)

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