Don’t miss out! You can keep up with all of our posts by signing up for our daily e-mail. Thousands of other readers already have.

Quote of the day

Noah Smith, “(G)old pays off when there is an outbreak of goldbug-ism. Gold is a bet that there will be more goldbugs in the future than there are now.”  (Noahpinion)

Chart of the day

GSPBK_0713

What happens when bank stocks lead?  (Market Anthropology, YCharts)

Markets

The real cost of holding cash.  (Business Insider)

Why you should plan for lower P/E ratios in the future.  (Mark Hulbert)

Day of the month seasonality for August.  (MarketSci Blog)

Bonds

The case for muni bonds from David Kotok.  (IndexUniverse)

Why bonds are still a buy.  (Minyanville)

The grind

You gotta love the grind (of trading).  (Trader Habits)

Venture capital, done right, is a grind.  (A VC)

Strategy

There is nothing stable about the portfolio construction process.  (Systematic Relative Strength)

Howard Lindzon, “Embrace some messiness.”  (Howard Lindzon)

A quick philosophy on long-term investments.  (The Real Fly)

A nice review of Michael Mauboussin’s The Success Equation:  Untangling Skill and Luck in Business, Sports, and Investing. (Enterprising Investor)

Technology

Has Google ($GOOG) messed up Zagat?  (Businessweek)

Facebook ($FB) as the new Microsoft ($MSFT).  (Pando Daily)

Is Google more like Apple ($AAPL) or Microsoft?  (Bits)

Finance

Steven M. Davidoff, “The hostile takeover is on life support, if it’s not dead altogether.”  (Dealbook)

If you are going to insider trade at least listen to the entire tip.  (Jeff Matthews)

Do we really want to start collateralizing single-family home rental payments?  (WSJ)

Why Wall Street needs to get out of the commodity business.  (Fortune)

Ten year venture capital returns were no great shakes.  (Pando Daily)

Global

Green shoots in Europe.  (The Reformed Broker)

The destruction that is the Chinese stock market.  (Bloomberg)

Economy

2Q GDP showed continued strong growth along with a slew of conceptual changes.  (Calculated Risk, FT Alphaville)

ADP shows a big jump in payrolls.  (Capital SpectatorCalculated Risk)

The case for Larry Summers for Fed chair.  (Wonkblog)

In praise of the stock market as economic indicator.  (WSJ)

Earlier on Abnormal Returns

How do you respond the “The Grind“?  (Abnormal Returns)

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

Mixed media

At its best an app can make our lives more in a “straight line.” The case for Hailo.  (The Daily Beast)

ZestFinance wants to use big data to create better individual credit ratings.  (Pando Daily)

Why non-geeks should be excited about Google Chromecast.  (LinkedIn, AllThingsD, Slate TechLand)

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.