Quote of the day

Chuck Jaffe, “Worry about your own portfolio and whether it is reaching your goals, not about how someone else — with different resources, needs and risk tolerances — is reaching theirs, no matter how much they talk about it.”  (Marketwatch)

Chart of the day

SPYWorld_1114

The US stock market has been outperforming the rest of the world for some time now.  (The Fat Pitch)

Markets

The world’s markets have a “breadth” problem this year.  (TraderFeed)

Apple ($AAPL) is now worth more than the Russian (and Mexican) stock markets.  (Cult of Mac, Carpe Diem)

Wal-Mart ($WMT) stock likes lower gasoline prices.  (StockCharts)

The risk-reward equation has changed for commodities.  (A Dash of Insight)

A lowdown on the state of the muni market.   (WSJ)

Strategy

Who’s on the other side of your forex trade?  (Jason Zweig)

Going long on valuation is very different than going short.  (The Value Perspective via Monevator)

“I don’t know” and the need for humility in an unprecedented era.  (Vitaily Katsenelson)

When you should you sell a “good company”?  (Clear Eyes Investing)

The stock market does not know you exist.  (Crosshairs Trader)

Longform

Techies are losing faith in Google ($GOOG) Glass.  (Reuters)

Can McDonald’s ($MCD) get its mojo back?  (Fortune)

The United Airlines ($UAL)-Continental merger was an argument against such deals.  (New Yorker)

Funds

The active management industry takes in more money per year than the Swiss economy.  (Reformed Broker)

Why we should take the 2 out of ‘2 and 20.’  (FT)

Assets in the SPDR Gold Trust ($GLD) are down some two thirds from the peak.  (Bloomberg)

Economy

A look back at the economic week that was.  (Big Picture)

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

Earlier on Abnormal Returns

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

Podcast Friday is up with a look at “textbook arbitrage.” (Abnormal Returns)

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

Mixed media

Probabilistic thinking requires using a relevant data set.  (Pragmatic Capitalism)

How to bargain on Shark Tank.  (Modeled Behavior)

What constitutes a “rich life“?  (A Wealth of Common Sense)

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