Quote of the day

Floyd Norris, “The great bear market in bonds, both corporates and governments, lasted 35 years, from 1946 to 1981. The bull market lasted about 30 years. A new bear market almost certainly has begun.”  (NYTimes)

Chart of the day

FXY Chart

FXY data by YCharts

Is a turn in the Yen finally here?  (TheArmoTrader)

Markets

Fiscal cliff negotiations provide investors with volatility (and opportunities).  (A Dash of Insight)

Correlation is the new VIX.  (WSJ)

Strategy

The six biggest investing lessons from 2012.  (The Reformed Broker)

A look at the illiquidity premium on a worldwide basis.  (SSRN via CXOAG)

Companies

Shorting multi-level marketers is a tough game.  (Bronte Capital)

A graphical look at the “four horsemen” of the Internet.  (research puzzle pix)

Beware companies like Hewlett-Packard ($HPQ) that claim an acquisition will reboot the company.  (Reuters)

Facebook ($FB) has an innovation problem.  (Slate)

Starz Entertainment is being spun out from Liberty Media ($LMCA) amidst a scad of uncertainty.  (Money & Co.)

Apple

Is Apple the new Polaroid?  (The Brooklyn Investor)

The valuation case for Apple ($AAPL) at $500 a share.  (Musings on Markets)

Finance

High frequency traders are relying on their lobbyists to keep the regulatory coast clear.  (WSJ)

As global mandates proliferate so does demand for currency hedgers.  (Institutional Investor)

The line between cash and derivatives trading is blurring.  (Dealbook)

Is high frequency trading hurting the little guy?  (Adam Warner)

2012 was NOT the year of the IPO.  (Bloomberg contra Ivanhoff Capital)

Economy

Is the economy headed for a future that looks more like Star Wars or Star Trek?  (FT Alphaville also Marginal Revolution, TRB)

Ten questions (and answers) about the economy in 2013.  (Pragmatic Capitalism)

Rail traffic is doing just fine.  (Pragmatic Capitalism, ValuePlays)

Earlier on Abnormal Returns

Curating your financial life.  (Abnormal Returns)

Mixed media

Smart TVs are dumb.  (Wired, ibid)

Same-day delivery is becoming a thing.  (NYTimes)

The “hydration clinic” will now see you.  (Crain’s Chicago via @pointsnfigures)

Why winter is flu season.  (Scientific American)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

More Posts This Week

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.