Friday links: taking duration risk

Quote of the day

Izabella Kaminska, “The whole point of asset purchases is that the Fed is taking duration risk so that the private sector doesn’t have to.”  (FT Alphaville)

Chart of the day

BBGo 0813 624x374 Friday links:  taking duration risk

AAA munis now yield as much as Baa corporates.  (Income Investing)


A look at a few signs of exuberance.  (Market Anthropology)

Mid cap stocks are leading the market higher.  (StockCharts Blog)

We’re at the peak of the Presidential election cycle.  (Crossing Wall Street)

Stock correlations are at a five-year low.  (FT)

Big oil has not profited from the shale revolution.  (WSJ)


Why you have to treat trading like a business.  (StockCharts Blog)

Why you should abandon bonds. A preview of Simon Lack’s Bonds Are Not Forever: The Crisis Facing Fixed Income Investors.  (In Pursuit of Value)

Simplicity is the ultimate sophistication.  (Vanguard Blog)

Do on-site company visits help managers outperform?  (Turnkey Analyst)


Mark Gongloff, “The financial crisis is finally over, folks: We have found a scapegoat.”  (Huffington Post also Wonkblog, Dealbook)

Hedge funds are great except for the asset bloat and excessive fees.  (Insider Monkey)

The rise of financial technology firms depends on regulators.  (Economist, ibid)

What happens at the NYSE’s ‘IPO boot camp’?  (Buzzfeed Business)


Can Fidelity ever catch up in ETFs?  (InvestmentNews)

The second managed futures ETF, First Trust Morningstar Managed Futures Strategy Fund ($FMF), launches .  (Focus on Funds)


European shares look cheap relative to the US.  (Monevator)

Does the UK currently have an aggregate demand problem?  (Marginal Revolution)


A look at the disappointing July jobs report.  (Calculated Risk, Quartz, FT Alphaville, Economix, Capital Spectator, Bonddad Blog)

Why is inflation so low?  (Econbrowser)

Earlier on Abnormal Returns

What books Abnormal Returns purchased most often in July 2013.  (Abnormal Returns)

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

Mixed media

Can startups change the world? Not really.  (Pando Daily)

Will the new Moto X by Google ($GOOG) annoy its Android partners?  (Quartz, Daily Ticker)

Is Twitter’s ad business bigger than we think?  (Business Insider)

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  • Tadas ViskantaAbnormal Returns has over its seven-year life become a fixture in the financial blogosphere. Over thousands of posts we have striven to bring the best of the financial blogosphere to readers. In that time the idea of a “forecast-free investment blog” remains as useful as it did six years ago. More »

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