Monday links: passive overconfidence

Quote of the day

Jared Woodard, “(T)he moment when the consensus approach is to mock hedge funds as a group and to assume that all of the important aspects of an asset class can be captured in an ETF is probably also the moment when the crowd starts lagging more sophisticated investors.”  (Condor Options)

Chart of the day

NLR 0713 513x420 Monday links:  passive overconfidence

Whoever said nuclear energy was dead?  (StockCharts Blog)

Video of the day

Consuelo Mack talks interest rates with Dan Fuss and Rich Bernstein.  (WealthTrack)


We are still waiting for the Dow Transports to confirm.  (All Star Charts, Ivanhoff Capital)

Implied equilibrium risk premia forecasts.  (Capital Spectator)

Valuations are not all that crazy.  (Dr. Ed’s Blog)

The rest of the world is not ready for higher US interest rates. (AlphaNow)


What is Amazon ($AMZN) without a viable Barnes & Noble ($BKS)?  (NYTimes)

How to save the bookstore.  (Bloomberg)


Apple ($AAPL) is on hiring spree to get an iWatch to market.  (FT)

Netflix ($NFLX) needs to focus on growing subs.  (WSJ)

Retailers are going high tech in tracking shoppers.  (NYTimes)

Pushback is coming for the high cost of sports broadcast fees.  (WSJ)


The hedge fund backlash may be here but won’t put much of a dent in them.  (The Reformed Broker)

JP Morgan ($JPM) is bigger today than Citigroup ever was.  (Baseline Scenario)

Are discrete auctions all they are cracked up to be?  (Falkenblog)


A closer look at ETF liquidity (and volatility).  (IndexUniverse, ibid)

Bill Miller’s recent performance: nothing to see here.  (Chuck Jaffe)

Investors are hot for short-term junk bond ETFs.  (MoneyBeat)

Are target date bond ETFs finally ready for prime time?  (Learn Bonds)


Q2 GDP shows slowing growth in China.  (QuartzFT Alphaville, ibid)

China’s economic growth has not benefited shareholders.  (Bloomberg)

Emerging market bonds look better than they did earlier this year.  (WSJ)

An economy runs on its logistics.  (Economist)


Q2 US GDP is tracking at 1.0%.  (Calculated Risk)

Retail sales growth remains on track.  (Capital Spectator, Calculated Risk)

The markets are coming to terms with the end of QE.  (Tim Duy)

There is a raging bull market in ethanol credits.  (FT)

Earlier on Abnormal Returns

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

Mixed media

In praise of quiet gadgets.  (Quartz)

On the end of The Oil Drum.  (Buzzfeed Business)

Just who are “the Fragilistas“?  (Farnam Street)

How many Internet domains do we really need?  (WashingtonPost)

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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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