Thursday links: a better mousetrap

Quote of the day

Jon Stein, “In my view, there’s virtually no advantage to mutual funds. ETFs use the pipes of the market, rather than one-off distributor agreements, so they are fundamentally more efficient.”  (ETFdb)

Chart of the day

Ruleof20 0912 624x365 Thursday links: a better mousetrap

Just how well does the ‘Rule of 20‘ work in practice?  (Dr. Ed’s Blog)


Just how scared should you be of the “dividend cliff“?  (Musings on Markets)

Do biotech stocks exhibit seasonality?  (CXOAG)

Fidelity now manages more cash and bonds than equities.  (Reuters)


On the value of subtracting noise for traders.  (MartinKronicle)

Understanding the concept of “max pain” for traders.  (Kid Dynamite)

A positive review of Ronald W. Chan’s The Value Investors: Lessons from the World’s Top Fund Managers.  (Rational Walk)


Convertible bond funds have had a couple of favorable decades.  (Learn Bonds)

Banks have acquired a taste for muni bonds.  (FT)

Why have TIPS been cheap relative to plain vanilla Treasuries?  (SSRN)


More signs the housing recovery is in place.  (Bonddad Blog, Sober LookBig Picture)

QE has worked in collapsing the spread between MBS and Treasuries.  (Calafia Beach Pundit, Sober Look)

30-year mortgage rates hit a record low.  (AP)


Fund managers are going to find it hard to resist launching active ETFs.  (AdvisorOne)

There are two ETPs to play “wide moat” investment theme. (research puzzle pix)

Frontier market ETFs are heavy on financials.  (Institutional Investor)


Weekly initial jobless claims declined, but other indicators show economic weakness.  (Calculated Risk, MarketBeat)

The stock market likes higher inflation, get over it.  (Capital Spectator)

A not altogether good sign from the Philly Fed for the US economy.  (Reuters)

Thinking of economists as gardeners and not scientists or engineers.  (macroblog)

Markets have a way of dealing with “shortages” and its called higher prices.  (Slate)

Earlier on Abnormal Returns

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

Mixed media

The neuroscience behind confirmation bias.  (Guardian)

Why big companies can’t innovate.  (HBR)

Why is it so difficult to correct errors?  (Wired)

On the impossibility of meritocracy.  (Stumbling and Mumbling)

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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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