Thursday links: error prices

• abnormalreturns
• January 7th, 2010

Five investing mea culpas for the year that was.  (Big Picture)

Individual investors are way too bullish.  (Sentiment’s Edge)

Cyclical stocks continue to outperform.  (Crossing Wall Street)

Russell 2000 volatility is stretched relative to the S&P 500.  (VIX and More)

Bond fund managers are holding a big slug of cash.  (Trader’s Narrative)

Buy German bunds.  Sell US Treasuries says Bill Gross.  (WSJ)

2009 was a really bad year for dividends.  (MarketBeat)

Target prices for stocks are useless without an accompanying “error price.”  (research puzzle)

Do commodity ETFs change demand for the underlying?  (24/7 Wall St.)

Eric Jacobson, “Splitting hairs in a quest for one be-all-and-end-all fund has diminishing returns and often can do more harm than good.”  (Morningstar)

How checklists can prevent you from “investing by the seat of your pants.” (Abnormal Returns)

On the practice of “deliberate practice” and its implications for investing.  (Street Capitalist)

Take the returns on hedge fund indices with a big grain of salt.  (Breakingviews)

Is an influx of former hedge fundies going to help performance for asset managers?  (Felix Salmon)

Carried interest is likely to be taxed at ordinary rates in 2011.  (WSJ also Clusterstock)

The Tim Geitner-AIG (AIG) story just keeps getting worse.  (Bloomberg, Deal Journal, Kid Dynamite, naked capitalism, Fund My Mutual Fund)

“Today the prices of many assets are being held up by unsustainable fiscal and monetary stimulus.”  (Economist)

The economic recovery is going to happen without housing.  (Slate)

Why the economy feels worse than the reported figures.  (EconomPic Data)

Did demand for credit really fall?  (Baseline Scenario)

Do we need an independent “National Institute of Finance“?  (Economix)

Iceland vs. the UK.  A fair fight?  (Felix Salmon also Financial Crookery, FT Alphaville)

Is Iraq about to change the world’s oil equation?  (The Money Game)

Just in case you haven’t tired of the past decade.  A decade-meta list.  (Kirk Report)

Some business books worth reading from the past year.  (Aaron Pressman)

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