Quote of the day

Anonymous hedge fund manager, “Many countries are now pursuing different monetary policies – that is the lifeblood of macro trading.”  (FT)

Chart of the day

RUTSPY_0713

Small caps like rising interest rates.  (Business Insider)

Markets

What a regime shift looks like.  (Humble Student)

The right stocks are leading the stock market higher.  (The Reformed Broker)

Where certain markets are relative to their all-time highs.  (MoneyBeat)

It’s going to take some time to adjust to higher interest rates.  (Fortune)

Strategy

When do you admit you are wrong?  (Dragonfly Capital)

It is easy to get sucked into the ‘macro vortex.’  (Big Picture)

401(k)s are not perfect but that is what we need to work with at present.  (Bucks Blog)

Companies

Will Google ($GOOG) apps eventually take over the enterprise?  (Pando Daily)

Apple ($AAPL) wants to get into the ad-skipping business.  (Jessica Lessin)

The bear case for Apple. (Fortune)

Has Yahoo! ($YHOO) turned its business around one year into the Marissa Mayer era?  (WSJ)

Dell ($DELL) investors should take the run.  (Marketwatch)

Homebuilders

The big homebuilders have only gotten bigger relative to their competitors.  (WSJ)

Homebuilder confidence hits seven year highs.  (Calculated Risk, Bespoke)

Homebuilder stocks are off the highs.  (ETF Trends)

Finance

Insider traders should be ready to serve some hard time.  (Dealbook)

Wall Street still has an ethics problem.  (Dealbook, Dealbreaker)

Now the big banks are getting out of the metals warehousing business.  (FT Alphaville)

ETFs

What the new Blackstone Alternative Multi-Manager Fund (BXMMX).  (24/7 Wall St.)

The proposed Bitcoin ETF seems to be dead on arrival.  (FT)

Global

The Fed may be tapering but the rest of the world is not.  (Gavyn Davies)

Hedge funds are betting against Polish bonds.  (Reuters also WSJ)

A clear explanation of China’s economic problems.  (Wonkblog)

The renminbi has stopped appreciating.  (MoneyBeat)

Economy

A look at slow but steady industrial production.  (Capital Spectator)

Real median wages have stagnated.  (Bonddad Blog, RTE)

Big firms are trying hard to justify paying the minimum wage.  (Daniel Gross)

Earlier on Abnormal Returns

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

Startups

Funding environments change: what matters for startups is cash flow.  (Ben Horowitz)

Three tips on using equity for startup employees.  (Pando Daily)

Mixed media

The world has a glut of rice.  (Quartz)

Sous vide machines are going to become a household staple.  (Slate)

Go to college. You will live longer.  (Freaknomics)

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

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.