Quote of the day

Douglas Tengdin, “The market doesn’t provide high returns just because we need them.”  (Global Market Update)

Chart of the day

Two thousand years of economic history in one chart.  (Economist)

Markets

Companies are buying back shares, insiders not so much.  (MarketBeat)

Where the earnings are, sector-wise.  (Bespoke)

On the value of analyst estimates.  (A Dash of Insight)

Auto parts stocks are pushing higher.  (chessNwine)

The case for REITs.  (Morningstar)

Strategy

James Picerno, “The world is teeming with investment advice. Some of it may actually be useful.”  (The Capital Spectator)

Why use charts?  Technicals trump fundamentals.  (The Reformed Broker)

On the importance of recognizing levels of “price memory.”  (Derek Hernquist)

Can a focus on sustainability help investors?  (market folly)

Can you make money from textual analysis?  (Empirical Finance Blog)

Predicting commodity prices ain’t easy.  Just ask the Fed.  (Liberty Street Economics)

Companies

How much did Bill Miller lose on Kodak ($EK)?  (InvestmentNews)

Android activations are surging.  (SAI, A VC)

Is it time for the iPhone to grow up?  (Asymco)

How the FDA impedes innovation.  (Marginal Revolution)

Finance

How too big to fail banks imperil capitalism.  (Real Time Economics)

Pension funds are once again investing directly in hedge funds.  (Pension Pulse)

Global

Why Greece is not Argentina.  (Term Sheet)

Eurozone default probabilities.  (SurlyTrader)

Muddy Waters has a new short position – Spreadtrum ($SPRD).  (Zero Hedge, MarketBeat, FT Alphaville)

Vietnam is always a country on the verge.  (beyondbrics)

Economy

Signs of hope in the Case-Shiller numbers.  (Calculated Risk, FT Alphaville, Big Picture, CBP)

May was a pretty good month for the economy.  (Capital Spectator)

The financial press is losing hope about the long term prospects for the economy.  (MarketBeat)

Monetary velocity is slowing.  (Bonddad Blog)

Middle class blues

Consumer spending depends on who is doing the spending these days.  (FT Alphaville)

Chris Giles, “It is no fun to be a fork-lift truck driver in a world of automated distribution warehouses.”  (FT)

On the woeful state of the American saver.  (Systematic Relative Strength)

Earlier on Abnormal Returns

Every trader is working with a model. The challenge is applying that model in an unbiased fashion.  (AR Screencast)

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

Mixed media

In praise of fidgeting.  (Science Blog)

Why would a team down at halftime be more likely to win?  (Scientific American)

More advice on how to deal with “crappy people”  (Altucher Confidential)

Abnormal Returns is a founding member of the StockTwits Blog Network.

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.