Tuesday links: stock price fragility

• abnormalreturns
• October 27th, 2009

Eric Falkenstein, “I would estimate 90% of all alpha is misrepresented.”  (Falkenblog)

Just what is the “implied cost of assuming alpha’s existence“?  (All About Alpha)

Everyone is reading the newly bearish quarterly missive from Jeremy Grantham.  (Market Beat, Credit Writedowns, The Money Game, MarketBeat, Investment Postcards, Fund My Mutual Fund)

An updated look at pullbacks in this market upswing.  (VIX and More)

Transports are signaling economic weakness,  (The Pragmatic Capitalist)

A new ETF, the IQ CPI Inflation Hedged ETF (CPI), targets 2-3% over CPI.  (IndexUniverse)

Don’t get fooled by volume surges in ETFs with easy substitutes.  (Investing with Options)

What is the best way to “buy volatility“?  (Daily Options Report)

“There have been some strange goings on in the world of ETF gold bar holdings of late.”  (FT Alphaville)

Joshua M. Brown, “We are not yet in a frothy enough market to have LBO shops and private equity firms dump their leftovers on us quite so soon.”  (The Reformed Broker)

Gregor Macdonald, “Mostly, American money management remains quite stuck in a bunch of antiquated, regressive viewpoints about the world, most of which are American-centric and offer cheerleading in the place of science, and the hard work involved in understanding these subjects.”  (Gregor Macdonald)

“Stock price fragility” measures the relationship between ownership structure and non-fundamental risks.  (SSRN)

Ken Griffin on the need for centralized exchange for derivative products.  (FT)

The August Case-Shiller home price numbers show a modest month over month gain.  (Calculated Risk, Big Picture, Curious Capitalist, Free exchange, Bespoke)

Do home prices need to correct all the way back to pre-bubble levels?  (The Money Game)

The first-time home buyer’s credit was a bad idea.  Why would we extend it?  (Washington Post)

Should the SEC force dark pools to increase trade transparency?  (Marketwatch also DealBook)

Where did all the Wal-Mart (WMT) haters go?  Think recession.  (Fortune)

What is the solution to the fact that our financial skills decline after age 53? (Vanguard Blog)

Investment books to help you think like an investor.  (Contrarian Edge)

The music industry didn’t see the Apple (AAPL) iPod coming.  Is the DVD industry ready for the much-rumored Apple Tablet?  (24/7 Wall St.)

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