Wednesday links: quality and consistency

Quote of the day

Joe Fahmy, “I am finding very few quality setups.”  (Joe Fahmy)

Chart of the day

XLK XLI Wednesday links:  quality and consistency

The industrials-technology divide is growing.  (Bespoke)

Markets

Cyclicals continue to lag.  (Crossing Wall Street)

The pool of AAA-rated instruments is dwindling.  (FT Alphaville, Reuters)

Before reaching for yield look behind the curtain.  (research puzzle pix)

Strategy

Tyler Craig, “Unfortunately, you can’t “watch” a portfolio higher.”  (Tyler’s Trading)

More on whether you should paper trade.  (Becoming a Trader, Pragmatic Capitalism)

Seven places to hide via David Rosenberg.  (Big Picture)

Signs you may be overtrading or overleveraged.  (Stock Sage)

Gold is only a store of value if you eventually take profits.  (Free exchange)

Jesse Livermore, “It isn’t as important to buy as cheap as possible as it is to buy at the right time.”  (Charts Gone Wild)

Companies

Amazon ($AMZN) is the new Wal-Mart ($WMT).  (GigaOM)

Dunkin’ Brands ($DNKN) a tale of the tape.  (Deal Journal)

Facebook makes Apple ($AAPL) nervous, very nervous.  (SAI)

What Steve Jobs should learn from the counterfeit Apple stores in China.  (beyondbrics)

Paywalls are coming to online video.  (Bloomberg)

Hedge funds

SAC Capital is closing its flagship fund.  (Institutional Investor, NetNet)

Soros Fund Management is going out on a low point, performance-wise.  (Deal Journal)

John Carney, “Hedge fund regulation has backfired.”  (NetNet)

A family office is the new hedge fund.  (WSJ)

Finance

The SEC is set to start tracking big traders.  (Bloomberg)

The lowdown on the SEC rules for tax cost basis reporting .  (IndexUniverse)

On the attraction of managing money without clients.  (Financial Adviser)

Inside the tracking error of the S&P GSCI Total Return Index ($GSG). (IndexUniverse)

The big spread in pension fund asset allocations across countries.  (Infectious Greed)

Global

UPS ($UPS) says Asian growth is slowing while Dow Chemical ($DOW) is seeing decent global growth.  (Pragmatic Capitalism, Value Plays)

Weakness in steel stocks and the bear case for China.  (Investing With Options)

The implications of a slowing growth rate of copper production.  (Gregor Macdonald)

Debt ceiling

There is no hiding from a US default.  Here are seven diversification opportunities.  (Aleph Blog)

Tyler Cowen, “The nation’s long-run fiscal outlook matters now.”  (Marginal Revolution)

Do Wall Street and Washington really understand each other?  (Megan McArdle)

Economy

The economy is flirting with a recession according to this underrated indicator.  (Big Picture)

A jump in June truck tonnage.  (Calculated Risk, Carpe Diem)

Uh oh.  Gasoline prices are back on the move.  (Free exchange)

Inflation expectations matter.  (Real Time Economics)

Temp employment and rail traffic rebound.  (ValuePlays, ibid)

A housing shortage may be in the works, just don’t try to predict the timing.  (FT Alphaville)

How academic economists could help bridge the divide to practitioners.  (Macroeconomic Resilience)

Earlier on Abnormal Returns

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

Mixed media

Rising frustration with Yahoo! Finance.  (TechCrunch)

The availability heuristic and the case of Apple. (Phil Pearlman)

You have fewer real opinions than you think.  (Overcoming Bias)

Consistency as a measure of artistic greatness, or why Fountains of Wayne is one of the greatest bands ever.  (AV Club via MarketBeat)

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