Wednesday links: worthless models

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Quote of the day

Hale Stewart, “(C)omplex models that claim to model the entire US economy just aren’t worth the time of day no matter how good the algorithms backing it up. ”  (Bonddad Blog)

Chart of the day

ITB 0813 624x303 Wednesday links:  worthless models

The homebuilders continue to retreat.  (ETF Trends)


The VLMAP is showing stocks to be notably overvalued.  (Mark Hulbert)

Where did all the 52 week highs go?  (All Star Charts also ZorTrades)

The corporate bond market is open for business once again.  (WSJ, Income Investing)


On the challenges of managing asset allocations in a rising rate environment.  (Capital Spectator)

When dividend paying stocks help your portfolio.  (The Reformed Broker)

Bridgewater has revamped its All Weather Portfolio in light of rising rates.  (Bloomberg)

Ben Graham did NOT give up on value investing as a theory.  (Aleph Blog)

A look at how the super rich invest.  (Forbes)

Carl Icahn

Now Carl Icahn is bigfooting Apple ($AAPL).  (WSJ, MoneyBeat, Bloomberg, Slate)

Why Carl Icahn took to Twitter.  (Dealbreaker)

Tim Cook should spend less time listening to shareholders and more on product.  (Henry Blodget)

Social finance

Carl Icahn understands the power of social finance. Do you?  (Howard Lindzon)

How social media affects financial markets.  (Real Clear Markets)


Why Apple needs a fully featured, low cost iPhone.  (Daring Fireball, Steve Cheney)

Who would want to buy Blackberry ($BBRY) and why?  (CNNMoney)

Intel’s ($INTC) defense of the PC.  (AllThingsD)


Why activist investors may want to stay off of corporate boards.  (Dealbook)

RIAs continue to take market share from wirehouses.  (InvestmentNews)

US money market funds are buying Euro bank debt again.  (FT)

Why do SPACs still exist?  (Dealbook)


ETFs are on the cutting edge of bond pricing.  (Focus on Funds)

When your MLP ETF is not really made up of ETFs.  (Invest With an Edge)


UK rates are headed higher.  (FT)

The Eurozone is growing again.  (WSJ, Quartz)

The global grains crisis is over.  (FT)


Why QE is a ‘successful failure.’  (Calafia Beach Pundit)

Why is capital spending so low this time around?  (Dr. Ed’s Blog)

Inflation expectations are once again on the rise.  (Sober Look)

Why it is easier to forecast rain than a recession.  (FT)

You want lower air fares? Allow foreign carriers to compete in the US.  (Slate)

Earlier on Abnormal Returns

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


It is a good time to be a car buyer.  (Carpe Diem)

Senior citizens are buying hipster cars much to the chagrin of auto marketers.  (WSJ)

Are sleep aids making us dangerous morning drivers?  (NYTimes)

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