“ETFs are investment products. Like stocks, mutual funds, and all manner of other financial confections, more than a few qualify as genuine carp that should never have had space on the markets’ shelves.”  (NakedShorts)

Outspoken bank analyst Richard X. Bove thinks a number of bank stocks are “too cheap.”  (NYTimes.com)

“A year into the credit crisis, in other words, trust remains a rare commodity in the banking world.”  (FT.com)

The easy trades for hedge funds in 2008 (long commodities, short financials) reversed in July.  (Bull Bear Trader)

“The only sure way to call a bottom is of course to………keep calling one.”  (Daily Options Report)

Do stop-loss orders work?  (CXO Advisory Group)

Expect more volatility in the Treasury market.  (Financial Ninja)

“July turned out to be the slowest month for initial public offerings world-wide in five years, and no significant pickup is expected this month.”  (WSJ.com)

Why does any one still have money in Van Wagoner Emerging Growth (VWEGX)?  (WSJ.com also Curious Capitalist)

Happy (unwelcome) anniversary to the credit crisis.  (DealBreaker.com)

Is a second wave of home mortgage defaults coming?  (Big Picture, Clusterstock.com)

Median income vs. gasoline consumption.  (Real Time Economics, Market Movers)

“In short, the case for a rate hike appears tied to continued decoupling of the US and global economies; recoupling argues for stable monetary policy.”  (Economist’s View)

Demand for risk free assets is high.  (EconLog)

Can too many stakeholders spoil the venture?  (NewYorker.com)

Rogue waves can form with surprisingly little buildup.  (LiveScience.com)

Thanks again to every one who has donated to Abnormal Returns. You can always do so by hitting our tip jar.