Bill Miller may be a lot of things, but a good risk manager is not one of them.  (The Pragmatic Capitalist)

New 52-week highs are expanding.  (Bespoke)

“Volatility is about fear of the unknown, and so long as gold and currencies get out of range a bit, there’s apparently a bit of fear around of either missing another leg up or missing an about face down.”  (Daily Options Report)

“Sound investment does not require forecasts. It is enough to align the investment position with the prevailing, observable evidence.”  (Hussman Funds)

Blackstone Group (BX) is planning on bring eight companies back public.  (DailyFinance)

There is a big valuation discrepancy between Blackstone Group and KKR & Company.  (Breakingviews)

Segregated accounts are back in vogue for hedge fund investors.  (InvestmentNews)

401(k) plans are an easy target after a decade of poor stock returns.  (Random Roger)

How changes in equity risk affect the structure of Treasury bond pricing.  (SSRN)

“If a model is to become a standard, if it is going to be used for regulatory or other benchmarking purposes, it should be transparent and subject to peer review.”  (Rick Bookstaber)

Wouldn’t it be easier if central banks didn’t blow asset bubbles in the first place?  (Economics One)

Why are companies quitting the U.S. Chamber of Commerce?  (New Yorker, The Balance Sheet)

A pair of 50/1 shots win the Nobel prize in Economics. (WSJ, Clusterstock, Real Time Economics, EconLog, Marginal Revolution, Dynamist)

An Apple Tablet would quickly take over the e-reader market.  (I, Cringley )

The NFL is facing increasing scrutiny of the long term impact of (head) injuries.  (New Yorker, CBS News)

Abnormal Returns is a proud member of the StockTwits Network.