Meriwether, in other words, is proof that markets are not efficient, and investors are frequently stupid, and frequently dazzled by slick sales pitches.”  (Ezra Klein also Credit Writedowns, Fund My Mutual Fund earlier Abnormal Returns)

2009 is a rarity with equities, gold and bonds all up double digits.  (Economist)

Two analysts firmly in the stock market is overvalued camp.  (FT Alphaville, The Pragmatic Capitalist)

What recent sector performance tells us about the state of the stock market.  (Afraid to Trade)

The financial sector is back to their historical weighting in the S&P 500.  (Bespoke)

Do a couple of financial IPO filings indicate a “return to risk”?  (Deal Journal, Telegraph)

The return of the Why-P.O.  (The Reformed Broker)

Some of the big banks are still way behind in their loan loss reserves.  (Accrued Interest)

The junk bond rally YTD has been breathtaking.  (WSJ)

Earning estimates, read (AMZN, MSFT) sometimes “fail.”  (Daily Options Report)

Is a buy-and-hold investment strategy the best of a bad lot?  (Abnormal Returns also Crossing Wall Street)

Smita Sandana, “Don’t confuse time frames.”  The long term is made up of a series of short terms.  (Wall St. Cheat Sheet)

“I would argue that as long as people are responsible for making investment decisions whether directly or indirectly, there will always be a huge impact of their aggregate bias on the market.”  (CSS Analytics)

The slew of new mortgage REITs are designed to be lucrative for their managers.  (Morningstar)

Risk in any diverse financial organization cannot be summed up by a third party into a scalar.”  (Falkenblog)

Nassim Taleb is trying to correct misperceptions about the Black Swan.  (CXO Advisory Group)

Why do bankers make so much money?  (Rick Bookstaber also The Big Money)

Skepticism abounds about the effectiveness of proposed pay restrictions.  (WashingtonPost, NYTimes, Clusterstock, Time)

“The overwhelming majority of the working population will never be able to prepare themselves for a period of unemployment lasting more than six months.”  (Felix Salmon)

The UK recession is not over.  (Calculated Risk, EconomPic Data)

“Nothing out there currently exists as a tech platform for RIAs.”  (World Beta)

How Havard economists invest.  (Harvard Crimson via Greg Mankiw)

On the importance of challenging ourselves and learning from our mistakes.  (The Frontal Cortex)

On the ultimate failure of Moneyball.  Does this include the movie as well?  (TNR via Infectious Greed)

Are today’s college graduates unprofessional?  (Inside Higher Ed)

Abnormal Returns is a proud member of the StockTwits Network.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.