“It seems counter-intuitive, but despite the weak fundamentals of the underlying economy, the liquidity outlook continues to favor the risk trade.”  (The Pragmatic Capitalist)

Another market valuation tool says the easy money has been made.  (Value Plays)

You can’t trade everything. Well, at least you can’t trade everything well. At some point, you should limit the universe of things you trade.”  (Milk Trader)

Interesting goings on as the PowerShares DB US Dollar Index Bullish ETF (UUP) runs out of shares.  (Nancy Miller, The Pragmatic Capitalist)

The spread on Berkshire Hathaway (BRK-A) bonds may go down even though its credit ratings are dropped due to the Burlington Northern (BNI) deal.  (Bloomberg)

What will Warren Buffett’s eventual successor do with the soon to be acquired Burlington Northern? (Abnormal Returns)

Second time is a charm?  Citigroup (C) plans to relaunch its hedge fund operations.  (FT, Dealbreaker, Daily Intel)

Working on Wall Street means never having to say you are sorry.  (Dealbreaker)

The pace of ETF closures is accelerating.  How to tell if your ETF is about to close.  (IndexUniverse earlier Abnormal Returns)

IndexIQ plans to launch a merger arbitrage ETF.  (ETF Database)

Commission-free ETF trading and more gimmicky ETFs.  (Abnormal Returns also WSJ)

Do hedge fund investors “share” their investment ideas?  (SSRN via FinanceProfessor)

Why do traders gamble on the shares in bankrupt companies?  Lottery-like characteristics.  (SSRN, ibid)

Fewer Harvard MBAs going to Wall Street is a good thing.  (DealBook)

A bad week for the widening Wall Street-Main Street divide.  (Deal Journal)

The Feds have turned a profit on their financial company debt guarantees.  (NYTimes)

Sarbanes-Oxley is about to get “gutted.”  (Floyd Norris also Big Picture)

Are central clearinghouses for CDS and other derivatives truly a ‘magic bullet’?  (naked capitalism)

Yet another ugly employment report.  (Free exchange, Calculated Risk, EconomPic Data, Atlantic Business, Crossing Wall Street, The Stash)

Bad jobs numbers are unleashing a wave of lousy economic policies from Congress.  (Steven Pearlstein)

Felix Salmon, “If the US no longer drives the global economy, then the rest of the world will be much less inclined to fund its twin deficits to the tune of trillions of dollars per year.”  (Felix Salmon)

Which bloggers were invited to the sit down with Treasury officials?  (Aleph Blog, ibid also Marginal Revolution, Kid Dynamite, Baseline Scenario)

A new (virtual) hang out for distressed debt investors.  (Distressed Debt Investing)

How a background in finance can help you get to the finals of the World Series of Poker.  (Texas Hold’em Investing)

A list of the top books that discuss equity return distributions and market bubbles.  (World Beta)

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.