Bond fund managers are closing their books early to lock in gains before year-end.  (WSJ)

Most people investing by the seat of your pants.  On building a testable investment process  (Abnormal Returns)

Mutual fund companies are jumping on the tactical allocation, i.e. market timing, bandwagon.  (WSJ also Falkenblog)

Bill Luby, “It is almost as if the VIX refuses to believe that realized volatility is declining and insists that the gravitational forces of mean reversion be suspended until further notice.”  (VIX and More)

How to become a more risk-averse investor using options.  (Condor Options)

Silver and platinum have regained some ground against gold of late.  (Bespoke)

“Blatant” insider trading in 3Com (COMS) options and shares prior to its acquisition.  (Zero Hedge, Clusterstock, The Reformed Broker)

Or not.  Not every instance of “odd call buying” is indicative of smart money moves.  (Daily Options Report)

The Feds would be wise to keep Benmosche as CEO of AIG (AIG).  (24/7 Wall St., Mean Street)

There is a battle to take over the space once maintained by Lehman Brothers’ “uncommon values” best stock ideas list.  (Big Picture)

How is that the stock market’s valuation is rising in the face of a higher deficit/GDP ratio?  (Buttonwood)

Greater scrutiny of mutual fund fees is not in the interest of the mutual fund industry.  (kaChing Blog)

Is the hedge fund exodus from London finally here?  (FT Alphaville)

Some countries are pushing back against the weak dollar.  (Clusterstock)

The Australian economy is on the upswing.  (EconomPic Data)

Upside (consumer spending) and downside (housing) risks to the economy.  (Calculated Risk)

The ugly commercial real estate situation still looms over bank balance sheets.  (Atlantic Business)

Ten states on the path to a California-like fiscal crisis.  (Money & Co., Atlantic Business)

The American tradition of tinkering is back and the importance of innovation in driving economic growth.  (WSJ, Real Time Economics)

Apple (AAPL) is interested in profits not market share.  (TechCrunch via Daring Fireball, BusinessWeek)

There is no “debt gene.”  It’s more complicated than that.  (SmartMoney)

On the pervasive behavioral bias of anchoring:  “where there’s a price there’s an anchor.”  (The Psy-Fi Blog)

An interview with John Tamny of Real Clear Markets.  (Wall St. Cheat Sheet)

Research finds the performance of the equity markets has a positive effect on art prices.  (SSRN)

Toward a more efficient NBA.  Points per three point attempt now exceed points per possession.  (Yglesias via Free exchange)

Umberto Eco, “The list is the origin of culture. It’s part of the history of art and literature. What does culture want? To make infinity comprehensible.”  (Spiegel via The Browser)

Abnormal Returns is a proud member of the StockTwits Network.