The Dow hit its bull market high ten years ago today.  (Crossing Wall Street)

Since the collapse of Lehman Bros. preferred stocks have outperformed high yield bonds and the S&P 500.  (Bespoke also Don Fishback)

An indicator pointing to still higher stock prices.  (Trader’s Narrative)

Jeff Miller, “There is a widespread feeling that the “easy money” was made last year. In fact, we actually just got back to square one.”  (A Dash of Insight)

It’s a mistake to characterize John Paulson as a risk-averse investor.  (Felix Salmon)

Adam Warner, “We all know how the pundits do prognosticating in our biz. Every year they predict 8-10% returns, but warn that it’s a stock-pickers market.”  (Daily Options Report)

How one might apply a quantitative approach to value investing.  (Greenbackd)

Expect M&A to ramp up in the asset management industry.  (All About Alpha)

The U.S. passed Russia as the world’s largest natural gas producer.  (Carpe Diem)

The Pickens Plan is now focused on natural gas.  (DealBook, 24/7 Wall St.)

James Surowiecki, “The crisis, in that sense, was caused less by the fact that the banks were too big to fail than it was by the fact that they never seriously considered the possibility that they might fail.  (The Balance Sheet)

The “Dillinger Theory” help explain why the banks are now facing a “financial crisis responsibility fee.”  (Clusterstock also WSJ, NYTimes, Baseline Scenario, Atlantic Business, Felix Salmon, Kid Dynamite)

Rail traffic and retail sales are still stuck in the mud.  (Calculated Risk, EconomPic Data)

Is the housing market facing a double-dip?  (The Money Game)

Do investors prefer negatively skewed returns?  (Macroeconomic Resilience)

Arnold Kling, “People really like safe assets. A lot of effort, both in the private sector and in the public sector, goes into creating assets that are safe or that appear to be safe.”  (EconLog)

An interview with Justin Fox on the persistence of the efficient markets crowd.  (Simoleon Sense)

John Cassidy interviews Eugene Fama, John Cochrane and Richard Posner.  (Rational Irrationality, ibid, ibid)

Reading the Google (GOOG) experiment in China as a noble failure.  (Ultimi Barbarorum also GigaOm)

Why for most start-ups “chasing eyeballs” is a mistake. You first need to stand for something.  (37signals)

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