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Is the stock market expensive?  By this measure, yes.  (Greenbackd, Barron’s)

Up is down.  Black is white.  The opposite market.  (The Reformed Broker)

Volatility trends tend to continue.  Until it doesn’t. (MarketSci Blog, Behavior Gap)

Why the Yale endowment model of investing doesn’t work for everyone.  (HBR also Capital Spectator)

David Merkel, “In a long bull market, leverage builds up in hidden ways within corporations, and does not get revealed in any significant way until the bear phase comes.”  (Aleph Blog)

Brett Steenbarger, “Traders often want to change themselves in order to change their trading. They don’t recognize that changing their trading can become a powerful mechanism for changing themselves.”  (TraderFeed)

The market can’t get enough junk bonds.  (Bloomberg)

Some high profile re-IPOs are coming to market.  (WSJ)

Closed-end bond funds continue to surge.  (Bond Buyer)

Avoid injecting your political beliefs into your investing.  (A Dash of Insight)

Ten investing rules from Barry Ritholtz.  (Big Picture)

Momentum strategies may do better in inflationary times.  (Relative Strength Investing)

Does volume matter anymore for technical analysis?  (Charts and Coffee)

You can’t trade every sector the same way.  (Derek Hernquist)

When does market sentiment work as an indicator?  (CXO Advisory Group)

Did equity long/short funds blow it in 2008-09?  (All About Alpha)

A United-US Air deal might actually happen this time.  (Deal Journal)

Is United Airlines (UAUA) barking up the wrong tree?  (Bloomberg)

The “tragedy” of Chuck Prince and Robert Rubin.  (Felix Salmon)

The banks still have an home equity line problem.  (Rolfe Winkler)

The big banks don’t want you to know how much debt that actually have.  (DJ Market Talk)

How Wall Street has thrived on complexity.  (Ezra Klein)

Paul Kedrosky, “In short, the central thing about job creation from young companies is its inevitability.”  (Growthology)

The size of a sovereign debt burden is not everything when it comes to interest payments.  (Reuters Breakingviews)

Greece aside, sovereign risk, as measured by CDS prices, continue to fall.  (Bespoke)

Greece is trying to make it difficult on debt short-sellers.  (Money Supply)

Good luck, Greece.  (My Investment Analysis)

Everybody seems to doubt that a strong economic recovery is possible.  (NYTimes also Big Picture)

Club Wagner continues to gain adherents.  (Economix)

On the importance of comparing apples to apples with economic statistics.  (Kid Dynamite)

Is the app replacing mobile search?  (24/7 Wall St.)

iPhone OS 4.0 moves the ball forward, including in-app ads.  (Apple 2.0, Gizmodo)

Apple vs. Google on mobile ads.  (WSJ, NYTimes)

How MLB created a multi-media juggernaut.  (HBR)

What NPR and the Economist are doing right.  (Ezra Klein)

Hollywood is making a mistake in trying to block futures on movie box office receipts.  (Atlantic Business)

Statistics of the day:  65 year olds and American tax.  (kottke, Fundmastery Blog)

Europe is sobering up, literally.  (Economist also WSJ)

Is our universe in a wormhole?  (Economist’s View)

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