REITs continue to lead the global capital markets rally.  (The Capital Spectator)

Hedge funds are super short 10 year US treasury bonds.  (market folly)

The first day of May has been a uniquely profitable day.  (Quantifiable Edges also MarketSci Blog)

Don’t “sell in May“, rotate.  (Marketwatch also James Altucher)

Is it time to watch for another equity market neutral wipeout?  (Zero Hedge)

Is the hedge fund fee structure finally going to change?  (FT)

Magical thinking and the VIX.  (Options Zone also VIX and More)

Market structure shifts.  Do you?  (TraderFeed)

Risk management is job one for new traders.  (Options for Rookies also Big Picture)

Should index investors worry about market efficiency?  (CBS MoneyWatch)

Global X is planning to bring out a slew of specialized ETFs including a Lithium ETF.  (Random Roger, IndexUniverse)

The (technical) attractions of the solar sector.  (Marketwatch)

Value investor Tom Russo profiled along with his two longest held positions.  (WSJ)

A baffling offer from Buffett-wannabe Biglari Holdings (BH).  (Peridot Capitalist)

Alternative asset managers are diversifying via acquisitions of traditional money managers.  (Institutional Investor)

With Greece bailed out are Greek stocks now a buy?  (NYPost)

Beware the muni bond bubble.  (City Journal via Infectious Greed)

Hedge funds have largely escaped the wrath of financial reform…for now.  (Politico, Clusterstock. Felix Salmon)

Has Goldman lost its “social license“?  (Slate)

Steve Randy Waldman, “I think it entirely possible that Goldman could go the way of Arthur Anderson or Drexel. If so, the firm will have no one to blame but itself.”  (Interfluidity)

How Wall Street manufactured all those CDOs.  (Big Picture, Crossing Wall Street)

Spending growth outpaces income growth.  (WSJ, EconomPic Data, Calculated Risk, money supply)

The ISM Manufacturing report continues to rise.  (The Pragmatic Capitalist, EconomPic Data, Calculated Risk)

More signs of an economic rebound mount.  (The Money Game, ibid)

Have we entered an age of “rolling debt crises“?  (WSJ, ibid)

The global economic recognition lag.  (Infectious Greed)

Can Greece really make an austerity package work?  (NYTimes, Bloomberg BW, Felix Salmon)

Despite its currency not really trading that much China is now an influential currency player.  (WSJ)

Who is going pay, and how much, for the BP (BP) oil slick?  (The Money Game, WashingtonPost, Telegraph UK, Big Picture, Bloomberg)

What effect will the Gulf oil spill have on offshore drilling?  (FT, Free exchange)

Google (GOOG) needs to find a new growth engine.  (Silicon Alley Insider)

Apple (AAPL) has sold a million iPads in a month.  iBooks are another issue.  (WSJ, SAI also paidContent)

The iPad vs. everything else.  (Technologizer)

Apple is on a bit of an acquisition spree.  (Bloomberg)

Betaworks profiled.  (NYTimes)

Nassim Taleb talks black swans with Russ Roberts. (EconTalk)

The differences between the political blogospheres.  (Harvard via Daily Dish)

On the value of self-experimentation.  (The Frontal Cortex)

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