Quote of the day

Peter J. Henning, “There seems to be the potential for an almost unimaginable amount of litigation arising from the fallout from the collapse of the housing market. ”  (Dealbook)


The bifurcated earnings story continues.  (Pragmatic Capitalism)

Dr. Copper is setting up for a fall.  (Trader’s Narrative)

What is the divergence between gold and stocks telling us?  (Marketwatch)

Coffee prices are percolating higher.  (Street Sweep)

The USDA was behind the curve on corn crop estimates this year.  (WSJ)

More on the one-stop metal ETF:  the ETFS Physical Precious Metal Basket Shares (GLTR).  (IndexUniverse, 24/7 Wall St.)

Commodity prices higher, check.  Stand down Fed.  (The Reformed Broker)

Why isn’t the Russian ruble joining the commodity currency party?  (WSJ)

Strange goings on in the world of volatility and correlation.  (FT Alphaville)

The VIX vs. VIXX story just keeps getting uglier.  (Daily Options Report)

Strategy and Tactics

A look at how Bridgewater Associates racked up big returns YTD betting on the ‘d-process.’  (AR Screencast)

Don’t let your personal views infect your trading.  (Leigh Drogen)

On the proper use of contrarian analysis.  (Derek Hernquist)

Charles Kirk talks “one good trade” with Mike Bellafiore.  (Kirk Report)

How high dividend stocks have done over the long run.  (Insider Monkey)

ARTV with Chicago Sean.  (Abnormal Returns)


Wal-Mart (WMT):  the latest example of a company with a higher dividend yield than bond yield.  (ROI)

Airlines are on an earnings roll.  (Bloomberg)

Our long national nightmare is over.  General Growth Properties (GGP) emerges from bankruptcy.  (Dealbook)

What Bill Ackman may be looking for, i.e real estate, in JC Penney (JCP).  (ValuePlays)

The future of AIA, post-AIG.  (Economist)

Wall Street

Blackstone Group (BX) sees a “buyer’s market” for hedge funds.  (WSJ)

More on the Goldman-Blackstone trade.  (WSJ, NYTimes)

John Paulson has lowered his view on Bank of America (BAC) earnings.  (Forbes)

Checking in on the deals Warren Buffett made at the height of the financial crisis.  (Deal Journal)


Tim Geithner channels Keynes.  The world ignores him.  (Justin Fox, Calculated Risk, Money Game, Tech Ticker, Gavyn Davies)

Economic prognosticators oftentimes have a difficult time saying they were wrong.  (ValuePlays)

The tax code has got things all backward.  (Aleph Blog)

QE2 is coming:  a breakdown of the Fed’s voting members.  (Calculated Risk)


You can’t look the issues surrounding foreclosure-gate in isolation.  (Credit Writedowns)

Putting a number on the black hole that is Fannie and Freddie.  (WashingtonPost)

A mortgage madness linkfest.  (Big Picture)


Why is Amazon (AMZN) so highly valued against its peers?  (Fortune Tech)

Is Microsoft (MSFT) finally cheap enough?  (YCharts Blog)

Tim Cook runs a tight ship at Apple (AAPL).  (Apple 2.0)

On the changing, more diversified, nature of Silicon Valley.  (WSJ)

Kleiner Perkins’ sFund aims to make investments in the “third wave” of technology:  social media.  (Fortune Tech, Fast Company)

Netflix (NFLX) is becoming a big bandwidth hog.  (Infectious Greed also AllThingsD, NewTeeVee)

Off Wall Street

Is there really a dearth of innovation?  (Bespoke)

Justin Fox with an example of where high tax rates actually spurred innovation.  (Reuters)

Is there really anything to the idea of political momentum?  (FiveThirtyEight, Freakonomics)

On the limits of transparency.  (A VC)

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