Quote of the day

Floyd Norris, “So far this year, both gold and stocks are up. That combination is unlikely to last out the current decade.”  (NYTimes)

Chart of the day

The story behind how the World Gold Council helped create the spectacularly successful SPDR Gold Trust (GLD).  (WSJ)


Bullish sentiment remains high.  (Pragmatic Capitalism, Horan Capital Advisors)

Some market rules that just aren’t working.  (WSJ)

An early look at historical December performance.  (Trading the Odds)

Keeping an eye on the big Spanish bank, Banco Santander (STD).  (Money Game)

US consumer vs. Euro contagion.  (The Reformed Broker)

Mark Hulbert, “Take the initial news reports about Black Friday with a grain of salt.”  (Marketwatch)

Strategy and Tactics

Commodities investing is made more complicated by the need to decide on the proper vehicle.  (Can Turtles Fly?)

One high yield manager now prefers stocks.  (Businessweek)

Some books that may change your thinking.  (Reading the Markets)


What explains the bull market in shoe makers? (Bespoke)

Extracting news from the Twitter stream.  (GigaOM)

Cable companies will not do down without a fight.  (Lex)


Where the private equity guys are looking.  (Points and Figures, Dealbook)

The IPO window is open for private equity firms.  (Businessweek)

Jesse Eisinger, “Defining proprietary trading is extremely difficult because it’s almost impossible to distinguish from making markets.”  (Dealbook)

Currency derivatives may get a pass from more onerous regulation.  (Businessweek)

Build America Bonds are likely to get another year.  (WSJ)

Insider Trading

On the proliferation of expert networks.  (Bloomberg)

The government’s case against insider trading seems to be gaining steam.  (WSJ)

Paranoia is spreading on Wall Street.  (Dealbook)

Hedge fund investors HATE investigations.  (Clusterstock)

Why hedge funds are at the center of the insider trading scandal.  (Aswath Damodaran)

Roger Ehrenberg, “But let’s be clear: fairness does not mean equal. It means equal opportunity. And the sharing of material non-public information does not permit equal opportunity.”  (Information Arbitrage)


Why 2011 looks better.  (Free exchange)

The consumer seems to be on firmer ground.  (Real Time Economics, ibid)

Lower jobless claims=higher stock prices.  (Money Game)

Still little sign of inflation.  (Pragmatic Capitalism, ValuePlays)

Truck tonnage rose in October. (Calculated Risk)


Spain would be a bailout too far.  (NYTimes also FT Alphaville)

The downside of the Australian boom.  (Data Diary)

Are Chinese banks running low on cash?  (FT Alphaville)

Black Friday

Black Friday expectations are high.  (NYTimes)

Black Friday is a trap.  (ROI)

Thanks for this day Wal-Mart (WMT). Phil Pearlman)

Save money, spend less.  (Random Roger)

Thanks for checking in with Abnormal Returns. For all the latest you can follow us on StockTwits and Twitter.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.