Quote of the day

Robert Shiller, “So land manias have been rather infrequent, many decades apart. They suggest that the recent housing bubble is a similarly rare event, not to be repeated for many decades.”  (NYTimes)

Chart of the day

Chip Anderson, “The goal of any serious investor is to continually develop a set of signals that they trust and then use prudent money-management techniques to limit losses and profit from gains.”  (StockCharts Blog)

Markets

Equity market sentiment at week-end.  (Trader’s Narrative, The Technical Take)

Market breadth is still supportive of a further rally.  (StockCharts Blog)

Risk on/risk off seems to be easing as asset class correlations wane.  (ETF Trends)

This quarter there has been a 4.5% spread in one-day returns between companies that beat and those that miss earnings estimates.  (Bespoke)

Strategy

Preferred stocks are hot.  Has everyone already forgotten the financial crisis?  (WSJ)

Howard Marks still can’t find any bargains.  (Deal Journal, Dealbook)

How can traders “turn negative energy into hyper focus“?  (SMB Training)

Funds

Who makes what in hedge fund land.  (market folly)

Russell is building indices based on a stock’s ‘stability.’ (IndexUniverse)

There is more to the emerging markets ETF horse race than EEM and VWO.  (IndexUniverse)

Finance

M&A activity is booming in 2011.  (Term Sheet)

Nasdaq (NDAQ) hacked.  Is this the wave of the future?  (WSJ, ibid)

Happy 40th birthday to the Nasdaq Composite.  (Crossing Wall Street)

Global

Michael Pettis, “BRICs are a great marketing concept with which to sell emerging market paper, but the idea that they have the same global interests requires that you squint ferociously when you look at them.”  (china financial markets)

What has foreign exchange intervention accomplished for countries like Brazil?  (Real Time Economics)

Betting on (or against) China is still not as easy as it could be.  (WSJ)

Economy

There is nothing in the latest jobs report to dissuade you from thinking the economic recovery is ongoing.  (Econbrowser)

On the challenges of economic forecasting and the ongoing slow recovery in employment.  (Economist’s View)

Why the human genome project has made much progress in terms of medical outcomes yet.  (Michael Mandel)

Earlier on Abnormal Returns

Top clicks this week on Abnormal Returns.  (Abnormal Returns)

Financial blogging secrets revealed.  (Abnormal Returns)

Errata

How some topics on Twitter become popular and others don’t.  (NYTimes)

Close Super Bowls are a rarity.  (FiveThirtyEight)

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