Quote of the day
Josh Brown, “Everyone is now wishing they were 100% invested in stocks. I’m not 100% long. You probably aren’t either. Sure, we’re long – but is anyone “long enough” for this?” (The Reformed Broker)
Chart of the day
A divergence in new highs. What does it imply for the stock market? (StockCharts Blog)
Markets
Sector review: just about everything is going up. (Dragonfly Capital)
A review of equity sentiment at week-end. (Trader’s Narrative)
What has happened subsequent to a market that goes up in a straight line for six months? (Bespoke)
Technology stocks, especially chips, have led this market higher. (WSJ)
The stocks hedge funds love, as of Q4. (Zero Hedge)
Strategy
Are investors chasing the market higher due to shortfalls in their 401(k) plans? (Money Game, WSJ)
Robert Prechter and Jeff Gundlach really don’t like stocks. (NYTimes, Pragmatic Capitalism)
Investors really don’t like big macroeconomic releases. (CBS Moneywatch)
Nathan Hale, “Saving as much as you can for as long as you can has a far greater impact on your likelihood for success than your ability to find the next hot mutual fund.” (CBS Moneywatch)
Technology
Fred Wilson, “We can and should stimulate the development of some additional layers of capital markets between the VC market and the current IPO market.” (A VC)
Why can’t Google (GOOG) advance the ball on search? (TechCrunch)
Sometimes you just don’t know where a business will take you: the case of Ignighter.com. (NYTimes)
Finance
Nasdaq (NDAQ) and the CBOE (CBOE) are looking for dance partners. (Barron’s)
Has the E-Trade (ETFC) baby hurt the company more than it has helped? (Businessweek)
A smartphone ETF. Seriously? (IndexUniverse)
Will big banks win more mortgage origination business due to new mortgage broker rules? (NYTimes)
Currency
Despite a drop in emerging market equities, emerging currencies have held up. (beyondbrics)
Fun with the Big Mac Index. (macrofugue)
The real value of the renminbi and the Chinese inflation dilemma. (macroblog)
Economy
The St. Louis Fed Financial Stress Index is back to levels last seen in the fall of 2007. (Carpe Diem)
No wonder so much money is sitting overseas. The US is the only country that taxes repatriated earnings. (WSJ)
What does government increasingly do? Cut checks to individuals. (Aol News, Carpe Diem, Calafia Beach Pundit)
Earlier on Abnormal Returns
Top clicks this week on Abnormal Returns. (Abnormal Returns)
Our Saturday long-form links. (Abnormal Returns)
Errata
In praise of a handshake deal because “Complete contracts are inevitably imperfect.” (Dan Ariely)
Tomorrow’s world is already here today. Time to adapt. (Information Arbitrage)
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