Quote of the day
Hunter, “Any issuer would be foolish right now not to aggressively reprice their bank facility or significantly relax (or remove) covenants.” (Distressed Debt Investing)
Chart of the day
The market has voted, it hates the AOL (AOL) content strategy. (Money Game)
Markets
A look at the NYSE new high-new low ratio. (Chris Perruna)
Another look at inflation expectations, via inflation swap rates. (the research puzzle)
Crossover buyers are pushing munis higher. (Money Game also Institutional Investor)
Profit margins: higher utilization vs. higher prices paid. (Money Game)
Strategy
Carl Richards, “Don’t just do something, stand there.” (Bucks Blog)
Mike Bellafiore, “Never blame anyone else for your losses. Never.” (SMB Training)
Ten cool things about daytrading. (The Reformed Broker)
Independent advisers heart ETFs. (IndexUniverse)
Technology
The implications of a post-PC world. (Asymco also GigaOM)
$0.99 e-books are coming faster than you think. (The Technium)
Another competitor jumps into the video streaming space. (The Reformed Broker)
The upside (and downside) of further consolidation amongst hard drive makers. (WSJ)
Companies
Earnings guidance is going the way of the buggy whip. (Herb Greenberg)
Warren Buffett does not like parting with Berkshire Hathaway (BRKB) stock. (Bloomberg, Deal Journal)
An in-depth look at the Glencore IPO. (The Source, Dealbook)
Hedge funds
Can D. E. Shaw turn it around? (The Exchange)
Showdown in the Sunshine State: Berkowitz vs. Einhorn. (The Atlantic)
Carl Icahn is returning outside capital in his hedge fund. (Dealbook, Fortune Finance)
Global
Quantifying what countries get hurt by higher oil prices. (beyondbrics)
More doubts on Saudi Arabia’s ability to increase oil production. (FT Alphaville, The Source, ibid)
US vs. China: in search of money supply growth. (Pragmatic Capitalism)
More mouths to feed requires a new approach to agriculture. (The Source)
Economy
Small business optimism rises. (Calculated Risk, Bespoke)
Rail traffic continues to expand. (Pragmatic Capitalism)
There is no NFP ‘whisper number.’ (Big Picture)
Why the Fed should ignore calls to tighten policy in light of higher commodity prices. (Tim Duy)
Cool graphic. The 12 states of America. (The Atlantic)
Earlier on Abnormal Returns
Is a worsening flu season going to act as a catalyst for drug retailer CVS (CVS)? (AR Screencast)
On the benefits of putting yourself on a news diet. (AR Screencast)
Our Tuesday morning live link look-in. (Abnormal Returns)
Mixed media
What does your social network look like? (HBR)
More takes on the Time list of the 25 best finance blogs. (chessNwine, Modeled Behavior, Calculated Risk, Rortybomb)
Abnormal Returns is a founding member of the StockTwits Blog Network.
