Quote of the day
chessNwine, “There is a time and a place for everything, but going full pedal to the medal all of the time as a trader is long-term money losing strategy.” (chessNwine)
Chart of the day
The fall in the Japanese stock market in perspective. (Bespoke, ibid)
Tweet of the day
“This year, there have been 95 dividend increases in the S&P 500 and ZERO decreases.” (Eddy Elfenbein)
Markets
Why isn’t the VIX higher? (InvestorPlace also Pragmatic Capitalism)
Advisors are getting nervous. (Marketwatch)
Checking in on the slope of the yield curve. (the research puzzle)
Strategy
Barry is getting marginally longer. (Big Picture)
On the difficult transition from floor trader to screen trader. (Points and Figures)
Day traders who go with the flow earn more. (Science News via @pkedrosky also SMB Training)
Options add dimensionality to typical stock decisions. (Tyler’s Trading)
Where you hold your assets matters from a tax perspective. (Morningstar)
Perspective
How to avoid panic on a day like today. (Forbes)
Stop losses protect you from your own [wrong] assumptions. (The Reformed Broker)
Now is a time when the differences between risk and uncertainty are stark. (Don Fishback)
Carl Richards, “Too often, money drives the enabling.” (Bucks Blog)
Companies
Does the RIMM Playbook have a shot against Apple’s iPad? (Reuters)
Guess who is one of the biggest losers in the China Media Express (CCME) debacle? (Bronte Capital)
Did Buffett overpay for Lubrizol (LZ)? (Bloomberg, WSJ, Breakingviews)
Sometimes the next deal you make is the one you miss out on, the case of Hershey (HSY). (WSJ)
Finance
Nasdaq OMX (NDAQ) really wants NYSE Euronext (NYX). (WSJ, Deal Journal, Dealbook, The Source)
Wall Street loves [false] certainty. (Jeff Matthews)
This Calpers news is not going to strengthen the argument for public pensions. (LATimes, Dealbook)
Japan
Four reasons why Japan’s market may be a buy. (Money Game)
Japanese stocks are as cheap as they have been in decades. (ROI)
Long term perspective on Japan’s stock market. (Crossing Wall Street)
Japanese bank portfolios are taking huge losses. (FT Alphaville)
Does Japan mean the end of the ‘just in time‘ revolution? (Confessions of a Macro Contrarian)
How will Japan pay for reconstruction? (Free exchange)
Japan ranks 18th on the Institutional Investor Country Credit Ratings survey. Where will it be next time around? (Institutional Investor)
Don’t donate money to Japan. (Felix Salmon contra Capital Spectator)
Global
Emerging markets have seemingly not given up their nuclear ambitions. (NYTimes, Breakingviews)
What about Europe’s nuclear industry? (FT Alphaville, Global Macro Monitor, The Source also 24/7 Wall St.)
Food price uncertainty is here to stay. (WashingtonPost)
Economy
Have we run out positive economic surprises? (Pragmatic Capitalism, Data Diary)
The construction business isn’t dead, it just isn’t concentrated on new homes. (Calculated Risk also MarketBeat)
Kid Dynamite, “Could the Fed stop QE and then re-start it if things turn sour? ” (Kid Dynamite)
Domestic inflationary pressures are growing. (Buttonwood, DailyFinance)
What lessons does Japan for the US’ fiscal situation? (Real Time Economics, Breakingviews, Expected Returns)
Mixed media
Pro the startup visa bill. (A VC)
When talking about radiation let’s be precise in what we say. (self-evident)
Our Tuesday morning live link look-in. (Abnormal Returns)
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