Quote of the day
Alexandra Stevenson, “But not all investors are convinced that investing in EM-exposed DM equities offers any meaningful exposure to emerging markets.” (beyondbrics)
Chart of the day
Netflix (NFLX) is a cautionary tale for any out there who think shorting is easy. (Bespoke)
Video of the day
60 Minutes brings mortgage servicing fraud into the mainstream. (CBS News also naked capitalism, Big Picture, Credit Writedowns)
Markets
Small caps (and mid caps) break to new highs. (Crossing Wall Street, Bespoke)
Don’t read too much into recent VIX action. (InvestorPlace)
Munis have bounced. What next? (the research puzzle also NetNet, FT Alphaville)
Breadth is confirming recent market highs. (Dynamic Hedge)
Strategy
How some traders misuse LEAPS. (Tyler’s Trading)
Sign of the times. Many emerging market managers are at capacity. (Pensions & Investments)
How past capital losses by a mutual fund can be an asset for investors going forward. (WSJ)
Companies
Not surprisingly the story behind GE’s (GE) tax bill is more complicated than it appears on first glance. (Fortune, Felix Salmon)
Will the Glencore IPO be a Blackstone (BX) moment for the commodities rally? (The Reformed Broker)
On the publicity value of the NYSE Euronext (NYX) trading floor. (Bloomberg)
The pharmaceutical industry is broken. (Felix Salmon)
Finance
The question of what constitutes insider trading keeps getting more complicated. (Felix Salmon)
Asset management firms, like Pimco, are likely to have their equity traded on secondmarket. (Term Sheet)
Clients apparently prefer investment advisors with higher fees. (InvestmentNews)
How much mischief could a HFT malware attack cause? (Big Picture)
Global
On the state of the global manufacturing recovery. (Pragmatic Capitalism)
What good are China’s banks? (FT Alphaville)
Are large scale asset purchases driving commodity prices higher? (Alea Blog)
Economy
The effect that a ZIRP has had on retiree income has been underplayed to-date. (WSJ, Economist’s View, Free exchange, Fund My Mutual Fund)
On the divergence between the market’s perception of future ECB and Fed actions. (Credit Writedowns)
What do the jobs numbers actually say about the strength of this recovery? (Big Picture)
Population growth does not necessarily mean a state is an “economic winner.” (The Atlantic)
Earlier on Abnormal Returns
The forex retail game is stacked against novice traders. (AR Screencast)
Our Monday morning live link look-in. (Abnormal Returns)
Blogosphere
Happy blogiversary to Hunter. (Distressed Debt Investing)
The successor to the now defunct FundAlarm is up. (Mutual Fund Observer)
Mixed media
In praise of Internet distractions. (New Yorker earlier Abnormal Returns)
Ten reasons you need to quit your job. (Altucher Confidential)
How Las Vegas turns our brains into mush. (Farnam Street)
Abnormal Returns is a founding member of the StockTwits Blog Network.
