Quote of the day
“This game is not about being right or wrong, it’s about making money. Many rather lose money than admit that they are wrong.” (ZorTrades)
Chart of the day
When a reliable trade blows up. (Dynamic Hedge)
Markets
A look at the VIX divergence. (Investing With Options)
The case for higher gold prices. (The Source)
Ten big ag trends including “peak fish” and the “agriculture put.” (The Reformed Broker)
Are we in the midst of a ‘commodities supercycle‘? (Trader’s Narrative)
Strategy
Can Wall Street survive the end of QE2? (A Dash of Insight)
Learning to let your winners run. (Phil Pearlman)
On the prospects for a stagflationary bond bear market. (market folly)
“Absolute return” is a fund description not necessarily a single strategy. (Bloomberg)
Research
What matters in determining mutual fund performance. (World Beta)
Industry information and the 52-week high effect. (SSRN via FinanceProfessor)
How does relative strength perform during period of high inflation? (Systematic Relative Strength)
Whatever happened to hedge fund replication? (Falkenblog)
ETFs
Now firms are raiding existing open-end mutual funds to seed ETFs. (IndexUniverse)
Why understanding the inner workings of ETFs is important. (FT Alphaville, ibid)
Some high dividend ETFs. (All ETF)
Finance
JP Morgan Chase (JPM) earnings. (Deal Journal, Crossing Wall Street, Dealbook, Street Sweep)
The TBTF banks are the new GSEs. (Big Picture)
How SecondMarket works. (Felix Salmon)
Global
Going to Europe this summer? Buy Euros now. (The Source)
Fitch gets anxious about Chinese credit expansion. ( Money Game, FT Alphaville)
No matter how you slice it the world’s population is aging. (Bespoke)
Economy
Retail sales ex-gasoline edge higher. (Calculated Risk, Carpe Diem)
What items is really showing inflation/deflation? (Big Picture)
Energy volatility and GDP growth. (Bonddad Blog)
A hundred year look at housing prices. (Big Picture)
Inaction as a means of deficit reduction. (Slate, NYTimes)
Earlier on Abnormal Returns
Shouldn’t more ETFs have closed by now? (AR Screencast)
Our Wednesday morning live link look-in. (Abnormal Returns)
Mixed media
Dan Primack, “The Detroit Pistons are about to become the first NBA franchise to be owned by a private equity fund.” (Term Sheet)
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