Quote of the day
Paul Amery, “It’s also debatable whether there ever was a golden age of plain vanilla ETFs, which were then superseded by all these nasty complex ones.” (FT Alphaville)
Chart of the day
How overextended is silver? (Expected Returns, Pragmatic Capitalism)
Markets
Contrarian indicator? Gold on the front page of the WSJ. (Big Picture)
An option for those who think they really need to short silver. (IndexUniverse also Bespoke)
Small cap stocks are all-time highs. What next? (chessNwine)
Retail investors really don’t like financials. (Trader’s Narrative)
More commodity ETNs coming to market. (ETFdb)
Strategy
David Merkel, “When everything is strong, be careful.” (Aleph Blog)
Price targets, especially for precious metals, are a fool’s errand. (The Reformed Broker)
How to buy uranium at a discount. (Marketwatch)
In praise of retail forex trading. (StockTwitsFX)
Companies
An Apple (AAPL) valuation matrix. (Global Macro Monitor)
No one really knows what Apple is going to do with its bulging cash hoard. (Dealbook)
McDonalds (MCD) is feeling costs pressures. (Reuters)
Chalk another one up for Warren Buffett and his merry band of sweetheart deals. (Deal Journal)
Finance
What are Wall Street analysts good for? (Pragmatic Capitalism)
Beware the high priests of muni finance. (NetNet)
Will a $30 million fine get the attention of energy traders? (Dealbreaker)
Fidelity proposes raising fees, apparently it doesn’t understand the world has changed. (Morningstar)
Global
How Canada is dealing with its budget deficit. (Real Time Economics)
Economy
Rail traffic remains on track. (ValuePlays)
Earlier on Abnormal Returns
ARTV on actively managed ETFs. (Abnormal Returns)
Mixed media
More financial iPad app reviews. (VIX and More)
Abnormal Returns is a founding member of the StockTwits Blog Network.
