Quote of the day

Josh Brown, “[Warren Buffett] doesn’t owe you answers for anything.”  (The Reformed Broker)

Chart of the day

Some stocks, like Apple (AAPL) have already consolidated.  (chessNwine)


Equity sentiment at week-end.  (Trader’s Narrative also Marketwatch)

Earnings in every sector are coming in ahead of expectations.  (WSJ)

Check out the spread between the S&P 500 and its equal weighted version.  (All ETF)

Deja vu.  An Intel (INTC) earnings reaction.  (Tyler’s Trading)

Interest in copper is waning.  (Data Diary)


On the attraction of the consumer discretionary sector.  (Dragonfly Capital, TRB)

Where one TAA model stands at month-end.  (MarketSci Blog)

Where did all the cheap stocks go?  (Can Turtles Fly?)

When alpha becomes beta.  (Clusterstock)


Who is actually buying leveraged ETFs?  (Felix Salmon)

Investors in leveraged ETFs need to take responsibility for their actions.  (Stone Street Advisors)

Why the yield on your TIPS fund may be misleading.  (WSJ)

What happens to a leveraged closed-end fund when interest rates rise?  (Morningstar)

Berkshire Hathaway

Berkshire Hathaway (BRKA) insurance operations are going to take a hit.  (Deal Journal)

On Buffett’s bankroll.  (Texas Hold’em Investing)

Buffett is not happy with David Sokol.  (Bloomberg, Dealbook, Breakingviews)


Can Goldman Sachs (GS) short Facebook shares?  (NetNet)

Foreign exchange transactions avoid the Dodd-Frank treatment.  (WSJ)

So where did all the LBOs go?  (Term Sheet)

Are money manager CEOs worth what they are paid?  (CBS Moneywatch)


The destruction of economic facts.  (Big Picture)

We need new statistics to measure the new economic realities.  (NYTimes)

What if you got rid of the Fed, then what?  (NYTimes)

Post-financial crisis recoveries are historically a weak lot.  (Economix)

What Ben Bernanke should have said.  (Ezra Klein)

The Chinese manufacturing economy is slowing.  (Bloomberg)

Earlier on Abnormal Returns

Our Saturday long form linkfest.  (Abnormal Returns)

Top clicks this week on Abnormal Returns.  (Abnormal Returns)

Mixed media

Microsoft (MSFT) looks cheap, then again it always looks cheap.  (Businessweek, WSJ)

What economics could learn from medicine.  (FT)

An interesting talk with Jonathan Clements author of The Little Book of Main Street Money.  (Tradestreaming)

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