Quote of the day

The next buy signal in silver will occur once everyone has stopped talking about it.”  (Dynamic Hedge)

Chart of the day

The REIT yield premium has vanished. REITs now yield less than the 10 year Treasury note.  (Capital Spectator)


The breakdown of the cyclical stocks.  (Crossing Wall StreetInvesting With Options)

Can the US dollar countertrend rally continue?  (Big Picture)

Soros played gold to a fiddle.  What happens if he goes short?  (Reformed Broker, Market Anthropology)

Yield blindness and managed distributions from closed-end funds.  (research puzzle pix)

Grains surge as weather continues to pressure plantings.  (WSJ, Bloomberg)

Any backward looking portfolio exercise is going to emphasize MLPs.  (Morningstar)

Hedge funds heart farmland.  (New York Observer)


Perspective matters.  On the use of different periods for stock charts.  (MercenaryTrader, Peter L. Brandt)

Ten stocks the “ultimate stock pickers” are buying.  (Morningstar)

Why trading can ramp up your dopamine levels.  (Big Picture)

Even the best quantitative models have “blind spots.”  (HBR)

The complications of trading a monthly system.  (Au.Tra.Sy Blog)

In defense of the Shiller P/E ratio.  (Buttonwood’s notebook)


The iPad is putting the hurt on consumer PC sales. (Bloomberg, NYTimes, Deal Journal)

Is Deere (DE) looking at ‘peak tractors’?  (WSJ, Bloomberg)

On the challenge of valuing Skype at $8.5 billion.  (Musings on Markets)

Carl Icahn is reportedly sniffing around Amgen (AMGN).  (Institutional Investor)

Are web companies overpaying to “acqhire” talent?  (NYTimes, SAI)


Investors don’t seem to care much about voting rights these days.  (peHUB)

Is Salesforce.com (CRM) an appropriate benchmark for LinkedIn (LNKD)?  (Bloomberg contra Mean Street)

For sale:  gently used auto finance company, formerly known as GMAC.  (Dealbook)

Oaktree Capital is moving towards an IPO.  (FT, Dealbook)


Hedge funds have gone on a leverage diet.  (WSJ)

Have hedge fund investors overestimated the actual dollar-weighted returns?  (Falkenblog)

Everything on Roger’s ETF wish list is pretty much crossed off.  What next?  (Random Roger)

The tax implications of floating NAV money market mutual funds.  (InvestmentNews)


FXCM (FXCM) is having a hard time acquiring customers these days.  (Money Game)

Peace of mind and your custodian.  (Financial Adviser)

If investors are prone to myopia, do we need incentives to lengthen investment time horizons?  (naked capitalism)


If inflation cools the BRICs could once again attract investor attention.  (Smart Money Europe)

Australia’s banks catch a downgrade.  (MacroBusiness, FT Alphaville)


ECRI on a slowdown in global economic growth.  (Daily Ticker, Minyanville)

From a Fed policy perspective is is too soon for TIPS implied inflation to come down?  (Economist’s View also Minyanville)

Taking the long view on home prices.  (ValuePlays, Climateer Investing)

The US manufacturing economy is bouncing back in a strong way.  (The Street Light)

If manufacturing is coming back in the US factories are going to need qualified workers.  (Term Sheet)

Earlier on Abnormal Returns

The muni bond market has shrugged off Meredith Whitney’s dire calls to-date. (AR Screencast)

What you missed in our Wednesday morning linkfest.  (Abnormal Returns)

Mixed media

Stop worrying about aggregators and recognize their ability to add value.  (Felix Salmon)

How it is that the powerful “rationalize away their ethical lapses.”  (The Frontal Cortex)

Which real life characters will enjoy the new HBO movie Too Big to Fail?  (Dealbreaker)

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