Quote of the day

David Merkel, “When yields are so low, it is time to avoid yield and preserve capital.  The time to seek yield is when yields are high, and no one wants to part with money to lend to them.”  (Aleph Blog)

Chart of the day

The US dollar is still in a bear market.  (Pragmatic Capitalism, Dragonfly Capital)


Market timers are bullish, just not all the confident these days.  (MarketBeat)

The week after Memorial Day has some marked seasonal tendencies.  (Quantifiable Edges)

Corporate America is awash in cash, yet dividend payout ratios are at historical lows.  (WSJ)

Where’s the ‘great bond selloff‘?  (WSJ, NYTimes)

A risk reversal in sector performance this past week.  (Dynamic Hedge)

A look at S&P 500 sector weights.  (Bespoke)


How “magic” is the magic formula for investing?  (Empirical Finance Blog)

Research shows that options volume spikes before companies announce expected AND unexpected news.  (Barron’s)

Where are the winners hiding?  (Derek Hernquist)

Doug Kass’ favorite short is the retail sector.  (Focus on Funds)

Davidson, “Those who look for mathematical precision in markets miss its fundamental nature.”  (ValuePlays)


In defense of tracking hedge fund stock picks.  (World Beta)

What hedge fund isn’t involved with Delphi Automotive.  (market folly)

All of a sudden there is a rush of BDC ETFs.  (IndexUniverse)


What’s LinkedIn (LNKD) going to do with all their cash?  (peHUB)

What happens to the publishers if Amazon (AMZN) becomes a serious competitor?  (The Reformed Broker)

Groupon is for the moment “making words pay.”  (NYTimes)

Fracking comes to the oil patch.  What are the implications for domestic oil production?  (NYTimes)


This China ETF is holding up much better than the Shanghai Composite.  (Bespoke)

Capital is flowing out of Russia.  (Breakingviews)


The state of the housing economy depends in part on which index you use.  (NYTimes)

Americans are doing a good job of curbing their demand for gasoline.  (WSJ)

Secret Fed loans were not all that secret.  (macroblog)

How government regulation of innovation is like ‘pebbles in a stream.’  (NYTimes)

How good are our estimates of health care inflation?  (Economist’s View)

Earlier on Abnormal Returns

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

What you missed in our Saturday longreads linkfest.  (Abnormal Returns)

Mixed media

Is the technology-driven ‘education revolution‘ finally here?  (WashingtonPost)

Abnormal Returns is a founding member of the StockTwits Blog Network.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.