Quote of the day

Nathan Myhrvold, “Risks with heavy consequences must be taken seriously even if the probability of their happening tomorrow is low.”  (Bloomberg)

Chart of the day

How you look at this indicator depends on whether we are still in a bull market.  (Trader’s Narrative)


A look at cash on the balance sheet as a percentage of market cap.  (MarketBeat, Pragmatic Capitalism)

The auto stocks are bouncing.  (Dragonfly Capital)

A look at historical sector P/E ratios.  (Bespoke)


Maybe the FedEx ($FDX) indicator is overrated?  (MarketBeat, WSJ )

On applying an investment discipline overseas.  (Institutional Investor)

Abandoning book-to-market as a valuation metric. (Greenbackd)


Rohan Clark, “If nothing else, the growing presence of investors increases the potential for extreme movements in commodities prices.”  (Data Diary)

Ethanol never made sense, especially today.  (Minyanville also The Source)


How much difference can an executive make to a company.  (research puzzle pix)

Why Warren Buffett wouldn’t buy Research in Motion ($RIMM).  (The Reformed Broker)


Takeaways from the Oaktree S-1.  (Distressed Debt Investing)

Fidelity launches some target date muni bond funds.  (InvestmentNews)


Have we already gone too far in regulating the banks?  (naked capitalism)

Expect M&A activity to ramp up as companies look for growth just about anywhere.  (Free exchange)

How insider trading becomes endemic.  (Felix Salmon)

Venture investors need to recognize that $100 million exits are not all that common.  (TechCrunch, A VC)


Applying Occam’s Razor to the situation in Greece and Europe.  (The Source)

Canada has avoided a US-style balance sheet recession.  (Economist’s View)

Some traders fearing an economic bubble are betting against the Chinese yuan.  (WSJ)

Emerging markets

MSCI still thinks Korea and Taiwan are still emerging markets.  (IndexUniverse, beyondbrics)

Peter Tasker, “Markets appear to have discounted a smooth and painless path to development for the entire emerging world. ”  (FT)


Have negative economic surprises bottomed out?  (Big Picture, Trader’s Narrative)

Different approaches on the issue of structural unemployment.  (Credit Writedowns, Stone Street Advisors, The Atlantic)

Earlier on Abnormal Returns

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

Hedge fund size matters for performance, just don’t tell Bridgewater Associates.  (AR Screencast)

Mixed media

Blogs aren’t dead, what is dead is “the idea that everybody should have a blog.”  (inessential via Om)

Is this the next, new thing in cameras?  (NYTimes)

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.