Quote of the day

Kid Dynamite, “Myspace’s new depressed price should serve as a warning to investors slapping ginormous valuations on companies which have yet to prove their abilities to be a long run force in their respective fields.”  (Kid Dynamite)

Chart of the day

The market looks cheap only because megacaps look cheap.  (MarketBeat)


The Dow Jones Transport index is flirting with new highs.  (All Star Charts)

And the consumer discretionary sector IS at new highs.  (Bespoke)

Is the pullback in the industrial sector over?  (Minyanville)


How to short bonds.  (Tyler’s Trading)

How past trading successes affects the way we trade in the present.  (SMB Training)

Want to trade better?  Get a good night’s sleep.  (SFGate)

Thinking it about why a fund should (or should not) outperform the market.  (Capital Spectator)

Some classic nuggets to start your week from Jesse Livermore.  (Stock Sage)


Apple ($AAPL), and Steve Jobs, as masters of the technology supply chain.  (Apple 2.0)

$RIMM vs. $AAPL revisited.  (Dynamic Hedge)

Netflix ($NFLX) pushes south of the border.  (MarketBeat)

Building a 4G wireless network costs real money people.  (Dealbreaker)

Hedge funds

Hedge fund seeders have no shortage of options these days.  (Dealbook)

John Paulson did just fine on the bankruptcy of Lehman Brothers.  (FT)

The carried interest debate:  compensation or capital gain?  (NetNet)


Since when does private equity buy biotechs?  (Dealbook)

Wall Street is getting down and dirty as they enter the metal warehousing business.  (WSJ)

Will currency-hedged international equity ETFs ever catch on?  (IndexUniverse)

High frequency trading is taking over the forex markets.  (The Source)


Brazil has a consumer debt problem.  (FT, beyondbrics)

China has a local government debt problem.  (Bloomberg, Money Game)

Europe has an Italy problem.  (Bloomberg)

The fiscal legacy of Margaret Thatcher, pragmatist.  (Economix)


The Fed as enforcer.  (Gavyn Davies)

Looking forward to a better second half for the economy.  (Econbrowser)

Some of the odd stuff that would get affected by a US downgrade.  (FT Alphaville)

What the IEA accomplished.  (Free exchange)

Earlier on Abnormal Returns

Corporate America is embracing the spinoff as a means of enhancing shareholder value.  (AR Screencast)

Why you need a detailed investment philosophy.  (Abnormal Returns)

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

Mixed media

Notes from the final Wesco-related conversation with Charlie Munger.  (Inoculated Investor also Bloomberg)

A rave review for Larry Light’s Taming the Beast:  Wall Street’s Imperfect Answers to Making Money.  (Reading the Markets)

Bookstores will soon cease to serve as a viable public spaces.   (Prospero)

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