Quote of the day

Mike Bellafiore, “Prop traders are the truest of entrepreneurs.’  (SMB Training)

Chart of the day

The long anticipated gold miner breakout is here.  (StockCharts Blog)


A bad August often leads to volatile Septembers.  (Quantifiable Edges)

Can bonds serve as a safe haven if they are grossly overvalued?  (Above the Market)

A world without a risk-free rate is one not current contemplated by financial models.  (FT)


Industries I won’t invest in.  (The Value Major)

The war on savers is no small matter.  (Fundmastery Blog)

True contrarians often seem crazy, until they are proven correct.  (Bronte Capital)

Dan Loeb is still bearish.  (Institutional Investor)


Are Apple ($AAPL) shares being held down by the market’s ‘crisis phobic’ culture?  (Asymco)

A company’s stock price it the “ultimate measure” of success until it comes time to pay the CEO.  (research puzzle pix)

The Groupon IPO hits another snag.  The SEC might delay it for violating the quiet period.  (Dealbook)


Blackrock ($BLK) wants to offer non-transparency active ETFs.  (IndexUniverse)

Regulators are interested in high frequency trader’s “secret sauce.”  (Reuters)

Forget Bank of America ($BAC) the Modern American Bank is coming.  (MuniLand)

A surge in mortgage refinancings is getting tripped up by leaner banks.  (Bloomberg)

Why is the Fed greenlighting bank share buybacks?  (WSJ)


The SNB is having a hard time keeping the Swissie down.  (The Source)

More on Brazil’s surprise decision to cut interest rates.  (Economist)


The US economy created zero net jobs in August.  (Calculated Risk, Money Game, ibid, Capital Spectator, Real Time Economics, Mark Thoma, Bonddad Blog, Atlantic Business, Curious Capitalist, Rortybomb, CBP)

On the prospects for Operation Twist.  (Pragmatic Capitalism)

The ECRI WLI continues to fall.  (MarketBeat)

The government can borrow at negative real interest rates.  Why not?  (Credit Writedowns, Modeled Behavior)

Government debt issues aside, business investment has been the star of the recovery.  (Money Game)

Earlier on Abnormal Returns

ETFs are big news, but still pale in comparison to open-end mutual funds.  (Abnormal Returns)

Who besides fund sponsors actually need non-transparent, actively managed ETFs?.  (Abnormal Returns)

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

Mixed media

Is the PC dead or simply evolving?  (Time)

The CrunchFund controversy.  (Term Sheet, SAI, Felix Salmon)

August was a big news month.  (Speakeasy)

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