Quote of the day
David Kocieniewski, “Video game developers receive such a rich assortment of incentives that even oil companies have questioned why the government should subsidize such a mature and profitable industry whose main contribution is to create amusing and sometimes antisocial entertainment.” (NYTimes)
Chart of the day
The US Dollar Index is breaking out of its range. (Bespoke)
Markets
What are the implications of a stronger US dollar? (Market Anthropology)
The S&P 500 and the Euro have been trading together of late. (StockCharts also Afraid to Trade, Climateer Investing)
Meredith Whitney it’s the muni bond market on line one… (MarketBeat)
Want dividends? Go to Europe. (WSJ)
Strategy
The past decade has been dominated by macro forces. How to cope. (WSJ)
Analysts do a poor job of estimating earnings at turning points in the economy. (WashingtonPost)
Chess, “As traders we have to continually adjust appropriately to the moving target known as the market.” (chessNwine)
Good traders don’t look for conspiracies behind every stock move. (SMB Training)
On evaluating market commentators. (Investing Caffeine)
Companies
Why some of Apple’s ($AAPL) advantages cannot be copied by other companies. (Daring Fireball)
A REIT spread trade. (Dynamic Hedge)
When does the board need to take some responsibility for the mess that is Yahoo! ($YHOO)? (The Reformed Broker)
If you don’t know Hadoop you should. (Businessweek)
Great companies have a unique “voice.” (A VC)
Finance
Mortgage bond math and the effects of a mass mortgage refinancing. (Dealbreaker also Megan McArdle)
Conflicts of interest are rife in investment banking. (Deal Journal)
Who are the real 50 most influential people in finance? (Big Picture)
A reintroduction of Glass-Steagall would save banking, not kill it. (Telegraph)
Global
The risk from an implosion in Europe is incalculable. (Pragmatic Capitalism also Free exchange)
Rumblings in Europe as talk of a Greek default escalates. (Global Macro Monitor)
It looks more likely that the Euro will lose a member or two. (Credit Writedowns)
David Merkel, “The world yearns for debt relief.” (Aleph Blog)
On the black box that is the Chinese economy. (Pragmatic Capitalism)
Economy
Economic statistics are once again surprising on the upside. (Money Game, ibid)
Another soft month for rail traffic. (Calculated Risk)
How to make business want to invest again. (NYTimes)
The economy is facing structural issues that cyclical policies are only making worse. (Global Macro Monitor)
Earlier on Abnormal Returns
What you missed in our Saturday long form linkfest. (Abnormal Returns)
Top clicks this week on Abnormal Returns. (Abnormal Returns)
Mixed media
How Greg Harmon gets the most out of StockTwits. (Dragonfly Capital)
StockTwits is sponsoring Tuesday’s Children to mark the anniversary of 9/11. (StockTwits)
Abnormal Returns is a founding member of the StockTwits Blog Network.
