Quote of the day
George Magnus, “Put simply, the economic model that drove the long boom from the 1980s to 2008, has broken down.” (FT)
Chart of the day

No wonder everyone is talking about ETFs these days. (Ticker Sense)
Markets
Taking the long view on stocks paints a brighter picture. (WSJ contra Crossing Wall Street)
A look at a really long term trendline. (Market Anthropology)
Defensive sectors continue to lead the market. (Dragonfly Capital)
Stock market volatility is the new normal. (NYTimes, Big Picture, TRB)
The stock market can’t go up until inflation expectations stabilize. (Capital Spectator)
Strategy
Equity returns by credit rating. (Falkenblog, TRB)
Does indexing work in emerging markets? (CBS Moneywatch)
On the differences between professional and retail traders. (Trader Habits)
Companies
McGraw-Hill ($MHP) splits into two separate companies. (WSJ, Dealbook, Bloomberg)
Does Amazon ($AMZN) have it wrong when it comes to book rentals? (Minyanville)
The turnaround in Restoration Hardware. (Term Sheet)
Money management
Berkshire Hathaway ($BRKB) hires another investment manager. (Term Sheet, Bloomberg, Dealbook)
Where Bill Gross went wrong in 2011. (Bloomberg)
The September 2011 ETF Deathwatch is here. (Invest With An Edge)
Finance
What is Goldman Sachs ($GS) worth? (MarketBeat)
What role should private equity have in jobs equation? (peHUB)
What is Jamie Dimon talking about? (Felix Salmon)
Global
Events that were once “inconceivable” are now likely. (The Reformed Broker)
Country stock market performance YTD. (Bespoke)
A look at the value in German stocks. (Bloomberg)
The Euro crisis is coming to a head. (Felix Salmon)
Norway as a safe haven currency (or not). (Fund My Mutual Fund, The Source)
Want growth? Go to Turkey. (beyondbrics)
Economy
What do low interest rates signify? (Econbrowser)
What an ambitious mortgage refinancing program would look like. (Economist’s View)
Why housing still matters. (Bonddad Blog)
Why the Japanese case is not relevant to the US case. (China Financial Markets)
Earlier on Abnormal Returns
What you missed in our Monday morning linkfest. (Abnormal Returns)
Mixed media
News on the web is getting increasingly more niche. (NYTimes)
The hidden cost of a Groupon deal for business. (Technology Review via @danprimack)
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