Quote of the day

Hunter, “In no way, shape or form, am I using a sell side recommendation of overweight, underweight, buy, sell, etc in my purchase decision.”  (Distressed Debt Investing)

Chart of the day

 

An “oversold stock” can always go lower.  (Kid Dynamite, Stock Sage)

Markets

The S&P 500 has now overbought.  (Bespoke, Fund My Mutual Fund)

The evolution of 2011 S&P earnings estimates.  (Dr. Ed’s Blog)

Is current volatility unprecedented?  (HedgeWorld)

A double-top in bonds?  (Phil Pearlman)

A look at the “real” seasonality effect.  (EconomPic Data)

Is $VIX day-of-the-week seasonality disappearing?  (MarketSci Blog)

Crude oil prices find a bid.  (MarketBeat)

How is earnings season going?  (Big Picture)

Strategy

Take shots at other investors at your own risk.  Karma is a b*tch.  (TRB)

A handful of promising themes.  (A Dash of Insight)

Has momentum lost its momentum?  (CBS Moneywatch)

Small caps don’t always outperform in a bull market.  (research puzzle pix)

You can’t make a financial plan without an accurate personal balance sheet.  (Bucks Blog)

Wealth managers hate technology.  (I Heart Wall Street also InvestmentNews)

Netflix

Valuation matters….eventually.  (Crossing Wall Street)

The case for Netflix.  (Business Insider)

A series of unfortunate buybacks.  (Dealbook)

Why being a value investor is difficult.  (Peridot Capitalist)

There is a thin line between success and failure:  the case of Netflix ($NFLX).  (Abnormal Returns)

Companies

How Apple ($AAPL) could get into the TV business.  (SplatF, Bloomberg)

How the low-end PC and mobile phone markets are getting disrupted.  (Asymco)

Starbucks ($SBUX) is once again expensive.  (YCharts)

The power of the FDA.  (Freakonomics)

Finance

Is high frequency trading played out?  (All About Alpha)

More scrutiny for dark pools.  (Term Sheet)

Uh no.  The Harvard Business School indicator is flashing caution.  (NetNet)

Regional banks are trying to get bigger in investment banking.  (WSJ)

MF Global ($MF) seems to stumbled on its way to becoming the Goldman.  (FT)

Banks failed in part because they measured performance the wrong way.  (Buttonwood, Real Time Economics, QFinance)

Felix Zulauf, “Policy makers inevitably punish savers.”  (Big Picture)

ETFs

A shake out in the ETF industry “seems inevitable.”  (FA Magazine)

Some intrigue involving financial sector ETFs.  (IndexUniverse)

Absolute return is about marketing, not strategy.  (InvestmentNews)

Global

Hello Euro crisis, meet Euro recession.  (WSJ)

Can Europe engineer itself out of crisis?  (Rational Irrationality)

The ‘kabuki theater’ around Greek debt haircuts.  (MarketBeat)

The UK economy is ‘peripheral’ stagnant.  (FT Alphaville)

Why Italy is stuck in a rut.  (Marginal Revolution)

China stocks are cheap.  (FT Alphaville)

What UPS ($UPS) is saying about the global economy.  (Pragmatic Capitalism)

Economy

What are small business worried about these days?  (Modeled Behavior)

Case-Shiller shows muddled housing prices.  (Calculated Risk, Planet Money)

Consumer confidence is at recessionary levels.  (FT Alphaville, The Atlantic)

Demand for US currency continues unabated.  (Real Time Economics)

On being right for the wrong reasons.  (Pragmatic Capitalism)

Earlier on Abnormal Returns

The behavior gap illustrated.  (Abnormal Returns)

A Margin Call review round-up.  (Abnormal Returns)

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

Mixed media

Emanuel Derman in his new book Models.Behaving.Badly cautions on the limits of models.*  (Above the Market)

From the guy who helped bring you the iPod the world’s first learning thermostat.  (MercuryNews, BW, Technologizer)

iPads put strains on hotel Wi-Fi.  (NYTimes)

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*Amazon affiliate. You know the drill.