Quote of the day

Jason Zweig, “But, because no one can perfectly predict a bubble, you should never go either to zero or 100%.”  (WSJ)

Chart of the day

‘Excess’ stock market volatility is at multi-decade highs.  (NYTimes)


A couple of looks at the extraordinary breadth readings we have seen of late.  (Fireside Charts)

Earnings revisions are disappointing.  (MarketBeat)

A closer examination of the “Sell in May” strategy.  (CXO Advisory Group)

On the difference between “trends, ranges and breakaways.”  (Derek Hernquist)

You can’t have a bubble without an increase in debt financing.  (Aleph Blog)

There is seasonality to the muni bond market.  (Total Return)


Technical analysis is much more than reading charts.  (All Star Charts)

Ten ways to destroy your portfolio.  (Investing Caffeine)

When should a trader increase his trading size?  (SMB Training)

How to profit off a reduction in stock correlations.  (NetNet)

As an investor you are being sold to without your knowledge.  (Interloper)

Kids these days don’t go much for portfolio risk.  (WSJ)

Do investors discriminate against female managers?  (SSRN via FinanceProfessor)


Apple ($AAPL) is trying to keep its senior management team intact.  (Bits, WSJ)

The many threats against Netflix ($NFLX).  (Can Turtles Fly?)

Sam Zell is going downmarket in his real estate picks.  (Barron’s)

Putting a value on the foreign operations of multinationals.  (SSRN)


A good explanation of what the CME Group ($CME) is doing with margins.  (Kid Dynamite)

Is the Groupon ($GRPN) offering a sign that the IPO window is open again?  (Dealbook, WSJ)

Reid Hoffman of LinkedIn ($LNKD) is at the “center of the social media universe.”  (NYTimes)

Want to protest Wall Street?  Buy an index fund.  (Bloomberg)

How “frictionless platforms” will change trading.  (Bigger Capital)


Buy Brazil.  (Barron’s, ibid)

Some cheap ‘Buffett-like‘ stocks in Europe.  (FT Alphaville)

Everyone is just waiting for the ECB to turn on the spigots.  (Money Game, voxEU)

A currency without a lender of last resort was destined to fail.  (Credit Writedowns)

Sovereign default probabilities via CDS prices.  (Pragmatic Capitalism)

Is time already short for Italy?  (MarketBeat, FT Alphaville)


Some employment-related charts.  (EconomPic Data, Modeled Behavior)

Would higher interest rates actually boost the housing market?  (The Atlantic)

Earlier on Abnormal Returns

Top clicks this week on Abnormal Returns.  (Abnormal Returns)

What you missed in our Saturday long form linkfest.  (Abnormal Returns)

Mixed media

There is a difference between smart and stupid.  (The Reformed Broker)

A positive review for Vincent Veneziani’s The Greatest Trades of All Time: Top Traders Making Big Profits from the Crash of 1929 to Today.*  (Aleph Blog)

Abnormal Returns is a founding member of the StockTwits Blog Network.

*Amazon affiliate. You know the drill.

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