Quote of the day
Carl Richards, “Risk is an arbitrary concept, until you experience it. And I’ve noticed myself focusing more on the consequences of something going wrong than just the probability of that happening.” (NYTimes)
Chart of the day
Homebuilders and regional banks are trading together. (StockCharts.com Blog)
Markets
The “bravest investor wins” era is over. (Interloper)
Year-end rallies keep coming earlier. (Mark Hulbert)
Forex trading models have broken down of late. (WSJ)
In praise of candlestick charts. (Tyler’s Trading)
Personal finance
How volatility helps in estate planning. (WSJ)
Why investors need to use “broader framing” when thinking about their portfolios. (CNNMoney)
How does the “planning fallacy” affect how advisers deal with clients? (Above the Market)
Companies
The end of mobile Flash is nigh. What it means for Adobe ($ADBE). (SplatF, The Orange View)
Bad news on the Apple ($AAPL) front. (SAI, Apple 2.0)
Brewers like AmBev ($BUD) have outperformed this year. (The Source)
Finance
On the danger of borrowing to buy back stock. (Herb Greenberg)
In case you thought the financial crisis was over, may I present Fannie Mae. (Howard Lindzon, Kid Dynamite)
The housing finance market is still broken. (The Atlantic)
Has Goldman Sachs ($GS) lost its trading touch? (FT Alphaville)
Would a stronger board have saved MF Global? (Dealbook)
Why isn’t more being made of the issue of MF Global customer accounts? (Peter L. Brandt)
ETFs
The ETF Deathwatch for November reaches a new high. (Invest With An Edge)
Dividend indices are not created the same. (Marketwatch)
Can Morningstar ($MORN) change the discussion around its fund ratings? (the research puzzle)
Global
Italy, Italy, Italy. (Bespoke, MarketBeat, TRB, MarketBeat, Curious Capitalist, Pragmatic Capitalism, Planet Money, Stock Sage)
Is Italy in all that bad a shape? (Money Game)
How a Eurozone breakup could happen. (FT Alphaville, Free exchange, Wonkblog)
Would a smaller Europe make for a stronger Euro? (Reuters)
Balanced approaches to emerging markets are gaining adherents. (Morningstar)
Is Mongolia the next Dubai? (The Atlantic)
Economy
Diesel fuel consumption jumped in October. (Calculated Risk)
Some optimistic employment figures. (macrofugue, Calafia Beach Pundit)
The hard line argument against allowing inflation to tick up. (Real Time Economics)
A shovel ready project that is stalled. (Econbrowser)
Earlier on Abnormal Returns
Why sell in May, when you can rotate in October? (Abnormal Returns)
What you missed in our Wednesday morning linkfest. (Abnormal Returns)
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