Quote of the day
Steve Randy Waldman, “Cash is not king in financial markets. Risk is. The government bailed out major banks by assuming the downside risk of major banks when those risks were very large, for minimal compensation.” (Interfluidity)
Chart of the day
The trouble with LinkedIn ($LNKD). (Infectious Greed)
Markets
A look at December seasonality. (MarketSci Blog, ibid, Pragmatic Capitalism)
Yet another all-or-nothing day. (Bespoke)
Steve Leuthold is “scared to death” but buying stocks nonetheless. (New Observer via Market Anthropology)
US Treasuries are once again the safe haven play. (MarketBeat)
Strategy
The trouble with liquidity. (All About Alpha)
What the “ultimate stockpickers” are buying and selling. (Morningstar)
On the value of a new found respect for market risk. (Interloper)
Simplifying option contract selection. (Tyler’s Trading)
Mike Bellafiore, “Trading is a skill. You were not born a great trader. ” (SMB Training)
Companies
Who would buy Netflix ($NFLX)? (ValuePlays)
Can AT&T ($T) save its deal for T-Mobile? (Dealbook, Slate)
Are Research in Motion ($RIMM) shares too cheap to short? (MarketBeat)
Why you shouldn’t buy into the Zynga IPO. (Eric Jackson)
AMR Corp.
American Airlines parent AMR Corp. ($AMR) goes bankrupt. (Dealbook, Business Insider, Crossing Wall Street)
What startups can learn from the AMR bankruptcy. (SplatF)
Are public shareholders going to change Facebook for the worse? (TechCrunch)
The big returns to Facebook shareholders have already been earned. (Crackerjack Finance)
Finance
Some MF Global funds may have been found. (Dealbook, ibid)
It goes without saying that futures firms need to be more closely regulated. (Big Picture)
The hypocrisy of celebrity endorsements of financial products. (I Heart Wall Street)
What was Hank Paulson thinking? (Felix Salmon)
ETFs
Bond ETFs are becoming “increasingly granular.” (IndexUniverse)
Global X is coming out with Nasdaq-focused ETFs. (IndexUniverse)
Europe
Why fiscal union cannot save the Euro now. (The Atlantic)
Trying to make sense of the Italian bond market. (The Source)
Deflationary expectations in Europe. (MarketBeat)
Can the US decouple from Europe? (Tim Duy, Free exchange)
Economy
Can October’s economic momentum continue? (Capital Spectator)
Case-Shiller shows housing prices bouncing along the bottom. (Calculated Risk, Bespoke)
We are doing a lot of stuff in the name of “corporate profitability.” (The Reformed Broker)
“Brain hubs” just keep getting smarter. (Real Time Economics)
Earlier on Abnormal Returns
What you missed in our Tuesday morning linkfest. (Abnormal Returns)
Mixed media
In retailing is local necessarily better than national? (Free exchange)
Looking forward to John Gapper’s new e-book, How to be a Rogue Trader
. (Amazon)
The cognitive benefits of chewing gum. (The Frontal Cortex)
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