Quote of the day

Bill Gross, “Ultra low, zero-bounded central bank policy rates might in fact de-lever instead of re-lever the financial system, creating contraction instead of expansion in the real economy. ”  (FT)

Chart of the day

The oil picture in Brazil has just gotten murkier.  (Fortune)

Video of the day

Value investors David Winters and Chris Davis talk with Consuelo Mack.  (Wealthtrack)

Strategy

Using New Highs-New Lows as a long term indicator.  (The Patient Fisherman via @easyguru)

What is a “trending value” strategy and why has it worked so well historically?  (Marketwatch also The Reformed Broker)

Investors have favored companies that returned them cash in 2012.  (Bloomberg)

Why the drop in Zynga ($ZNGA) is a good sign for the market.  (Capital Observer also SAI)

The future is guaranteed to no one.  (Interloper, Free exchange)

Commodities

Examining the performance of the commodities sectors.  (SSRN via @quantivity)

Another beneficiary of the shale revolution is the US petrochemical industry.  (WSJ)

Who would benefit from the Keystone XL pipeline project.  (Econbrowser)

Companies

The parable of Research in Motion ($RIMM).  (Asymco also Eric Jackson)

More hints emerge on Apple’s ($AAPL) broader move into television.  (WSJ, GigaOM)

Everybody, but most consumers, hate the iPad.  (Cult of Mac, MarketBeat)

Twitter is in no hurry to go public.  (Dealbook, Term Sheet)

Finance

Duffy vs. Corzine:  two very different views of the world.  (Points and Figures, Reuters)

Ted Kaufmann, “There is no “good” way to save a bank that is “too big to fail.”  (HuffingtonPost)

Funds

Cliff Asness wants to bring momentum investing to the mutual fund masses.  (Fortune)

ETF providers continue to “self-index.”  (IndexUniverse)

Global

Europe needs its own Alexander Hamilton.  (FT)

How Italy could squeak by.  (voxEU)

On the odds of France losing its AAA rating.  (Bespoke)

Investors are increasingly anxious about Russia’s political system.  (NYTimes)

On the risk of social unrest in China.  (HistorySquared)

Economy

On the rising risks of recession.  (Pragmatic Capitalism)

Ten economic questions for 2012.  (Calculated Risk)

Why we should celebrate the high-beta wealthy.  (Felix Salmon)

Hints of a bottom in housing.  (FT)

Americans continue to remodel their homes.  (Calculated Risk)

Earlier on Abnormal Returns

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

Books

In praise (mostly) of Aaron Brown’s Red-Blooded Risk: The Secret History of Wall Street.  (Quantivity)

Brenda Jubin’s top books for the year including Emanuel Derman’s Models.Behaving.Badly.  (Reading the Markets)

Behavior

Why self-control is so important to investors.  (Systematic Relative Strength)

What makes for an angry drunk?  (Science Blog)

Use experimentation to accelerate learning.  (HBR)

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