Quote of the day
Patrick Burns, “If equity markets suddenly sprang into existence now, would we create market indices? I’m doubtful.” (Portfolio Probe)
Chart of the day
Google ($GOOG) stock hasn’t done much since Larry Page became CEO. (SAI)
Markets
Risk aversion continues to ebb. (Crossing Wall Street)
The public is still not buying into this rally. (Dynamic Hedge also Money Game)
The $VIX is at multi-year lows. (MarketBeat)
Investors are beginning to shy away from government bonds. (WSJ, USA Today)
One of these days the natural gas market will stabilize. The question is when. (Sober Look)
Returns
Major asset class performance for March 2012. (Capital Spectator)
Low volatility is underperforming YTD. (Falkenblog)
Checking in on the performance of the Halloween Indicator. (Mark Hulbert)
The first week of April is typically a good one for the stock market. (Quantifiable Edges)
Strategy
Are prices random or chaotic? (Pragmatic Capitalism)
Many investors find it easy to raise cash, but much more difficult to re-deploy it. (Investing Caffeine)
Nontraded REITs: a recipe for disaster. (InvestmentNews via TRB)
How geography affects CEO compensation. (SSRN via @jasonzweigwsj)
Technology
Apple’s ($AAPL) price move is now parabolic. How much do you already own? (Price Action Lab also Time)
How much are Facebook ($FB) and LinkedIn ($LNKD) users worth? (TechInsidr)
Who is going to run Sirius XM Radio ($SIRI): Karmazin or Malone? (WSJ)
Why does David Einhorn still own Dell ($DELL)? (Market Folly)
What is really going on at Groupon ($GRPN)? (Felix Salmon, Time, MarketBeat)
Companies
Why dollar stores continue to thrive. (Fortune)
It looks like a good old fashioned hostile takeover by Coty Inc. for Avon Products ($AVP). (WSJ, Deal Journal, Dealbook)
Some companies likely to hike their dividends this month. (Dynamic Dividend)
Finance
Pension funds are investing in ever riskier assets to keep up. (NYTimes, Baseline Scenario)
Where did all the pension fund money go? Not into stocks. (MarketBeat)
Why one guy, not named Greg Smith, left Goldman Sachs ($GS). (Wall Street Oasis via Dealbook)
AIG ($AIG) wants to get back into the mortgage business. (FT)
Funds
On whether you really need a ‘permanent portfolio‘ in your fund mix? (Mutual Fund Observer)
Bruce Berkowitz is back. (Term Sheet)
Sometimes you need to go beyond expense ratios when comparing like ETFs. (IndexUniverse)
Another M&A ETF is coming. (IndexUniverse)
Global
The Euro economy is paying a dear price for its current ills. (Free exchange)
The Euro money market is “melting away.” (Sober Look)
Economy
The ISM manufacturing index shows continued growth in March. (Calculated Risk, Crossing Wall Street, MarketBeat)
Construction spending is going sideways. (Calafia Beach Pundit)
How it is that Ben Bernanke was selected to become chairman of the Fed. (Economic Principals)
Investors are snapping up foreclosures in hope of renting them out. (WashingtonPost via CR)
Earlier on Abnormal Returns
What you missed in our Monday morning linkfest. (Abnormal Returns)
I was a guest on the most recent episode of The Disciplined Investor podcast with Andrew Horowitz. (The Disciplined Investor)
Mixed media
Top ten lists aren’t new but the web takes them to a whole new level. (Bits)
IS there such a thing as an unsinkable ship? (Scientific American)
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