Quote of the day
Robert de Neufville, “If you want to to be considered an expert in something, you don’t have to demonstrate real expertise. What you have to do is show you fit in and get along. That’s why it’s not surprising our experts get things wrong.” (Big Think)
Chart of the day
Secret Service scandal aside, have you check out the performance of the Colombian stock market? (ETF Expert)
Markets
Everybody is bearish on Treasuries, everybody. (Money Game)
A look at the “fund flows paradox.” (Investing Caffeine)
The energy sector is the weakest of them all. (StockCharts Blog, UpsideTrader)
Why the bull market in farmland may be over for now. (Barron’s)
Trading
Sometimes you have to put your ego aside to shake up your trading regime. (Chicago Sean)
What behavior should a proprietary trading firm reward? (SMB Training)
Research
Contrary to popular belief commodities don’t act as a hedge in a crisis. (Sober Look)
If value investors are the “grown ups” of the investment world, why aren’t their returns better? (Aswath Damodaran via @quantivity)
Momentum is a great strategy, if it weren’t for that crash risk. (SSRN)
Companies
Some informed speculation on who Warren Buffett might pick as his successor. (Jason Zweig)
Apple ($AAPL) is still best positioned to coin money long term off the mobile computing boom. (Pando Daily)
Wal-Mart ($WMT) has some explaining to do. (NYTimes)
CEOs these days are feeling quite put upon by their shareholders. (Dealbreaker)
Finance
Hostile takeover attempts are making a comeback. (Dealbook)
Why Ric Edelman is going private. (InvestmentNews)
Twitter represents a fresh resource for an investment industry stuck in a rut. (Telegraph)
ETFs
Not all low volatility ETFs are created equally. (Focus on Funds)
The iPath Natural Gas ETN ($GAZ) is trading at a silly premium. (IndexUniverse)
Global
Markets have lost faith in Argentina. (Sober Look)
Is the Yuan closer to fair value that commonly thought? (Economist)
US multinationals should thank their lucky stars for emerging markets. (beyondbrics)
Economy
Housing is adding to economic growth. (Calculated Risk)
How the recession affected states differently. (Modeled Behavior)
Trend change: miles driven continue to trend lower. (dshort)
What’s the deal with all those excess reserves at the Fed? (Credit Writedowns)
A look at the bounce back in retail sales. (Floyd Norris)
It is really the “end of retail“? (The Atlantic)
Earlier on Abnormal Returns
The high cost of bad buy/sell decisions. (Abnormal Returns)
What you missed in our Saturday long form linkfest. (Abnormal Returns)
What others were reading this week on the site. (Abnormal Returns)
Mixed media
Your stock broker is likely not Bill O’Neill. (I Heart Wall Street)
How to get stuff done: first start. (Marginal Revolution)
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