Quote of the day
Nicholas Carlson, “The Facebook IPO is Kate & William’s wedding for business nerds.” (SAI)
Chart of the day
How did private investor do in pricing Facebook ($FB) shares? (Term Sheet)
Markets
Signs that the equity market is oversold. (DowntownTrader)
Check out the surge in put volume. (VIX and More)
What it feels like when a market puts in a bottom. (Brian Lund)
Operation Twist is distorting the Treasury market. (Sober Look)
High yield bonds finally crack. (Stock Sage also Bloomberg)
Strategy
Beware the balanced portfolio. (Institutional Imperative)
Why does equal-weighting outpeform cap weighting? (Greenbackd)
On average investment advice is “unhelpful at best.” (Falkenblog)
A rave review for Maneet Ahuja’s The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds. (Value Plays)
Companies
Why Warren Buffett is buying more newspapers. (paidContent)
Hewlett-Packard ($HPQ) is slashing jobs. (WSJ)
Has the bleeding finally stopped at Sears Holdings ($SHLD)? (Term Sheet)
Startups
Pinterest joins the big, hot, $1 billion startup crowd. (SAI, WSJ)
The cross-border money transfer business is ripe for change. (Economist)
In the startup space, there isn’t enough talent to go around. (Signal vs. Noise)
Facebook’s valuation are “insane.” (Vitaliy Katsenelson)
The story of Facebook as a “gatekeeper.” (FT)
Don’t expect a renewed IPO boom based on Facebook. (peHUB)
Finance
CME Group ($CME) is getting pushback on its plan to extend grain trading hours. (WSJ)
The case for breaking up the big banks. (Economist’s View)
What happens when you get too big relative to the size of the market. (Aleph Blog)
A look at the hole in the Volcker Rule that allowed it generate such big losses. (Floyd Norris)
Bill Davidow, “The financial world is more accident prone than ever — thanks in large part to the Internet, the mother of all interconnections.” (The Atlantic)
Wall Street still wants to hire quants. (Advanced Trading)
ETFs
How some managers are finding ways to trade successfully thinly traded ETFs. (Financial Adviser)
Shareholders of the Sprott Physical Silver Trust ($PSLV) keep doing odd stuff. (Kid Dynamite)
Economy
Why we should expect to see upward revisions to GDP estimates. (Modeled Behavior)
The Euro is mispriced for every country in the Eurozone. (Crackerjack Finance)
The Federal Reserve Board is back to full strength. (MacroAdvisers)
Rail traffic is still sluggish. (Pragmatic Capitalism)
Earlier on Abnormal Returns
What you missed in our Friday morning Facebook linkfest. (Abnormal Returns)
Mixed media
The bad economics of taxpayer funded football stadiums. (Economist)
How one American made the switch from American football to football. (WSJ)
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