Quote of the day

Adam Grimes, “Technical trading is nothing more than a statistical game.”  (Adam Grimes)

Chart of the day

WMT Chart

WMT data by YCharts

Should we be concerned that Wal-Mart ($WMT) is outperforming Nordstrom ($JWN)?  (Barron’s)


Today’s market reaction to Europe is not atypical.  (Economix)

The stock market needs a good, old fashioned bond bear market.  (Big Picture)

There was no shortage of corn planted…now about the weather.  (FT)

What do you get when you write calls on an inverse ETF?  (Barron’s)


Why you should have a written trading checklist.  (StockCharts Blog)

Why we are so bad at forecasting the future.  (Farnam Street)

Prediction markets are a misnomer.  (Adam Warner)

Value investing

What makes for a good value investor?  (Aswath Damodaran)

The key to value investing is patience, something most investors don’t possess.  (Mercenary Trader)


Just how important are corn prices to Deere ($DE)?  A lot.  (YCharts Blog)

Looking back at five years of the Apple iPhone.  (GigaOM)

Are cracks beginning to show in the Apple ($AAPL) story?  (HBR, Apple 2.0)

The end game for Research in Motion ($RIMM) is here.  (Globe and Mail)

Money markets

If the Libor mechanism is rotten, what else is wrong in modern finance?  (Gillian Tett also The Psy-Fi Blog)

How much could banks be on the hook for with potential Libor litigation?  (FT Alphaville)

Money market mutual funds are banks in disguise without all that pesky regulation.  (Floyd Norris)

Financial regulation gives only the illusion of safety.  (FT Alphaville)


Jefferies Group ($JEF) has quietly become a powerhouse.  (Economist)

What is the old Merrill Lynch worth to Bank of America ($BAC)?  (The Brooklyn Investor)

Why didn’t the commercial property market crash?  (Marketplace)

An experiment in the efficacy of financial advisors.  (SSRN via @jasonzweigwsj)


The move in Spanish yields today was historic.  (Money Game)

Canada really is trying to pop its housing bubble.  (Economist)

The global economy will rebound into coal.  (Gregor Macdonald)

Stop overestimating the slowdown in China.  (Fortune)


Why are Treasury yields so low? On the shortage of safe assets.  (FT Alphaville, Pragmatic Capitalism)

Some additional reactions to the Supreme Court ruling on Obamacare.  (Marginal Revolution, Economist’s View, The Atlantic)

Earlier on Abnormal Returns

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

Mixed media

We are still waiting for some important wins in measuring market mood from social media.  (Economist)

The scoop is dead. Thank goodness.  (BuzzMachine)

Your e-book is reading you while you read it.  (WSJ)

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