Quote of the day

Eric Falkenstein, “Our desire to impress others causes us to take too much risk. On the bright side, this implies some rather simple strategies like low volatility investing…”  (Falkenblog)

Chart of the day

US Dollar to Chinese Yuan Exchange Rate data by YCharts

The Chinese renminbi is at a 19-year high against the US dollar.  (FT)

Markets

Are the sellers done with the coal stocks?  (UpsideTrader)

Why markets tend to rally post-sovereign debt crisis.  (Mark Hulbert)

How often does the S&P 500 trade below its 50-day moving average?  (Avondale Asset Management)

Corporate America just can’t help itself when it comes to buying back stock.  (The Reformed Broker)

Strategy

Too many endowment funds have Ivy envy.  (NYTimes)

On the relationship between consumer sentiment and the equity risk premium.  (Capital Spectator)

A look at the Halloween Indicator everywhere and all the time.  (SSRN via CXOAG)

Why you need to record decision making in real-time.  (Farnam Street)

Companies

Finding bargains in New York real estate ain’t easy.  (YCharts Blog)

Just who is Groupon’s ($GRPN) competition these days?  (Minyanville, YCharts Blog)

The Apple ($AAPL) iPad Mini has a launch date.  (AllThingsD)

By certain measures corporate governance in the US is getting better.  (WSJ)

Hedge funds

Seth Klarman is the lead plaintiff in the New York Attorney General’s case against Bear Stearns/JP Morgan ($JPM).  (Term Sheet also Bethany McLean)

Why the big hedge funds are underperforming in 2012.  (Daily Ticker)

ETFs

Why we really don’t need any more narrow, hyper-local ETFs. (IndexUniverse way earlier Abnormal Returns)

A commodities ETF that equal-weights 17 futures contracts.  (Morningstar)

Economy

QE3 is working: mortgage issuance (and refinancings) are on the upswing.  (Quartz also Dealbook)

The momentum behind the housing recovery meme is growing.  (FT Alphaville)

US exports are stronger than most people think.  (Washington Post)

Is the jump in state and local employment sustainable?  (Sober Look)

Handicapping the 2012 Nobel prize in Economics.  (Real Time Economics)

Earlier on Abnormal Returns

Manager ego, envy and the dangers of emulating the Ivy portfolios.  (Abnormal Returns)

Ten lessons learned from Abnormal Returns: Winning Strategies from the Frontlines of the Investment Blogosphere.  (Learn Bonds)

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

Autos

4-year old boy finds Lexus trunk latch defect.  (Money & Co.)

On the importance of SUVs to the luxury car brands.  (Autoblog, Lex)

A 2013 car buying guide.  (Marketwatch)

College

Is the liberal arts college ‘brand’ fading?  (Inside Higher Ed via Big Think)

Why college may be free in 10 years.  (Time)

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