Quote of the day
MS, “When a significant decline or negative event happens, it’s going to leave a mark. There will be echoes that reverberate through the markets as people adjust to the new reality, and how long that lasts will be somewhat proportional to the size and circumstances of the decline.” (Mortality Sucks)
Chart of the day
The S&P 500 is flirting with its 200 day moving average. (Random Roger, MarketBeat)
Markets
Markets are pushing towards oversold levels. (Bespoke)
Wheat prices are surging. (FT)
A rhetorical question for the silver bugs. (Kid Dynamite, ibid)
Bill Gross on muni bonds in a higher tax rate environment. (Bloomberg)
A growing number of US companies are cutting their dividends. (Political Calculations)
Strategy
Marc Principato, “The subtle information that you gather from your losing trades is what helps make the methodology that you are working with your own.” (SMB Training)
Notes from the Invest for Kids Chicago 2012 hedge fund confab. (Market Folly)
Tips on trying to avoid the “Peter Lynch bias.” (Sizemore Insights)
Charts represent the unspooling of real human emotion. (StockCharts Blog)
Companies
Priceline ($PCLN) buys newly public Kayak ($KAYK) for a pretty penny. (Bloomberg, Dealbook, YCharts Blog)
The case that Apple ($AAPL) stock is cheap. (SAI, Eric Jackson)
Why are “noisy resignations” from corporate boards so rare? (Bloomberg)
Global
Should we be worried about Asia’s own ‘great moderation’? (Economist)
Europe still isn’t close to a solution for Greece. (Tim Duy also Calculated Risk)
The Australian dollar is expensive. (Calafia Beach Pundit)
Economy
Why the next recession will likely not be preceded by an inverted yield curve. (NetNet)
The case for additional infrastructure spending. (Mark Thoma)
Financial stress is still pretty much absent in the US markets. (Carpe Diem)
Earlier on Abnormal Returns
What you missed in our Friday morning linkfest. (Abnormal Returns)
Mixed media
Wireless device charging has been slow to take off. (Businessweek)
Marco Ament is making zines cool again. (Pando Daily)
The ultimate question: stay small or go big? (kottke)
Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.
