Quote of the day

Matthew Yglesias, “Wall Street has essentially granted Bezos the right to operate an extremely forward-looking charitable venture on the theory that at some future point it will acquire monopoly pricing power and start screwing us all.”  (Slate)

Chart of the day

Have you checked out Germany’s stock market of late?  (MarketBeat)

Markets

How Fed communications policy has changed market moves around FOMC days.  (Dynamic Hedge)

Why are investors still so traumatized?  (Big Picture, Random Roger)

The NYSE Advance-Decline line is at new highs.  (StockCharts Blog)

Bond funds vs. stock funds: inflows and outflows.  (Dr. Ed’s Blog)

Why has Japan’s stock market underperformed?  (World Beta)

Strategy

How investment organizations can “energize” their risk management functions.  (the research puzzle)

The death of managed futures has been greatly exaggerated.  (Pragmatic Capitalism)

Why investors remember winners and forget losers.  (Systematic Relative Strength)

Companies

What does it mean that Apple ($AAPL) iTV is in the testing stage?  (WSJ, Quartz)

Why Amazon ($AMZN) crushes Best Buy ($BBY).  (Quartz)

Berkshire Hathaway ($BRKA) is buying back shares in earnest.  (Fortune, Inelegant Investor, Felix Salmon)

The opportunity for Google ($GOOG) in mobile.  (YCharts Blog)

Startups

How $99 genetic tests could change medicine.  (Fortune)

Enterprise computing is the toast of the startup world.  (Dealbook)

The startup ethos is getting transplanted in some surprising places.  (Dealbook)

Finance

The five best trades on Wall Street in 2012.  (Quartz)

Which is it? Does the market have too much or too little liquidity?  (Dealbreaker)

When hedge funds become players on the global stage.  (Dealbook)

Are hedge funds any better than the average investment newsletter?  (Mark Hulbert)

Rhode Island is the front lines of the fight over public pensions.  (WSJ)

Funds

Is relying on emerging market indices a mistake?  (FT)

A look at TIPS ETFs.  (Morningstar)

Fidelity is cutting fees on its index funds.  (CBS Moneywatch)

Metals

eBay ($EBAY) is making buying and selling gold coins and bullion easier.  (Unexpected Returns)

Do ETFs move metals prices?  (IndexUniverse)

Global

MIT alums are running the world’s central banks.  (WSJ)

The NGDP meme is coming to the UK.  (FT Alphaville)

Economy

The Fed has shifted towards goal-oriented QE.  (Money Game, Calculated Risk, Real Time Economics)

Why is investment growth so slow?  (Econbrowser)

Mortgage refis are still at high levels.  (Calculated Risk)

Mixed media

Congrats on 2000 posts.  (Aleph Blog)

What is Twitter’s core competency?  (GigaOM)

Maybe this is why Bloomberg is fishing for acquisitions.  (FT)

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