Quote of the day

Laszlo Birinyi, “But too many individuals approach investing more like it’s a salad bar. They hear a bunch of ideas, and then they go pick certain ones out. But we can’t stress enough how hard one really has to work at this.”  (Barron’s)

Chart of the day

The S&P 500 continues to track initial unemployment claims.  (Money Game)


Be on guard for a “quick sentiment shift.”  (Dynamic Hedge)

Where markets stand at week-end.  (Global Macro Monitor, ibid)

You need to have conviction in your ideas in this market.  (Joe Fahmy)

Does slow economic growth doom the stock market?  (Jason Zweig)


There’s always going to be “uncertainty.” Get over it.  (Motley Fool)

What kind of charts are being used around the world.  (All Star Charts)

Beware the stealth options seller.  (Aleph Blog)

How investor sophistication affects asset prices.  (SSRN via @quantivity)


Why Apple ($AAPL) stock is hurting.  (UpsideTrader, The Reformed Broker)

Apple and Yahoo! ($YHOO) are moving in separate directions.  (VIX and More)

Is Apple too big to succeed?  (Global Macro Monitor)


How low can fund fees go?  (WSJ)

Why fund investors always seem to have worse performance than the underlying fund.  (Economist)


At 9x earnings you can argue that South Korean stocks are cheap.  (Barron’s)

Then again so are Russian stocks at 5.5x 2013 earnings.  (Barron’s)


Housing prices have reverted to the mean.  (Sober Look)

Coexistence with robots in this economy is possible.  (Businessweek)

Opinions are still very divided on the resolution of the fiscal cliff.  (A Dash of Insight)

Why we need to keep the charitable deduction.  (NYTimes)

A look back at the economic stats for the week.  (Bonddad Blog, Calculated Risk)

A look ahead at the economic week.  (Calculated Risk)

Earlier on Abnormal Returns

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

Top clicks this week on the site.  (Abnormal Returns)

Mixed media

Intuition is far more effective for those with domain expertise.  (ScienceBlog)

Why we need to learn more about our guts, or microbiomes.  (Big Think)

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