Quote of the day

Joe Fahmy, “The second you get cocky and think you are good, the market has a unique way of humbling you.”  (Joe Fahmy)

Chart of the day


Forecast returns for a 60/40 portfolio over the next decade.  (Buttonwood, ibid)


Investors are exiting “structural safe havens.”  (Mark Dow)

Bond market top alert: PIMCO is building a sumptuous new headquarters.  (Calculated Risk)

Is the individual investor finally back?  (A Dash of Insight)

The equal-weighted S&P 500 has been outperforming for some time now.  (Bespoke)

The 10-year Treasury note just saw its yield exceed 2%.  (FT Alphaville)


The value trap in gold miners.  (Market Anthropology)

Six ways we make bad financial decisions.  (Globe and Mail)

Balanced portfolios for balanced lives.  (Rick Ferri)

There are simpler ways than aggressive investing to create a better retirement.  (Mortality Sucks)


Is Nokia ($NOK) the new Research in Motion ($RIMM)?  (The Reformed Broker)

Caterpillar ($CAT) earnings as a global Rorschach test.  (Quartz)

How Tivo ($TIVO) returned to investor favor: patents. (Fortune)

A couple of big, cheap financials.  (The Brooklyn Investor, ValuePlays)


Does Apple ($AAPL) need to do a levered recap?  (TechInsidr)

If you are a value investor you need to look at Apple.  (Musings on Markets)

Some subtleties you may have missed in the Apple earnings report.  (Apple 2.0)

Michael Moritz, “It is difficult to think of a company of the past 50 years whose influence and ingenuity have been as profound or widespread as the one formerly known as Apple Computer, Inc. ”  (FT)


High tech, high touch: a new approach to stock trading.  (WSJ)

Wall Street is experiencing a talent drain.  (Reuters)


The more things change, the more they stay the same: people herd.  (The Reformed Broker)

Look to high yield bond funds for the next crisis.  (Quartz)

Money market fund managers are jockeying to avoid burdensome regulation.  (Bloomberg, Morningstar)


Everyone hates the Yen and the Pound.  (Money Game, RTE)

Russia: privatization 2.0.  (beyondbrics)


How robots will save developed market manufacturing.  (NYTimes)

Cheap solar energy is pretty much going to change everything.  (Noahpinion)

Before we can have driverless cars we need a legal system to handle them.  (WSJ)


A surprising jump in December durable goods.  (Pragmatic Capitalism, Capital Spectator)

The housing rebound is beginning to spillover into related sectors.  (WSJ)

Behold the stunning decline in consumer debt service ratios in past five years.  (The Reformed Broker)

Mixed media

A nice profile of Bill McBride of Calculated Risk.  (LATimes)

All the fitness apps in the world won’t make us thin.  (Pando Daily)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.