Quote of the day

Matthew Yglesias, “..Amazon’s sky-high price-earnings ratio compared with rival retailers or rival tech companies illustrates the point that investing is hard and the stock market is weird.”  (Slate)

Chart of the day

US 30 Year Mortgage Rate Chart

US 30 Year Mortgage Rate data by YCharts

Have 3o-year mortgage rates bottomed?  (Bloomberg)


Why are oil prices on the rise?  (Sober Look, Bonddad Blog)

Energy stocks are leading the market higher.  (Bespoke, IndexUniverse)

Natural gas has a tendency to outperform oil in early February.  (Seasonal Odds)


Investing lessons from the world of kitesurfing.  (Turnkey Analyst)

Professional investors have forgotten what a bull market looks like.  (ZenPenny)

Financial planning

It’s a good time to be a financial adviser on the move.  (InvestmentNews)

How technology is changing the financial planning industry.  (Nerd’s Eye View)


Facebook ($FB) stock is constrained by valuation concerns.  (SAI, Quartz)

How much is Microsoft ($MSFT) worth?  (Crossing Wall Street)


CLOs and CDOs are back.  (CNBC)

Renaissance Technologies seems to be off its game.  (II Alpha)

Goldman Sachs ($GS) is preparing for higher interest rates.  (Term Sheet)

Why your ETF doesn’t own enough Amazon ($AMZN).  (Michael Santoli)


A lower yen is a tailwind for corporate Japan.  (WSJ)

How would the City of London be affected by a UK withdrawal from the EU?  (Fortune)

Are local currency emerging market sovereign bonds a new ‘safe haven’?  (QFinance)


Did all the talk about the fiscal cliff affect Q4 activity?  (Money Game, Guardian)

A pop in weekly initial unemployment claims (and personal income).  (Calculated Risk, ibid)

Why the Fed is likely to stand pat for awhile.  (Tim Duy)

How the FOMC’s statement changed.  (RTE, Aleph Blog)

We are still figuring out how automation is going to affect the workforce.  (HBR)


A bear market in law school applications.  (NYTimes)

Should colleges ban double-majors?  (Time)

How willing are you to bet on some “upstarts“?  (peHUB)

Mixed media

A retina display-enabled iPad mini is the perfect tablet.  (Quartz)

Are you looking forward to “House of Cards” from Netflix ($NFLX)?  (WSJ reviews THR, Variety, Slate)

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.