If you haven’t done it already think about signing up for our daily e-mail, thousands of other Abnormal Returns readers already have.
Quote of the day
David Schawel, “Looking back at the previous few years of performance in the HY market is dangerous and unrealistic for investors attempting to project potential future returns. This is not a financial writer giving you predictions but, rather, pointing out indisputable features of bond math.” (Inside Investing)
Chart of the day

How much longer can steel stocks remain dormant? (chessNwine also Quartz)
Markets
Two different calls for caution. (ZenPenny, All Star Charts)
Why market timing doesn’t work. (The Source)
Lumber prices continues to push higher. (Bloomberg)
How does the stock market affect your health? (Total Return)
Flows
Insiders have switched aggressively to the sell-side. (Mark Hulbert also Humble Student)
Companies have pulled back on share buybacks. (NetNet)
Strategy
Weak growth need not imply weak stock returns. (Amazon Money & Markets)
Can investors improve on simple low vol models? (Falkenblog)
Are you the ‘dumb money‘? (A Dash of Insight)
Don’t waste your time trying to figure out an investment case for diamonds. (Turnkey Analyst)
Leverage kills. (Brian Lund)
Twelve questions for Charles Kirk. (Kirk Report)
Companies
Hewlett-Packard ($HPQ) is talking break-up. (Quartz)
Did Dell ($DELL) really have a choice? (Pando Daily also GigaOM)
The very bright future for ARM Holdings ($ARMH). (Quartz)
Maybe Apple ($AAPL) and ExxonMobil ($XOM) are not all that different after all. (Breakingviews)
Can Zynga ($ZNGA) make the transition to mobile? (NYTimes)
The market has fallen out of love with the dollar retailers. (YCharts Blog)
Finance
Why didn’t S&P settle with the Feds? (Rational Irrationality)
Keep an eye on the overheating CDO market. (SurlyTrader)
Are LBOs coming back? (Free exchange)
Can a VC help turnaround Harvard’s endowment fund? (Businessweek)
Funds
ETFs have a lot of room still to grow. (FT also InvestmentNews)
How much did the U.S. ETF industry earn last year? (IndexUniverse)
Vanguard is getting into the international bond arena. (Focus on Funds, IndexUniverse)
A breakdown of the global bond markets. (Capital Spectator)
Global
China’s long-term demographic challenge. (FT Alphaville)
Canada’s housing market is at a turning point. (FT)
Economy
The Fed’s financial stress index hits pre-recession levels. (Carpe Diem)
Why the Post Office is stopping Saturday service. (The Atlantic, Politico)
Earlier on Abnormal Returns
The Credit Suisse Global Investment Returns Yearbook, 2013 edition is out and is a must-read. (Abnormal Returns)
Mixed media
Reviews of the new Microsoft Surface Pro. (Pogue, Mossberg, Daring Fireball)
iOS and Android differ on their approach to porn. (Pando Daily)
On the state of Twitter. (WSJ)
Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.