Apologies for the later than normal linkfest. Hopefully we are back up to speed tomorrow.
Quote of the day
Paul Vigna, “In effect, investors are being force-fed risk like fois gras ducks are force-fed fat. It’s not a comfortable situation for either group.” (MarketBeat)
Chart of the day

If Apple ($AAPL) follows the oil analogy it still has some falling to do. (Market Anthropology)
Strategy
Bonds vs. equities: which is more bubblicious? (Gavyn Davies)
Why politics and economics matter less to markets than you think. (Barry Ritholtz)
For the gajillionth time, the economy is not the stock market. (The Reformed Broker)
Volatility
The $VIX is plumbing six-year lows. (Focus on Funds)
How should implied volatilies be compared across asset classes? (Condor Options)
Books
Summing up Jack Schwager’s Hedge Fund Market Wizards in two paragraphs. (The Minimalist Trader)
Is Brian Nichols’ Taking Charge with Value Investing: How to Choose the Best Investments According to Price, Performance, and Valuation to Build a Winning Portfolio worth a look? (Reading the Markets)
Companies
Apple is more open than you think says the authors of Radical Openness: Four Unexpected Principles for Success. (Justin Fox)
Where are the Android users? (Asymco)
Finance
Just when you thought you were done with the eToys story. (NYTimes, Felix Salmon, Dealbreaker)
Ten requirements for a successful IPO. (Fortune)
Puerto Rico is luring rich guys with a break on capital gains taxes. (Bloomberg, Clusterstock)
The commodity business ain’t what it used to be for banks. (WSJ)
Private equity
The age old story of investors chasing returns: the private equity edition. (Sober Look)
Private equity is shoveling cash to investors. (FT)
Trading
What is going on with Intrade? (Rajiv Sethi)
The changing municipal bond trading landscape. (Muniland)
Funds
What five moves are global allocation fund managers doing? (Morningstar)
College endowment funds are undeperforming mutual funds. (Points and Figures)
The Global X SuperDividend U.S. ETF ($DIV) launches tomorrow. (IndexUniverse)
Don’t get pushed into (our out of) a fund based on changing fees. (Marketwatch)
Economy
Introducing the Macro-Markets Risk Index. (Capital Spectator)
Forecasting the business cycle to time the market is tough. (Calculated Risk)
Mixed media
Behind the scenes humans are helping out the algorithms. (NYTimes)
Who makes Trader Joe’s food? (Huffington Post)
Possible fossils found in meteorite fragments. (Technology Review via kottke)
Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.