Quote of the day

Bryan Goldberg, “Something tells me that coding will outlive cursive.”  (Pando Daily)

Chart of the day


A look at spread between the financial and technology sectors.  (Dynamic Hedge)


Insider selling is not that great a market indicator.  (MicroFundy)

What does it mean when sentiment is highly reactive.  (Phil Pearlman)

Bullish sentiment is kicking in.  (Bespoke, Big Picture)

The yield on “junk” bonds just keeps on falling.  (WSJ, Focus on Funds)


Neglected stocks are typically in strong hands.  (Aleph Blog)

On the costs (and benefits) of a style tilt.  (Rick Ferri)

Marc Principato, “Less experienced traders have a high tendency to be reactionary in their methodology.” (SMB Training)


Apple ($AAPL) catches an upgrade.  (SAI, ibid)

On the prospects for a standalone Time Inc. (Bloomberg)

No one else is likely to bid for Dell ($DELL).  (Term Sheet)

Private equity

Does Carlyle Group ($CG) have something up its sleeve by opening up its PE funds?  (NetNet)

Will private equity be as interesting if anyone can buy in?  (Dealbreaker also Your Wealth Effect)

Private equity has found another way to squeeze cash from portfolio companies long after they have IPO’d.  (Dealbook)

Fund management

When asset managers lose their mojo it is often difficult to get it back: the case of Janus Capital ($JNS).  (InvestmentNews)

Value investors are once again in vogue.  (FT)

Big emerging market equity funds are closing to new investors.  (InvestmentNews via Systematic Relative Strength)


The ‘me-too’ ETF wars are ongoing.  (IndexUniverse)

ETF industry barriers to entry are rising.  (Focus on Funds)

If you are not using ETF total return charts you are making a big mistake.  (World Beta)

Is the United States Brent Oil Fund ($BNO) the new United States Oil Fund ($USO)?  (IndexUniverse)


Is the Bank of England risking a currency crisis?  (Gavyn Davies)

Britain’s fiscal failure.  (Felix Salmon)

Is it time to short Canada?  (Bonddad Blog)


Weekly initial claims continue trending lower.  (Calculated Risk, Quartz, Capital Spectator)

What pundits miss in consumer strength.  (Daniel Gross)

On the importance of printing your own currency.  (Tim Duy)

Mixed media

The keyboard is getting reinvented on smartphones.  (WSJ)

Why are cellphone conversations so distracting?  (Well)

RIP, Google Reader.  (GigaOM, Superfeedr, Kid Dynamite, Marginal Revolution)

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