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Quote of the day
Dan Solin, “If you are relying on his [Cramer’s] advice, you are chasing rainbows.” (Huffington Post)
Chart of the day

Coca Cola ($KO) is leading the consumer staples sector higher. (StockCharts Blog)
Markets
The consumer staples sector cannot be stopped. (Bespoke also
Are defensive stocks overvalued? (Globe Investor)
Food has outperforming for some time now. (research puzzle pix)
A look at bull markets since 1871. (Greenbackd)
Beware transport weakness. (Mark Hulbert)
Gold
Gold doesn’t move the way you thought it should. (Money Game)
Gold is broken. (Charts etc.)
John Paulson’s bet on gold has cost him in excess of $1 billion. (FT)
On the ‘Soros is short gold‘ rumor. (The Reformed Broker)
Momentum
Momentum investing with ETFs. (Morningstar)
Yet another look at the mystery of momentum. (Capital Spectator)
Companies
Big companies are increasingly putting pressure on their suppliers. (WSJ)
Intel ($INTC) is the epitome of a value trap. (The Reformed Broker)
Apple
Apple ($AAPL) “escaped” PCs. Other manufacturers are not so lucky. (Asymco)
Apple is leading tech stocks lower (again). (MoneyBeat)
The bull case for Apple. (SAI)
Finance
Banks play lip service to the idea of financial literacy. (Guardian)
Activist investors are taking on bigger targets. (Dealbook)
Private equity hearts wealth management firms. (Financial Planning)
Is the end of “neither admit nor deny” at it’s end? (Dealbook)
ETFs
Why Fidelity needs the Blackrock ($BLK) ETF partnership. (FT)
The United States Natural Fund ($UNG) continues to lag the surging spot natural gas. (Focus on Funds)
The rush of money into ETPs continued in Q1. (AlphaNow)
Reinhart-Rogoff
There are problems with the famous Reinhart-Rogoff paper. (NextNewDeal, Pragmatic Capitalism, Quartz, FT Alphaville, Big Picture, Marginal Revolution, Bonddad Blog, The Atlantic, Modeled Behavior)
Reinhart and Rogoff respond. (Real Time Economics)
Economy
Another spring slowdown is here. (Tim Duy)
How can the ECB fight fragmentation of the eurozone? (Gavyn Davies)
Earlier on Abnormal Returns
Turning off the news and tuning into the flow. (Abnormal Returns)
On the challenges of sticking to a plan in the face of emotional volatility. (Abnormal Returns)
The Abnormal Returns book is a year old (and hopefully still relevant). (Abnormal Returns)
Mixed media
Can crowds help diagnose rare diseases? (GigaOM)
The gourmet cupcake market is crashing. (WSJ)
Juice is going (way) upscale. (NYTimes)
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