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Quote of the day
Ivan Hoff, “The world is going faster. A lot faster. Does that mean that you have to become faster in order to survive and prosper. No! Velocity is not your forte in a world driven by high frequency algorithms that make several thousand trades in a second.” (Ivanhoff Capital)
Chart of the day
The broadband era illustrated. (SplatF)
Markets
What if the markets were undervalued… (Howard Lindzon)
Where’s all the Dow 15,000 exuberance? (Big Picture also Wonkblog)
Most investors have missed the move from 10,000 to 15,000. (A Dash of Insight)
How dangerous are Treasury bonds? (LearnBonds)
What should we call ‘junk bonds‘ now that they yield less than 5.0%? (FT Alphaville)
Strategy
What it’s like to be an ‘eclectic opportunist‘ investor. (Howard Lindzon)
Forecasts are not analysis, they are predictions. (Big Picture)
Money chases performance, not value. (The Reformed Broker)
Retirement
The current retirement system is not working according to Larry Fink. (Fortune)
Charlie Ellis on how much your money manager is costing you. (CNNMoney)
Cash hoarders
Why Apple ($AAPL) borrowed money instead of repatriating cash. (FT)
Samsung has a cash problem: too much of it. (WSJ)
Add Qualcomm ($QCOM) to the list of cash hoarders. (Peridot Capitalist)
Hedge funds
Debt-focused hedge funds are “expanding rapidly.” (Bloomberg)
Equity long/short are having a good year. (FINalternatives)
Commodity hedge funds are bleeding cash. (FT)
Last year’s Ira Sohn Conference picks have been a mixed bag. (FT)
Finance
Kleiner Perkins is no longer the top of the pack. (Dealbook)
Institutional investors need to start exercising their power. (Institutional Investor)
Real estate
Freddie Mac is killing it. (Reuters)
Institutional investors are upping their real estate risk. (WSJ)
How bonds backed by subprime mortgages became worth so much. (HedgeWorld)
ETFs
ETFs continue to work their way into institutional portfolios. (FT)
The ETF Deathwatch for May 2013. (Invest with an Edge)
Don’t sell in May: rotate. (allETF)
Global
Analysts are raising Japanese earnings estimates. (Sober Look)
German industrial production is coming back. (Quartz)
In search of a good Canadian real estate short opportunity. (WSJ)
60% of Chinese millionaires want to emigrate. (Quartz)
Why Europe is doomed. (Felix Salmon)
Inflation is falling around the world. (FT Alphaville)
Economy
The US economy is steadily improving. (Tim Duy)
Does temp employment forecast jobs growth? (Calculated Risk)
Homebuilder stocks are back to 2007 levels. (Carpe Diem)
Earlier on Abnormal Returns
Hardened world views often lead to poor investing outcomes. (Abnormal Returns)
Finance blogging is not for the faint of heart. (Abnormal Returns)
The New Economy
On the state of the “sharing economy.” (The Atlantic)
Is Bitcoin now becoming legit? (Howard Lindzon)
Finance media
Cullen Roche on why he blogs. (Pieria)
CNBC’s ratings are at decade lows. How to fix it. (Zero Hedge, Adam Warner)
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