Quote of the day

Phil Pearlman, “When an asset that has had a great run breaks, its broken, and there is not enough wishing in the universe that can ever change that.”  (Phil Pearlman)

Chart of the day


Hard to say the S&P 500 isn’t overbought.  (StockCharts Blog)


How worried should be about rising margin debt levels?  (WSJ)

How today’s market resembles 1995.  (Unexpected Returns)

Please note the differences between dividend-focused ETFs.  (WSJ)

Three strategies most at-risk to a turn in liquidity.  (MoneyBeat also FT)

On the importance of matching your trading methodology with your personality.  (TraderPlanet)


Amazon vs. Apple vs. Google vs. Facebook.  (Quartz)

Yahoo! ($YHOO) is on a startup buying spree.  (Pando Daily)

Just how big could Tesla Motors ($TSLA) get?  (Ivanhoff Capital, Slate also Avondale Asset)

Carl Icahn is ready to make an offer for Dell ($DELL).  (Dealbook, Term Sheet)

Why DirecTV ($DTV) should spinoff its Latin American operations?  (SumZero)

Hedge funds

Hedge fund honchos are in search of the next crisis.  (FT)

Why we should lay off John Paulson.  (The Reformed Broker)

Valuing a hedge fund is a tough thing.  (Felix Salmon)


Yet another day in which it was tough to be a short seller.  (Reuters)

CME Group ($CME) is on the hunt to develop new markets.  (Economist)


Why is Germany doing THAT much better?  (NYTimes)

Emerging market bond yields have plunged.  (beyondbrics)

Just how big a deal is Yen 100 anyway?  (FT Alphaville)

Can you remember a situation so stark as the Nikkei vs. the Yen?  (research puzzle pix)


Checking in on some inflation statistic discrepancies.  (macroblog)

The Macro-Markets Risk Index continues to strengthen.  (Capital Spectator)

Four long leading indicators that are positive.  (Bonddad Blog)

Do we need to worry about farmland prices?  (Fortune)

Mixed media

Why the news media is worse than you think.  (ROI)

Bloomberg reporters have been snooping on terminal clients.  (FT Alphaville, NY Post, FT)

RIP, long time Barron’s columnist Alan Abelson.  (Barron’s, TRB, Big Picture, Talking Biz News, WSJ)

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