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Quote of the day

Barry Ritholtz, “There is asset management, and there is infotainment, and never the twain shall meet.”  (Big Picture)

Chart of the day

GLD data by YCharts

Where are gold and Apple ($AAPL) seemingly trading together?  (Money Game)

Markets

On the great stock shortage.  (The Reformed Broker)

Is David Tepper right on net debt?  (A Dash of Insight)

Upside breakouts are everywhere.  (Humble Student)

Just how overvalued are junk bonds?  (Income Investing)

Strategy

Don’t trade if your head is not clear.  (Joe Fahmy)

You can’t judge analysts simply by the numbers. (research puzzle pix)

Retirement

The 4% retirement withdrawal rule is now outdated.  (NYTimes)

The US retirement savings system is average at best.  (NYTimes)

Companies

Blackberry ($BBRY) opened up BBM four years too late.  (A VC)

Loews ($L) is still cheap on a sum-of-the-parts basis.  (Beyond Proxy)

Bloomberg

Bloomberg is expanding beyond its core terminal business.  (Dealbook)

Bloomberg is watching you and most companies are happy with that.  (Felix Salmon)

Is Bloomberg simply trying to do too much under one roof?  (FT Alphaville)

Finance

Banks have been too focused on product and not enough on risk.  (Institutional Investor)

Buyout funds are shifting from buy to build.  (WSJ)

Hedge funds continue to work their way into the mutual fund business.  (FT)

Seasonal Odds has big ambitions.  (Institutional Investor)

ETFs

On the dual standard for using backtest data to market ETFs.  (IndexUniverse)

Financial advisors are driving the growth of ETFs.  (FT)

Running an index is not a no-cost endeavor.  (IndexUniverse)

Global

The Eurozone recession , including Spain, just keeps on getting worse.  (Quartz, Bonddad Blog)

Expect the Bank of England to follow the Fed not the BOJ.  (Gavyn Davies)

New Zealand joins the global currency war.  (WashingtonPost)

Economy

Industrial production declined in April.  (Calculated Risk, Capital Spectator)

Homebuilders are becoming increasingly confident.  (Calculated Risk)

Farmland prices continue to rise.  (Real Time Economics)

Mixed media

The experience of Square shows us that the credit card isn’t going anywhere, anytime soon.  (Slate)

Crowdfunding is changing the way we approach causes.  (FT Alphaville)

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