Quote of the day

Burton Malkiel, “The major inefficiency in financial markets today involves the market for investment advice, and poses the question of why investors continue to pay fees for asset management services that are so high.”  (askblog)

Chart of the day

The stock market has powered higher despite positive economic surprises stalling out.  (VIX and More)

Markets

Keep an eye out for a “melt up mode” market.  (UpsideTrader)

In case you needed another reminder of the strength of the market. (Dynamic Hedge)

Equity market sentiment is getting frothy.  (The Short Side of Long)

All eyes are on record high corporate profit margins.  (MoneyBeat)

What’s the deal with the drop in lumber futures?  (Sober Look)

Cancelled trades destroy the integrity of the market.  (Kid Dynamite also MoneyBeat)

Strategy

Why you should take a business-like approach to trading.  (StockCharts Blog)

Traders should focus on this one goal.  (Joe Fahmy)

The gender gap in financial knowledge is a myth.  (NYTimes)

Companies

The only way a Yahoo! ($YHOO)-Tumblr deal makes sense.  (GigaOM)

What is the problem(s) with Wal-Mart ($WMT)?  (Slate)

Why we need a Bitcoin bubble. (Pando Daily, ibid)

Finance

Blackstone Group ($BX) is trying to build a super-hedge fund.  (FT via Dealbreaker)

Acquiring BGI was a huge move for Blackrock ($BLK).  (Morningstar)

Blackrock is beginning to flex its shareholder muscles.  (NYTimes)

Tech IPOs are once again seeing big first day pops.  (MoneyBeat)

We are paying too much attention to 13-Fs.  (Dealbreaker)

Money

Everyone calling for a surge in inflation these past five years has been dead wrong.  (Money Game)

Beware knee-jerk reactions to Fedspeak.  (A Dash of Insight)

A sign that Abenomics might actually be working.  (Money Game)

Economy

Don’t ask an economist for stock market advice.  (NYTimes)

Talk of another housing bubble is premature.  (ValuePlays, Term Sheet)

Ben Bernanke is a techno-optimist.  (Wonkblog)

A look back at the economic week that was.  (Bonddad Blog)

The economic schedule for the coming week.  (Calculated Risk)

Earlier on Abnormal Returns

What you might have missed in Saturday’s linkfest.  (Abnormal Returns)

Top clicks this week on the site.  (Abnormal Returns)

Mixed media

Remote state capitals tend to be higher on the corruption scale.  (Wonkblog)

Want to get a degree in ‘heavy metal music‘?  (Marginal Revolution)

Generational stereotypes are stupid.  (Pando Daily)

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