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)


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)


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)


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)


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)


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)


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)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.