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Quote of the day

Simon Lack, “There’s not a lot of money to be made in telling people not to invest in hedge funds. Eventually persistently poor performance will drive people out, but it takes time.”  (Fortune)

Chart of the day

Check out the growing divergence between lumber and the homebuilders.  (StockCharts Blog)

Markets

Signs that investors are still exceedingly fearful of the stock market.  (Joe Fahmy)

Where market stand today.  (The Reformed Broker)

How to approach an overbought market.  (Big Picture)

On the prospect of a big bond sell-off.  (Money Game)

The utilities sector is pulling back.  (MoneyBeat)

Strategy

What kind of investor are you?  (Howard Lindzon)

Mistakes money managers make.  (Aleph Blog)

Why do peer-to-peer loans seem scarier than other high yield investments?  (Learn Bonds)

Indexing

On the penetration rate of broad, low cost portfolios.  (Vanguard Blog)

Three simple, lazy portfolios.  (Rick Ferri)

Companies

The cable industry is doing just fine despite a drop in video customers.  (The Atlantic)

Why CEOs should consider paying higher dividends.  (MoneyBeat)

Hedge funds

Big companies are no longer immune from pressure from activist investors.  (Economist)

Hedge funds are having a tough time of it under Bernanke.  (Bloomberg)

Finance

The Fed is killing the repo market.  (WSJ)

When will investors return to venture capital?  (FT)

Why it is going to be hard to displace Bloomberg’s chat dominance.  (Quartz)

Global

Japan’s stock market tanks ending a huge run.  (Charts etc., Buttonwood)

China’s manufacturing economy is still weak.  (Quartz)

On the Euro depression.  (Bonddad Blog)

Economy

Weekly initial jobless claims continue their downward trend.  (Calculated Risk, Capital Spectator)

There are four months of new home supply.  (Calculated Risk)

Falling inflation is complicated the Fed’s exit plan.  (Gavyn Davies)

Mixed media

Open-plan offices stink.  (Quartz)

How to enjoy your decision: start with fewer options.  (Scientific American)

In a rut? Read The Plateau Effect: Getting from Stuck to Success by Bob Sullivan and Hugh Thompson.  (FT)

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