If you haven’t done it already think about signing up for our daily e-mail, thousands of other Abnormal Returns readers already have.

Quote of the day

Burton Malkiel, “You can’t control what markets can do, but you can control the costs you pay. The less you pay to the purveyors of investment services, the more there will be for you.”  (WSJ)

Chart of the day

XLF Total Return Price Chart

XLF Total Return Price data by YCharts

Financial stocks are leading the market higher.  (Risk Reversal)


What is behind the pull back in low vol ETFs?  (IndexUniverse, Focus on Funds)

There is no single measure of market sentiment.  (Phil Pearlman, Bespoke)

Why the rate of change in interest rate matters.  (Aleph Blog)


Focus on what you control, ignore what you cannot.  (Big Picture)

Markets can’t help themselves when it comes to finding something to gamble on.  (Felix Salmon)


Warren Buffett goes bargain shopping in the utilities sector.  (Bespoke, Dealbook)

Elon Musk got much better deal from Tesla ($TSLA) than Uncle Sam did.  (Slate)

Why Apple ($AAPL) isn’t doing big deals.  (Asymco)


Buybacks are the new R&D.  (The Reformed Broker)

Why CEOs love buybacks versus dividends or capex.  (Reuters)


What exactly happened during the botched Facebook IPO?  (Dealbreaker)

Pension funds are bringing investment management in-house.  (Institutional Investor)

Distressed debt investors are targeting Europe.  (FT)


Fidelity’s ETF plans are becoming more clear.  (IndexUniverse)

Broad market does not equal total market.  (Rick Ferri)

Mutual funds are disappearing at an increasingly rapid rate.  (Forbes)


How did the Philippines become a growth powerhouse? (Quartz)

Andy Hall thinks it is time to temper our expectations for the shale gas revolution.  (FT)


Initial jobless claims seems to have flattened out.  (Capital Spectator)

Is GDP really capturing what is going on in the economy?  (Real Time Economics)

This is not a housing bubble.  (Bonddad Blog)

Look to September for a Fed policy change.  (Tim Duy)

Mixed media

CNBC’s ratings hit a level not seen since April 2005.  (Talking Biz News)

Why is Netflix ($NFLX) encouraging binge watching?  (Atlantic Wire)

How is Quartz doing?  (Digiday via mediagazer)

The job of the social media editor is now dead.  (Buzzfeed)

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.