Quote of the day
Cullen Roche on the “long cash squeeze. That is the feeling of being long cash that you want to deploy as the market rises. So you wait for the market to correct, but it never does.” (Pragmatic Capitalism)
Chart of the day
IBB Total Return Price data by YCharts
Biotech stocks are hot, hot, hot. (UpsideTrader, Barron’s)
Markets
Defensive sectors led to the upside last week. (Dynamic Hedge)
Investors are fleeing high yield bond funds. (Sober Look)
How some professionals invest in closed-end funds. (Morningstar)
An example why you shouldn’t take gold bugs too seriously. (Mark Dow)
Strategy
Covered calls are not a “protection strategy.” (Jason Zweig)
There is always the risk of a correction. Why that shouldn’t prevent you from investing. (A Dash of Insight)
How emotions get the better of investors. (Interactive Investor via @monevator)
Too much information can choke an investor. (Investing Caffeine)
A review of John Del Vecchio and Tom Jacobs’ What’s Behind the Numbers? A Guide to Exposing Financial Chicanery and Avoiding Huge Losses in Your Portfolio. (Enterprising Investor)
Companies
What next for Hulu? (Pando Daily, Term Sheet, BW)
What is UPS ($UPS) telling us about the global economy? (MoneyBeat)
Finance
Is the practice of selling data to the highest paid customers legit? (Felix Salmon, James Stewart)
Why do pension funds continue to pour money into alternative assets? (Economist)
Dark pools are going to have to provide more data to regulators. (WSJ)
Hedge funds
In defense of hedge funds. (Dvega/Dtime)
Bill Ackman has not had a good year. (Business Insider)
Global
Why is the UK reluctant to join the shale gas revolution? (Project Syndicate)
Where did all the coffee drinkers go? (Economist)
Economy
Why the Fed is so divided at the moment. (Sober Look)
Rail traffic continues to struggle. (Pragmatic Capitalism)
Now is the time to borrow to fix our crumbling infrastructure. (Barry Ritholtz)
Encouraging homeownership was all about savings. Maybe it is time to re-think things. (NYTimes)
A look back at the week in economic statistics. (Bonddad Blog)
The economic schedule for the coming week. (Calculated Risk, Business Insider)
Earlier on Abnormal Returns
What you may have missed in our Saturday linkfest. (Abnormal Returns)
Top clicks this week on the site. (Abnormal Returns)
Mixed media
Prismatic, or some other machine learning algo, will put this blog out of business. (Slate)
MLB is really acting like it wants to put steroid users out of business. (NYTimes)
Forget 3D printing, CNC milling may put some woodworkers out of business. (Quartz)
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