Quote of the day

Roger Nusbaum, “How many great investors do you know of who attribute their success to being impatient?”  (Random Roger)

Chart of the day

XHB Total Return Price Chart

XHB Total Return Price data by YCharts

Homebuilder stocks have lost momentum.  (Sober Look)

Video of the day

John Rekenthaler on what current fund themes are investment fads.  (Morningstar)


Investors still scared of hate the stock market.  (InvestmentNews, Joe Fahmy, Charts etc.)

Three signs of a market top.  (Mark Hulbert)

Comparing the “to-maturity” bonds funds.  (Learn Bonds)


A succinct summary of Carl Richard’s views on investing.  (IndexUniverse)

On the high costs of leverage.  (aiCIO via @researchpuzzler)

Sources of momentum in bond returns.  (SSRN)

The plan you need before you ever trade.  (StockCharts Blog)


What Marissa Mayer needs to do next to really turnaround Yahoo! ($YHOO).  (Pando Daily, WSJ)

Jeff Bezos just doesn’t seem to be motivated by profits at Amazon ($AMZN).  (Slate, Quartz)

SAC Capital

Jason Zweig, “Sophisticated” institutional investors still insist on believing in a Tooth Fairy that can somehow miraculously provide market-beating returns for everyone. Maybe that is the biggest crime of all.”  (WSJ)

The trading playing field was never level and never will be.  (Reuters, Institutional Imperative)

SAC investors may be facing clawbacks.  (TSF)

The decision facing SAC investors.  (Turnkey Analyst)

SAC Capital is a “cash cow” for Wall Street providers.  (Dealbook)


Finally some one who appreciates higher interest rates: corporate pension funds.  (The Financialist)

Why a company’s stock price matters.  (Aleph Blog)

How LearnVest wants to upend the market for financial advice.  (NYTimes)


Is is time for a bounce in the Aussie dollar?  (WSJ)

Has the Spanish economy turned?  (MoneyBeat)

A big baby drought in Ireland, Spain and Italy.  (FT)

Watch for signs of financial fragility in China.  (Econbrowser)

Inflation is ticking up in Japan.  (Quartz)


Are rising rates beginning to bit the housing economy?  (Tim Duy also Humble Student)

Quantitative easing is now a part of the economic mainstream.  (Free exchange)

Consumer sentiment is at a six-year high.  (Calculated Risk, Bespoke)

Rail traffic is still pretty sluggish.  (Pragmatic Capitalism)

Are government stats missing the booming data economy?  (The Atlantic)

Earlier on Abnormal Returns

What you may have missed in our Thursday linkfest.  (Abnormal Returns)

Mixed media

The Chevy Impala and the American car comeback.  (LATimes)

The ‘smart home‘ has some security holes.  (GigaOM)

MIT creates the world’s first perfect mirror.  (Extreme Tech)

How the moon messes with your sleep.  (Time)

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.