Quote of the day

Eddy Elfenbein, “(N)ow more than ever, day trading is a fool’s errand. If you were ever tempted to enter the fray, recognize once and for all that those banks of computers chugging away at their algorithms have you hopelessly outclassed.”  (Crossing Wall Street)

Chart of the day

On the changing nature of the precious metals market.  (Market Anthropology, ETF Trends)

Markets

Just because interest rates are rising does not mean the stock market has to decline.  (AB)

By these measures the stock market is not that expensive.  (The Reformed Broker)

It’s been a good time for anything ‘green.’  (Charts etc.)

Strategy

Successful market timing is a myth.  (Servo Wealth via @ritholtz)

On the value of not knowing.  (Big Picture)

34 insights from Nassim Taleb author of Antifragile: Things That Gain from Disorder. (Farnam Street)

Companies

Meet WinCo, Wal-Mart’s ($WMT) worst nightmare.  (Time via @ppearlman)

Warren Buffett is having a hard time bagging a ‘whale.’  (WSJ)

Finance

Is the private equity exodus something to worry about?  (Unexpected Returns)

When hedge fund managers get desperate…bad thing happen.  (Jeff Matthews, Phil Pearlman)

Global

Norway’s oil fund is getting a bit more active.  (FT, WSJ)

Two reasons why copper is heading higher.  (Sober Look also WSJ)

Why are JGBs so calm?  (FT Alphaville)

Economy

American consumers are being asked to save the global economy…again.  (Quartz)

Three economic stories getting blown out of proportion.  (Motley Fool)

Rail traffic is picking up steam.  (Pragmatic Capitalism)

Baby boomers are moving to hipster neighborhoods.  (WSJ)

Earlier on Abnormal Returns

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

Mixed media

A vote for The Art of Value Investing: How the World’s Best Investors Beat the Market by John Heins and Whitney Tilson.  (Market Folly)

On the dangers facing Alaskan pollock via Kevin M. Bailey, author of the new book Billion-Dollar Fish.  (The Daily Beast)

What do if your flight is delayed?  (Slate)

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