Quote of the day

Charles Kirk, “Making mistakes is part of the game and we all make our fair share. If you can honestly forgive yourself right now, you will take the first step toward having your best year ever.”  (Kirk Report)

Chart of the day


Crude oil has given up is December gains.  (Bespoke)


Warren Buffett’s favorite valuation indicator shows the stock market to be overvalued.  (Business Insider)

Momentum works at the asset class level.  (Systematic Relative Strength)

Why aren’t there chicken futures?  (Wonkblog)


Four reasons to use investment checklists.  (Institutional Investor)

Evidence that investors confuse brains with luck.   (SSRN via @jasonzweigwsj)

Is sell-side research more valuable in bad times?  (NBER via Bloomberg)


Apple ($AAPL) continues to make inroads into Corporate America. (WSJ)

Why is FedEx ($FDX) stock continuing to go higher?  (research puzzle pix)


The hedge fund industry defends itself.  (FT Alphaville)

Apollo Global Management ($APO) just raised a huge buyout fund.  (FT)

Blackrock ($BLK) got slapped down by the New York AG despite doing nothing wrong.  (Felix Salmon)


MFS is getting into the actively managed ETF game.  (Focus on Funds, InvestmentNews)

Mutual funds once again have a tax problem.  (Turnkey Analyst)


The December jobs report was a big disappointment.  (Calculated Risk, Quartz, Felix Salmon, Bonddad Blog, )

The pre-NFP case for an accelerating economy.  (FT Alphaville)

Market-derived inflation expectations are on the rise.  (Capital Spectator)

Who does the Fed serve?  (Pragmatic Capitalism)

Earlier on Abnormal Returns

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

Mixed media

Why self-sustaining mobile apps like SnapChat are so rare.  (Haywire)

John Rekenthaler test drives Betterment.  (Morningstar)

The ways in which aerial drones could be used in the real world.  (Daniel Nadler)

You can support Abnormal Returns by shopping at Amazon. You can also 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.