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Quote of the day
Frank Zorilla, “Sometimes you are going to sell early and wish you would’ve held on, other times you will hold on a little bit longer and wish you would’ve sold early- -this is just part of the game.” (ZorTrades)
Chart of the day

The put-call ratio is low. (Charts etc.)
Markets
On the meaning of “new all-time highs.” (The Reformed Broker)
There is a shocking amount of consensus on Wall Street. (Big Picture)
Signs of stock market divergences. (The Short Side of Long)
2013 was the year of the stock buyback. (FT Alphaville)
The case for…
The case for TIPS. (Income Investing)
The case for commodities. (FT)
The case for European equities. (Humble Student)
The case against corporate credit. (FT Alphaville, Income Investing)
Strategy
Jeff Gundlach likes gold and gold miners. (Business Insider, Pragmatic Capitalism)
Why does anyone still listen to uber-bears like Albert Edwards? (MoneyBeat)
How paper trading can help novice traders. (SMB Training)
Diversification
On the diversification properties (or not) of gold. (Random Roger)
Diversification works…for the patient. (Marketwatch)
Finance
Meet your new king of bank profits: Wells Fargo ($WFC). (WSJ)
Wall Street’s attempt to limit the hours analysts work is futile at best. (The Epicurean Dealmaker also Bloomberg)
ETFs
Just how “alternative” are alternative funds? (Morningstar)
How a negative duration bond ETF works. (IndexUniverse)
The complete list of new ETPs in 2013. (Invest with an Edge)
Global
Which country is next up for a financial crisis? (Marginal Revolution, ibid)
Funding problems have come to Asia. (FT)
Economy
The case for a stronger dollar in 2014. (Pragmatic Capitalism)
Earlier on Abnormal Returns
My best investment for the next decade: you. (Business Insider)
Abnormal Returns was included this list of the top ten blogs to follow. (RIABiz)
What you missed in our Tuesday linkfest. (Abnormal Returns)
Mixed media
Google ($GOOG) is pushing hard to get better at design. (Daring Fireball)
What is the point of the hot new app Whisper? (New York)
What the end of net neutrality means for media startups. (A VC)
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