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Quote of the day

Derek Hernquist, “Luckily, markets give us a chance to go to our corner, regroup, and get ready for the next opportunity.”  (Derek Hernquist)

Chart of the day


What should we make of the rollover in lumber?  (StockCharts Blog)


Most asset allocation schemes get you pretty much to the same place.  (Turnkey Analyst)

At what point does indexing becoming an issue?  (ThinkAdvisor)


A rave review for Timothy F. McCarthy’s The Safe Investor: How to Make Your Money Grow in a Volatile Economy.  (Aleph Blog)

Vineer Bhansali’s Tail Risk Hedging: Creating Robust Portfolios for Volatile Markets takes on the question of diversification. (Reading the Markets)

John Mihaljevic’s The Manual of Ideas: The Proven Framework For Finding The Best Value Investments is worthwhile reading for intermediate value investors.  (Greenbackd)


Why the market is still wrong about Apple ($AAPL).  (Felder Report)

What is Apple going to do with all that cash?  (Bloomberg)

How the iPad displaced the PC as the general computing device.  (stratechery also ReadWrite)


When in doubt buy back shares: the Dow Chemical ($DOW) edition.  (Dealbook)

Yet another company, Sotheby’s ($BID) caves to an activist.  (MoneyBeat)

Howard Schultz really likes to fly.  (footnoted)


What happens if an active ETF gets too popular?  (Focus on Funds)

Smart beta funds require ongoing diligence.  (ETF)

Fees matter: mutual fund or ETF.  (Vanguard Blog)


Emerging market currencies have been downtrending for three years now.  (The Short Side of Long)

Turkey hikes rates (a lot) to stave off a currency run.  (WSJ, FT, Quartz, Macro Man)

Trying to put a number on Chinese GDP growth.  (Econbrowser)


Will the US economy take a hit from emerging market weakness?  (Businessweek)

Consumer confidence is greatly influenced by the jobs outlook.  (Dr. Ed’s Blog)

Earlier on Abnormal Returns

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

Mixed media

Why Bitcoin loses to Amex.  (Andy Swan)

Why is Estonia so wired?  (Ben Horowitz)

Why journalists are going out on their own: technology.  (Digitopoly)

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