On the bookshelf: The Undercover Economist Strikes Back: How to Run or Ruin an Economy by Tim Harford.
Quote of the day
Robert Seawright, “Investing is hard enough without trying to foist an ideological overlay to it.” (Above the Market)
Chart of the day
Manchester United ($MANU) and the peril of poor on-field performance. (Quartz)
Markets
Breadth, rotation, and leadership are all in a state of flux. (Dynamic Hedge)
Did the stock market ever really get oversold? (The Short Side of Long, @boes_)
Expect more volatility. (Humble Student)
Why we get used to volatility regimes. (research puzzle pix)
Strategy
The stock market is an expensive place to find out who you are. (Jason Zweig)
Flows don’t follow value, they follow performance. (The Reformed Broker)
The January indicator is a waste of time. (Free exchange)
Why you should buy what scares you. (Chuck Jaffe)
Research
The professionalization of stock ownership ironically requires less active management. (SSRN)
Institutional investors tax-loss sell as well. (SSRN)
Companies
The challenge(s) Twitter ($TWTR) faces in getting new users. (Herb Greenberg, Phil Pearlman, Re/code)
Which internet stock is most overvalued? (Rational Irrationality)
GoPro Inc. is going public. (WSJ)
Five smart things Under Armour ($UA) did to take on the sports wear giants. (Washington Post)
Social IR
How Twitter killed the earnings conference call. (Tom Keene)
Why the StockTwits crowd beats CNBC. (BreakingCall)
Finance
Why hedge funds have become highly correlated with the S&P 500. (Focus on Funds)
Should we blame penny spreads for the dearth of small cap offerings? (Bloomberg)
High frequency trading isn’t about providing liquidity. (The Atlantic)
Hedge fund fees are falling, albeit slowly. (Economist)
ETFs
The ETF Deathwatch for February 2014. (Invest with an Edge)
Don’t forget that poor performing funds are often closed. (A Wealth of Common Sense)
Global
Why emerging markets should look within. (Tyler Cowen via Marginal Revolution)
Deep corrections in the emerging markets are not unusual. (Rick Ferri)
Economy
Monthly payroll numbers are really noisy. (Felix Salmon)
How much has bad weather played in recent economic disappointments? (A Dash of Insight)
Are consumers really leveraging back up again? (Sober Look)
A look back at the economic week that was. (Bonddad Blog, (Big Picture)
The economic schedule for the coming week. (Calculated Risk, Turnkey Analyst)
Earlier on Abnormal Returns
Compounding experience, not just interest, redux. (Abnormal Returns)
Top clicks this week on the site. (Abnormal Returns)
What you missed in our Saturday linkfest. (Abnormal Returns)
Mixed media
On the gamification of the modern economy. (FT Alphaville)
How much are your anonymous “secrets” worth? (SplatF)
How survivorship bias creates an impossible standard. (John Lilly via @mattermark)
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