Quote of the day
Chris Dillow, “(M)y point is that discussions of the market should be scientific: is there evidence of predictability or not? What they should not be is just some guy’s judgement.” (Stumbling and Mumbling)
Chart of the day
Tesla ($TSLA) is a great example of why shorting based on valuation is a tough game. (MoneyBeat)
Markets
Utopian-style talk often shows up at the end of a boom. (FT Alphaville)
Signs we are closer to the top than bottom. (The Reformed Broker)
The case for gold and silver. (Market Anthropology)
Frontier vs. emerging markets: valuations. (beyondbrics)
Strategy
Complexity kills. (Morgan Housel)
Traders need to lead a balanced life. (TraderFeed)
SEC employees are pretty good traders. (Turnkey Analyst)
Finance
Why Silicon Valley is the new Wall Street. (Howard Lindzon)
Two unique financial companies are coming public. (FT)
Why Simple sold to BBVA. (Business Insider)
US pension funds are de-risking. (FT)
The guy behind @GSElevator unmasked. (Dealbook)
Pimco
Why Mohamed El-Erian quit Pimco. (WSJ)
It’s time for Bill Gross to retire. (Felix Salmon)
Bitcoin
Where did MtGox Bitcoin go? (Yahoo Finance, Dealbook, WSJ, Quartz)
Bitcoin “represents a collective delusion.” (Barry Ritholtz)
Regulators are sounding the alarm on Bitcoin. (Chuck Jaffe)
ETFs
Additional indexing has yet to make active management a layup. (Rick Ferri)
On the high cost of actively managed funds. (Economist)
Cash is once again flowing into bond ETFs. (WSJ)
Hedged ETFs are a more precise vehicle. (ETF)
Economy
Case-Shiller numbers showed the housing economy was on pace at year-end. (Calculated Risk)
Why taxpayers deserve every penny of Fannie and Freddie’s profits. (Fortune)
Earlier on Abnormal Returns
What you may have missed in our Monday linkfest. (Abnormal Returns)
Mixed media
RIP, Harold Ramis. (Chicago Tribune)
A classic profile of Ramis. (New Yorker)
The economics of Ghostbusters. (Quartz)
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