On Warren Buffett’s bookshelf: The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel by Benjamin Graham (and Jason Zweig).
Quote of the day
Bob Lefsetz, “Apple is not going to revolutionize television. Content owners won’t let them.” (Big Picture)
Chart of the day

Home Depot ($HD) and the housing market. (Maximum Advisors via @reformedbroker)
Markets
Another sign that retail investors are returning to the stock market. (Business Insider)
The stock market has (for now) forgiven weaker economic data. (A Dash of Insight)
Why how we talk about the economy and stock market matter. (NYTimes)
Strategy
Should emerging markets be a permanent fixture in your portfolio? (Jason Zweig)
Trading without a plan is gambling. (All Star Charts)
Berkshire Hathaway
Warren Buffett’s 2013 letter to Berkshire Hathaway ($BRKB) shareholders. (Berkshire Hathaway)
Parsing the Berkshire letter. (Aleph Blog)
17 quotes from the Berkshire letter. (Clear Eyes Investing)
Is Berkshire getting too big for its own good? (Pragmatic Capitalism)
What Buffett holding is flying under the radar? (Jeff Matthews)
Buffett’s annual shareholder letter is a great free investment education. (A VC)
ETFs
The definitive guide to 2014 ETF taxation. (ETF)
Do ETFs turn investors into traders? (Mark Hulbert)
Economy
Why Bitcoin should be focused on “money as a unit of account.” (Economist’s View)
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
Top clicks this week on the site. (Abnormal Returns)
What you may have missed in our Saturday linkfest. (Abnormal Returns)
Mixed media
Seth Godin, “Proximity is not a stand in for expertise.” (Seth Godin)
Why America is set for a taco revolution. (Slate)
In praise of “amateur blogging” as a way to collect your thoughts. (RicMac via @howardlindzon)
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