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Quote of the day

Joshua Morgan Brown, “As the behavior of investors and their advisors has changed, it’s had an anthropomorphic effect on the stock market itself.”  (The Reformed Broker contra Above the Market)

Chart of the day


It now may be time for India to outperform.  (All Star Charts)


New highs are not a bad thing for the market.  (Barry Ritholtz)

What percentage of tech stocks are overvalued?  (Business Insider)

Is the bond rally over?  (Andrew Thrasher)

Dividend payers continue to underperform.  (Disciplined Investing)

You are looking at the wrong historical market analog.  (Market Anthropology)


There’s always a risk factor at work. Pick your poison.  (Capital Spectator)

Does it matter if the ‘hot hand effect‘ is real?  (Pragmatic Capitalism)

On the value of focusing on finding neglected companies.  (Aleph Blog)

Why Yale is sticking with its active strategy.  (Above the Market)


Varadha Ragunathan, “Remember, there are very few companies that can deploy larger and larger dollops of capital and sustain the same rate of return.”  (BeyondProxy)

Now it is the car makers turn to hoard cash.  (WSJ)

Yahoo ($YHOO) is making it harder to log on to its services.  (Quartz, )


Appraisal rights are the hot, new tool for activist investors.  (Dealbook)

Private equity is still sitting on $1 trillion in buying power.  (Term Sheet)


Are investors really waiting with bated breath for active ETFs?  (WSJ)

PIMCO: there is a difference between wanting to work there and investing in their funds.  (Rekenthaler Report)

On the benefit of mixing active and passive funds.  (WSJ earlier Abnormal Returns)


Uh oh. The weakest ISM services report since February 2010.  (Bespoke)

How the baby bust is hurting the US economy.  (The Atlantic)

In a world of bits and bytes measuring economic progress becomes more difficult.  (FT)

Earlier on Abnormal Returns

Sign up for our big winter finance book giveaway.  (Abnormal Returns)

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

Mixed media

Premium economy” is the new business class.  (WSJ)

You don’t make it onto the Forbes billionaire list buying and selling stocks.  (Mark Hulbert)

Why designers should read Jony Ive, The Genius Behind Apple’s Greatest Products by Leander Kahney.  (Asymco)

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