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Quote of the day

James Surowiecki, “Markets and economies work best when people are able to think for themselves. But when everyone is shouting at the same time, it can be hard to do that.”  (Democracy Journal)

Chart of the day

WETF Chart

WETF data by YCharts

Has the only ETF provider pure play, WisdomTree ($WETF), gotten ahead of itself?  (Focus on Funds)


Why index funds should make up a “default portfolio.”  (Morningstar)

Why bonds belong in a diversified portfolio.  (A Wealth of Common Sense)

Luck vs. skill: comparing Bill Gross and Bill Miller.  (Fortune)

Should stock pickers worry about the overall market averages?  (The Brooklyn Investor)

Should dollar-cost averagers worry about valuations?  (Focus on Funds)

Models, books and podcasts

Tom Brakke of the research puzzle fame has a new book out: Letters to a Young Analyst: Advice and Resources for Aspiring Investment Professionals.

Four questions for Greg Harmon author of Trading Options: Using Technical Analysis to Design Winning Trades.  (The Reformed Broker)

Mebane Faber’s books including the new Global Value: How to Spot Bubbles, Avoid Market Crashes, and Earn Big Returns in the Stock Market are always worth a look.  (Meb Faber Research)


Just how ambitious is Apple’s ($AAPL) move into health tracking going to be?  (Re/code)

Why the Amazon Prime price increase will stick.  (The Atlantic)


Why short-sellers love using Twitter.  (BuzzFeed)

When ‘talking your book‘ turns into hypocrisy.  (Cassandra Does Tokyo)

Look who’s funding house flippers these days.  (Bloomberg)

What do hedge fund directors actually do?  (ThinkAdvisor via Dealbreaker)


Regulators want to know if high volume traders are getting “secret deals” from the exchanges.  (WSJ, Dealbook)

Why retail brokers oppose tick size reform.  (Scott Kupor)


A recent filing may soon bring ‘spot’ commodity ETFs to market.  (Focus on Funds)

What it takes to get an ETF to $100 million in AUM.  (FT)

The world’s cheapest ETF portfolio just got cheaper.  (ETF)

The ETF Deathwatch for March 2014 is out.  (Invest with an Edge)


Dangers are building up again in the financial system.  (MoneyBeat)

Industrial metals prices are once again weakening.  (Bonddad Blog, Business Insider, BCA Research)


Which is worse: data-laziness or theory-laziness?  (Noahpinion)

Don’t expect the Fed to try to overshoot on inflation expectations.  (Tim Duy)

Why the US needs more skilled immigration, not less.  (Wonkblog)

Earlier on Abnormal Returns

Margin by another name. Why you shouldn’t borrow against your home to buy stocks.  (Abnormal Returns)

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


Google Chromecast is going global.  (TechCrunch)

Netflix clones are invading the Middle East.  (WSJ)

Can Sonos become the “Google for Music”?  (WSJ)

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