Quote of the day

Carl Richards, “Your personal finance is not your neighbor’s, your brother-in-law’s, or that person’s on TV. It’s your money, and what you do with it is your decision. ”  (Bucks Blog)

Chart of the day

The “buyback yield” on the S&P 500 has flattened out.  (FactSet)

Markets

Two things muni investors can do today.  (Alliance Bernstein)

Aren’t long rates supposed to be rising by now?  (The Felder Report)

The S&P 500 vs. forward earnings estimates.  (The Reformed Broker)

Strategy

Why value investing is so hard: Russian stocks.  (Meb Faber)

Value is a useful fiction.  (Crossing Wall Street)

Why you need an investing system.  (Oddball Stocks via Market Folly)

More on Warren Buffett’s market timing from 1981 to today.  (The Brooklyn Investor, ibid)

Companies

Why Apple ($AAPL) isn’t much closer to “cracking” the TV market.  (Quartz)

Nobody cares about GE ($GE) any more.  (WSJ)

The case for King Digital ($KING) post-IPO disappointment.  (The Exchange)

Why the big tech companies are on a spending binge.  (WSJ)

Finance

Wall Street in a nutshell.  (The Felder Report)

On Wall Street demand generates supply.  (Focus on Funds)

The top ten hedge funds by assets.  (CNBC)

Economy

Today’s economic releases show the economy remains intact.  (Calculated Risk)

Is crowdsourced labor the future of the middle class?  (The Daily Beast)

Population continues to shift towards urban areas.  (USA Today)

Earlier on Abnormal Returns

Performance measurement is a bare minimum requirement for active investors.  (Abnormal Returns)

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

Mixed media

Why streaming video is so fragmented.  (Farhad Manjoo also Wired)

Humans are bad drivers. How computers can help.  (Washington Post)

The age of renewables is here.  (Business Insider)

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