Quote of the day

Brian Portnoy, “(T)here is really nothing passive about “passive” investing. It involves a series of choices, some much more complicated in both financial and behavioral terms than the casual observer might recognize.”  (Forbes)

Chart of the day


Utilities have been crushing it YTD.  (Barron’s)


Why you should embrace the rotation away from technology stocks.  (Barry Ritholtz also BI)

Nearly every major Internet stock is oversold.  (Bespoke)

Volatility is still not all that impressive.  (Focus on Funds)


Backwardation and the case for commodities.  (FT also MacroBusiness)

El Niño has historically led to higher food prices.  (WSJ)


There is a big difference between trading for yourself and trading for others.  (Joe Fahmy)

Brett Steenbarger, “A disconfirmed hypothesis is also information.”  (TraderFeed)

On the illogic of active trading.  (Bucks Blog)


What should make of Fama and French’s new model, sans value?  (Morningstar)

One way how hedge funds make money with the help of the sell-side.  (Turnkey Analyst)

Do financial bloggers make markets more efficient?  (SSRN via @jasonzweigwsj)


Pfizer ($PFE) no longer wants to be an American company.  (Dealbook, Fortune, FT)

Can this guy fix Twitter’s ($TWTR) user problem?  (WSJ)

Why Apple ($AAPL) is splitting its stock.  (FT Alphaville, MoneyBeat)


2014 has already been a big year in dealmaking.  (Bloomberg, WSJ)

So much for the Energy Future Holdings buyout.  (Dealbook)

Apple is becoming quite the bond issuer.  (Bloomberg)


Check out this almost-free globally diversified ETF portfolio.  (ETF)

Does ETF ownership increase share volatility?  (FT Alphaville)


Case-Shiller shows continued strong home price growth.  (Calculated Risk)

Why boring economic news is a good thing.  (NYTimes)

What factors into the wealth effect?  (Crackerjack Finance)

The financial crisis happened in part because of an absent media according to Dean Starkman author of The Watchdog That Didn’t Bark: The Financial Crisis and the Disappearance of Investigative Journalism.  (Unexpected Returns)

Earlier on Abnormal Returns

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

Mixed media

Tony Schwartz, “Personal accomplishments make us feel good. Adding value to other people’s lives makes us feel good about ourselves.”  (Life@Work)

Ten ways to stay healthy: advice from 1957.  (Business blog, FT)

How to earn back an hour each day.  (Fast Company)

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