Quote of the day

Tobias Carlisle, “There’s no magic to value investment. Low yields produce low returns. High yields produce high returns.”  (Greenbackd)

Chart of the day

Twitter’s ($TWTR) lock-up expiration did not go well.  (MoneyBeat)


Should we be worried about the decline in small caps?  (Capital Spectator)

Notes from the 2014 Ira Sohn investment conference.  (The Reformed Broker, Market Folly)


Seven tips for stock traders determined to make a go of it.  (Bucks Blog)

Ten “surefire” trading rules to make you rich.  (The Reformed Broker)

The stock market owes you nothing.  (Chicago Sean)

Why emotions are key to trading.  (TraderFeed)

Why you shouldn’t idolize “billionaire investors.”  (@michaelpiper)


Should Berkshire Hathaway ($BRKB) be broken up?  (NYTimes)

Why people continue to underestimate the power of Apple ($AAPL) retail stores.  (stratechery also WSJ)


The top 25 hedge fund managers made a boatload in 2013.  (Dealbook)

Dan Loeb and Sotheby’s ($BID) have made up.  (Matt Levine)


Are buybacks a proxy for quality?  (Morningstar)

There is a new giant in the long-short equity category.  (Morningstar)


The world has a big infrastructure gap.  (Economist)

The “dash for trash” is full-on in European credit.  (FT Alphaville also Sober Look)

The UK economy is still running hot.  (Business Insider)

Emerging markets are not all the same earnings-wise.  (Dr. Ed’s Blog)


On the bounce in commodity prices.  (Bespoke)

Climate change is affecting all aspects of the US economy.  (WSJ, Vox)

One of these days Millenials will start buying houses.  (Barry Ritholtz)

Noah Smith, “Money is a really weird thing, it turns out.”  (Noahpinion)

How Gary Becker transformed the social sciences.  (The Upshot also Washington Post)

College is still a worthwhile investment, provided you finish.  (FRBSF)

Earlier on Abnormal Returns

Trading rules for the newly enthusiastic retail trader.  (Abnormal Returns)

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

Mixed media

A nice review of Joshua Brown and Jeff Macke’s Clash of the Financial Pundits: How the Media Influences Your Investment Decisions for Better or Worse.  (Aleph Blog)

A Q&A with Christiane Correa author of Warren Buffet-recommended Dream Big: A Glimpse Inside the Strategies and Tactics of 3G Capital.  (Dealbook also Santangel’s Review)

Why the HBO show Silicon Valley is great: it “celebrates the odd, unselfish minds that drive real innovation.”  (Daniel Nadler)

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