Quote of the day

Joshua Brown, “And let’s be honest about the so-called “investors”… Most of them only like the idea of non-correlation, but can’t stand the actual sight of it when the bulls are fornicating on the corner of Wall and Broad.”  (The Reformed Broker)

Chart of the day

The Canadian dollar (and stock market) is doing quite well, thank you.  (Minyanville)

Markets

A look at stock market performance YTD.  (Horan Capital, Crossing Wall Street)

The Dow is badly lagging the S&P 500 YTD.  (Bespoke)

Dividends had a good Q2.  (Crossing Wall STreet)

High momentum stocks got whacked earlier this year. Now they have come back.  (Irrelevant Investor)

Why investors are reluctant to put money to work in what seem to be elevated markets.  (WSJ)

Strategy

Your trading environment matters more than you think.  (TraderFeed)

Why investing with a margin of safety is so important.  (Alpha Architect)

Companies

How Keurig Green Mountain ($GMCR) is trying to hold onto its customers.  (The Verge)

Why Tesla ($TSLA) was willing to open up its patent portfolio to the world.  (Daniel Nadler)

Aereo’s last hope is Congress.  (WashingtonPost)

Taxes

What company isn’t thinking of moving overseas for tax purposes?  (Dealbook)

The US corporate tax code is a joke.  (Real Time Economics)

Funds

On the state of target-date funds.  (Morningstar)

Proper fund analysis requires using a proper benchmark.  (Pragmatic Capitalism)

Economy

US manufacturing is humming along.  (Business Insider also Bespoke)

Should we concerned by a drop in Ford F-150 pickup sales?  (Bespoke)

Earlier on Abnormal Returns

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

Mixed media

Need to solve a tough problem? Offer a prize.  (FT)

Why retail investors can safely ignore CNBC.  (Brian Lund)

How to make hard choices.  (Farnam Street)

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